|
|
|
| 2008 Dividend Information |
|
|
Record Date |
Payment Date |
Dividend Amount |
Reinvestment Price |
|
|
|
Feb. 29, 2008 |
Mar. 17, 2008 |
$0.19 |
$6.4498 |
May 30, 2008 |
Jun. 16, 2008 |
$0.19 |
$6.2780 |
|
Total |
|
$0.38 |
|
| 2007 Dividend Information |
|
|
Record Date
|
Payment Date
|
Dividend Amount
|
Reinvestment Price
|
|
|
|
Mar. 2, 2007
|
Mar. 19, 2007
|
$0.23
|
$8.5513
|
|
May 11, 2007
|
Jun. 25, 2007
|
$0.23
|
$8.91
|
|
Aug. 10, 2007
|
Sep. 24, 2007
|
$0.22
|
$8.06
|
|
Nov. 9, 2007
|
Jan. 2, 2008
|
$0.22
|
$7.27
|
|
Total
|
|
$0.90
|
|
|
Rights offering completed in December 2007. One share offered at $6.51 for every 10 shares owned.
|
|
|
|
|
|
|
|
|
| 2007 Tax Information |
|
|
|
|
|
|
Total Ordinary Dividends
|
|
|
|
|
|
|
|
|
|
Record Date
|
Payment Date
|
Amount Per Share
|
Qualified
|
Non-Qualified
|
Long-Term Capital Gains
|
Return of Capital
|
|
|
|
|
|
|
Nov. 10, 2006*
|
Jan. 2, 2007
|
$0.22
|
13.79%
|
18.79%
|
67.42%
|
-
|
|
Mar. 2, 2007
|
Mar. 19, 2007
|
$0.23
|
13.79%
|
18.79%
|
67.42%
|
-
|
|
May 11, 2007
|
Jun. 25, 2007
|
$0.23
|
13.79%
|
18.79%
|
67.42%
|
-
|
|
Aug. 10, 2007
|
Sep. 24, 2007
|
$0.22
|
13.79%
|
18.79%
|
67.42%
|
-
|
| Nov. 9, 2007** |
Jan. 2, 2008 |
$0.22
|
-
|
-
|
-
|
-
|
|
|
* Pursuant to section 852 of the Internal Revenue Code, the taxability of this distribution will be reported in the Form 1099-DIV for 2007.
** Pursuant to section 852 of the Internal Revenue Code, the taxability of this distribution will be reported in the Form 1099-DIV for 2008. |
|
|
|
| Distribution Policy |
| The current policy, in effect since 1988, is to pay distributions on its common shares totaling approximately 10 percent of its net asset value per year, payable in four quarterly installments of 2.5% of the Fund's net asset value at the close of the New York Stock Exchange on the Friday prior to each quarterly declaration date. The fixed distributions are not related to the amount of the Fund's net investment income or net realized capital gains or losses and may be taxed as ordinary income up to the amount of the Fund's current and accumulated earnings and profits.
If, for any calendar year, the total distributions required by the 10 percent pay-out policy exceed the Fund's net investment income and net realized capital gains, the excess will generally be treated as non-taxable return of capital, reducing the shareholder's adjusted basis in his or her shares.
If the Fund's net investment income and net realized capital gains for any year exceed the amount required to be distributed under the 10 percent pay-out policy, the Fund may, in its discretion, retain and not distribute net realized capital gains and pay income tax thereon to the extent of such excess. The Fund retained such excess gains in 1993, 1996 and 1997.
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