Delaware Enhanced Global Dividend and Income Fund
DEX
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Damon J. Andres CFA
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 2005 Market Street Philadelphia PA United States of America 19103-7094
- IPO Date
- Jan 1, 2009
- CIK
- 0001396167
- Website
- delawareinvestments.com
- Similar Companies
- Business
- Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) is a closed-end balanced mutual fund that seeks current income as its primary objective, with a secondary objective of capital appreciation. The fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in dividend-paying or income-generating securities across multiple global asset classes, including equity securities of large, well-established companies; securities issued by real estate companies, such as real estate investment trusts and real estate industry operating companies; debt securities comprising government bonds, investment-grade corporate bonds, high-yield corporate bonds, and convertible bonds; and emerging market securities. It employs enhanced income strategies, such as dividend capture trading, option overwriting, realization of gains on securities sales, dividend growth investments, and currency forwards, while targeting a managed distribution policy aiming for a 7% annual distribution rate based on average net asset value; under normal conditions, the fund allocates no more than 60% of net assets to U.S. issuers, at least 40% to non-U.S. issuers (or at least 30% if market conditions are unfavorable), and up to 25% to real estate company securities. The fund utilizes leveraging techniques to pursue higher returns and benchmarks its performance against relevant global indices. Launched by Delaware Management Holdings, Inc. and managed by Delaware Management Business Trust (a member of Macquarie Investment Management), the fund was headquartered at 610 Market Street, Philadelphia, Pennsylvania, prior to its reorganization. It operated globally across public equity and fixed income markets, targeting diversified sectors with a focus on large-cap dividend stocks and income-oriented fixed income instruments for income-seeking investors. In a major strategic change completed in March 2023, the fund underwent a reorganization approved by shareholders, whereby it was acquired by and merged into abrdn Global Dynamic Dividend Fund (NYSE: ADX) in a tax-free transaction, with DEX shareholders receiving ADX shares at an exchange ratio of approximately 0.835659 ADX shares per DEX share based on net asset values as of the closing date. Post-reorganization, DEX shares were delisted from the New York Stock Exchange and the fund was dissolved, marking the cessation of its independent operations. No subsequent partnerships, funding rounds, new product launches, or expansions have been reported for DEX following this event, as it is no longer an active entity.