NEW YORK, June 27 /PRNewswire/ -- The Alpine Dynamic Dividend Fund (ADVDX) announced today the declaration of its 51st consecutive monthly dividend with its June dividend distribution of ordinary income which will be paid as follows:
ALPINE DYNAMIC DIVIDEND FUND (Ticker: ADVDX; CUSIP: 020875209) Ordinary Dividend Income: $0.25 Record Date: June 26, 2008 Ex-Date, Reinvestment Date, Payable Date: June 27, 2008
The June dividend distribution represents the current regular monthly dividend of $0.07 per share plus the variable quarter-end payout of additional dividend income (in this case, $0.18) accumulated during the quarter ended June 30, 2008 for a total of $0.25. The Fund has declared over $6.98 in cumulative dividend income since its September 23, 2003 inception and over $0.28 in capital gains. On September 23, 2003, the per share offering price for the Alpine Dynamic Dividend Fund was $10.
For the twelve month period ended June 30, 2008, ADVDX has declared $1.64 in ordinary dividend income, with over 98% of the distribution estimated to be qualified for the maximum federal tax rate of 15%. Based on a closing NAV price of $10.11 on June 25, 2008, the $1.64 dividend payout represents what we feel is 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 15% maximum federal income tax rate on 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 (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. 06/08
Alpine Woods Capital Investors, LLC manages Alpine Mutual Funds, a family of carefully focused open-end (http://www.alpinefunds.com/) and closed-end funds (http://www.alpinecef.com/), and also provides institutional investment management.
