NEW YORK, Sept. 27 /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: September 27, 2006
Ex-Date, Reinvestment Date, Payable Date: September 28, 2006
The total September 2006 dividend distribution of $0.25 represents the monthly dividend rate of $0.07 per share raised in March 2006 from $0.06 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 September 30, 2006 is $0.39.
For the twelve months ended September 30, 2006, ADVDX paid out $1.574 in ordinary dividend income, with over 98% of the distribution estimated to be qualified for the federal maximum taxable rate of 15%. Based on a closing NAV price of $12.26 on September 26, 2006, the $1.574 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 subject to the 15% maximum tax rate on Qualified Dividend Income, 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 1.888.785.5578, or visiting http://www.alpinefunds.com/. Read it carefully before investing.
Mutual fund investing involves risk; principal loss is possible. The Alpine 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. 09/06
Alpine Woods Investments is a privately owned investment firm with two operating entities. It was formed in 2003 from a merger between Alpine Woods Capital Investors, LLC and Saxon Woods Advisors, LLC.
Alpine Woods Capital Investors, LLC manages Alpine Mutual Funds, a family of nine carefully focused open-end mutual funds and a closed-end fund, and also provides institutional investment management.
Saxon Woods Advisors, LLC provides private asset management services, including alternative investment vehicles, to separate accounts, tailored to the needs of qualified individuals, family foundations, and smaller endowments.
