NEW YORK, March 30 /PRNewswire/ -- Alpine Woods Capital Investors, LLC announced today the declaration of the quarter-end dividend distribution of ordinary income for the Alpine Dynamic Dividend Fund which will be paid as follows:
ALPINE DYNAMIC DIVIDEND FUND
(Ticker: ADVDX; CUSIP: 020875209)
Ordinary Dividend Income: $0.25
Record Date: March 29, 2006
Ex-Date, Reinvestment Date, Payable Date: March 30, 2006
Beginning in March 2006, the regular monthly minimum dividend distributed by ADVDX will be raised by $0.01, from $0.06 to $0.07 per share, an increase of 17%. In addition, in the third month of each quarter the Fund will continue to distribute any additional dividend income that has been accumulated during the quarter. Therefore, the monthly minimum dividend payment of $0.07 per share is a fixed amount but the total quarter end distribution is variable based on the dividends earned during the quarter.
The total March 2006 dividend distribution of $0.25 represents the new monthly dividend of $0.07 per share plus the variable quarter-end payout of additional dividend income accumulated during the quarter. The total dividend distributed by ADVDX for the quarter ended March 31, 2006 is $0.37, representing a 5.7% increase over the $0.35 paid in the quarter ended March 31, 2005.
For the twelve months ended March 31, 2006, ADVDX paid out $1.554 in ordinary dividend income, with over 98% of the distribution being qualified for the maximum taxable rate of 15%. Based on a closing NAV price of $13.00 on March 28, 2006, the $1.554 dividend payout represents a highly attractive after-tax dividend yield.
The Alpine Dynamic Dividend Fund was designed specifically to maximize the amount of distributed dividend income that is qualified for the recently lowered 15% maximum tax rate, while also employing a research driven approach to identifying companies with the potential for dividend increases and capital appreciation.
Performance data quoted represents past performance and does not guarantee future results.
The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 888-785-5578, or visiting http://www.alpinefunds.com/. Read it carefully before investing.
Mutual fund investing involves risk; principal loss is possible. The Dynamic Dividend Fund invests in small and mid cap stocks which involve additional risks such as limited liquidity and greater volatility as compared to large cap stocks. Investing in foreign securities tends to involve greater volatility and political, economic and currency risks and differences in accounting methods.
The Fund is distributed by Quasar Distributors, LLC. 3/06
