Lincoln National Income Fund, Inc. Final Distribution
05 Junho 2006 - 6:13PM
PR Newswire (US)
PHILADELPHIA, June 5 /PRNewswire-FirstCall/ -- Lincoln National
Income Fund, Inc. (NYSE:LND) today announced that it will make a
final distribution of substantially all of the Fund's undistributed
ordinary income and undistributed capital gain net income, if any,
earned and anticipated to be earned through close of business on
June 16, 2006, payable on June 30, 2006 to shareholders of record
on June 16, 2006. In January 2007, shareholders will receive Form
1099-DIV which will report the amount and character of the Fund's
distributions paid in calendar year 2006. The Fund will issue
another press release once the exact amount of the final
distribution, if any, has been determined. The Fund's final
distribution will be made in connection with the reorganization of
the Fund into Delaware Corporate Bond Fund ("Corporate Bond Fund"),
an open-end series of Delaware Group Income Funds, which was
approved by the Fund's shareholders at a Special Meeting of
Shareholders held on June 1, 2006. The transaction, which is
expected to be a tax-free reorganization, is currently anticipated
to become effective after the close of trading on Friday, June 16,
2006 (the "Closing Date") and would entail (i) the acquisition of
all of the assets of the Fund by Corporate Bond Fund in exchange
for Class A shares of Corporate Bond Fund; (ii) the pro rata
distribution of such shares to the Fund's shareholders in exchange
for their shares of the Fund; and (iii) the subsequent liquidation
and dissolution of the Fund. For the three months after the Closing
Date, former Fund shareholders who redeem or exchange shares of
Corporate Bond Fund received in connection with the transaction
will pay a 2% redemption fee. The Fund is a closed-end,
non-diversified investment management company managed by Delaware
Management Company. Delaware Management Company is a series of
Delaware Management Business Trust, a subsidiary of Lincoln
National Corporation. The Fund's primary objective is to seek to
produce increasing dollar amounts of income for distribution to its
shareholders over the long term. As of June 2, 2006, the Fund had
total assets of approximately $91.8 million. DATASOURCE: Delaware
Investments CONTACT: Ayele Ajavon, +1-215-255-1632, , or Laurel
O'Brien, +1-215-255-1520, , both of Corporate Communications of
Delaware Investments Web site: http://www.delawareinvestments.com/
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