Key Developments: Dividend and Income Fund (DNI)
16.28USD
24 May 2013
$0.07 (+0.43%)
$16.21
$16.02
$16.28
$16.02
29,637
35,771
$16.58
$12.60
Latest Key Developments (Source: Significant Developments)
Dividend and Income Fund Inc Announces Commencement Of Rights Offering
Dividend and Income Fund Inc announced the commencement of its non-transferable rights offering (the Rights Offering) of shares of its common stock (the Shares). The subscription period commenced on November 14, 2011, upon the effectiveness of the registration statement filed with the SEC for the Rights Offering, and will expire on December 23, 2011, unless extended by the Fund (the Expiration Date). As announced previously, the record date for the Rights Offering is November 14, 2011. In the Rights Offering, the Fund will issue non-transferable rights (the Rights) to its record date stockholders. Each record date stockholder will receive one Right for each outstanding Share owned on the record date rounded up to the nearest number of Rights evenly divisible by three. The Rights entitle each holder to purchase one new Share for each three Rights held. Fractional Shares will not be issued. The new Shares issued in the Rights Offering also will be listed on the New York Stock Exchange (the NYSE) under the symbol DNI. Pursuant to an over-subscription privilege, record date stockholders who exercise all Rights issued to them may, subject to certain limitations and a pro-rata allotment, subscribe for additional Shares not subscribed for by other holders of Rights. In addition, the Fund may, at the discretion of its Board of Directors, issue additional Shares to satisfy over-subscription requests Full Article
Dividend and Income Fund Inc Announces Terms and Record Date of Rights Offering
Dividend and Income Fund Inc announced the terms and record date of its non-transferable rights offering (Rights Offering) of shares of its common stock (Shares). The Board of Directors has determined that it would be in the best interests of the Fund and its stockholders to increase the assets of the Fund and that the Rights Offering is currently an effective and efficient way to raise additional assets for the Fund. The Rights Offering is expected to provide stockholders with the opportunity to purchase additional Shares at a price below both market and net asset value (NAV) without paying any commissions. The Fund will issue non-transferable rights (Rights) to its record date stockholders. Each record date stockholder will receive one Right for each outstanding Share owned on the record date rounded up to the nearest number of Rights evenly divisible by three. The Rights entitle each holder to purchase one new Share for each three Rights held, plus, in certain circumstances, additional new Shares pursuant to an over-subscription privilege. Fractional Shares will not be issued. The record date for the Rights Offering is currently expected to be October 27, 2011. The proposed subscription period is currently anticipated to commence if and when the registration statement filed with the SEC for the Rights Offering becomes effective, and expire on December 2, 2011, unless extended by the Fund. Full Article
Dividend and Income Fund Inc Files For Potential Rights Offering
Dividend and Income Fund Inc announced that it has filed a preliminary registration statement with the U.S. Securities and Exchange Commission for a potential non-transferable rights offering by the Fund to its shareholders. The preliminary registration statement contemplates that the Fund will issue to shareholders of record on the record date one nontransferable right for each share of common stock of the Fund owned on the record date rounded up to the nearest number of rights evenly divisible by three. Shareholders may acquire one new share of common stock for each three rights held (with the right to subscribe for additional shares pursuant to an over-subscription privilege) at a subscription price per share equal to 95% of the lower of the net asset value per share of the Fund's common stock at the close of business on the expiration date of the rights offering or the average of the volume weighted average sales prices of a share of the Fund's common stock on the New York Stock Exchange on such date and the four preceding trading days. The Fund will determine and announce the record date, subscription period, expiration date, and other aspects of the rights offering at a later date, and the Board of Directors of the Fund reserves the right to delay or cancel the rights offering. Full Article
Dividend and Income Fund Inc Authorizes Filing For Rights Offering
Dividend and Income Fund Inc announced that it has approved the filing of a registration statement for a non-transferable rights offering by the Fund to its shareholders. The Fund expects to file an initial registration statement with the U.S. Securities and Exchange Commission in July. Key aspects of the rights offering including the offering period, expiration date, subscription price, and record date have to be determined. The Board reserves the right to delay or cancel the rights offering. Under the proposed rights offering, each shareholder would receive one right for each share held on the record date. At least three rights will be required to acquire one additional share of the Fund. The subscription price is expected to be below both the market price and net asset value on the pricing date for the rights offering. Shareholders of record on the record date for the rights offering are expected to be entitled to oversubscribe, subject to certain limitations and subject to allotment, for additional shares pursuant to an over-subscription privilege. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
