SOURCE: Ellsworth Fund Ltd.

October 15, 2007 13:24 ET

Ellsworth Fund Ltd. Declares Year-End Distribution of Capital Gain and Investment Income

MORRISTOWN, NJ--(Marketwire - October 15, 2007) - The Board of Trustees of Ellsworth Fund Ltd. (AMEX: ECF) declared today a year-end distribution of $0.887 per share, consisting of the following:

        1) a capital gain distribution of $0.827 per share, representing
        the undistributed net capital gain realized during fiscal 2007, of
        which $0.598 was long-term and $0.229 was short-term; and

        2) an income dividend of $0.06 per share, representing the
        undistributed net investment income for fiscal 2007.

The distributions are payable November 21, 2007 to shareholders of record October 25, 2007, in shares or cash at the option of each shareholder. The dividend is taxable to all shareholders whether or not they choose to receive cash.

Shareholders Meeting Date: The trustees also set January 11, 2008 as the date of the annual shareholders meeting with a record date of November 14, 2007.

Ellsworth is a diversified closed-end management investment company. The Fund's investment objective is to seek a high level of total return on its assets through a combination of current income and capital appreciation. It seeks to achieve this objective by investing primarily in convertible securities. Its shares are traded on the American Stock Exchange under the ticker symbol ECF.

CUSIP# 289074106

Contact Information

  • For further information, please contact:
    Joshua P. Lake
    Treasurer
    Ph. (973) 631-1177
    Website: www.ellsworthfund.com