Delaware Enhanced Global Dividend and Income Fund (DEX)

Delaware Enhanced Global Dividend and Income Fund was a closed-end fund listed on the New York Stock Exchange under the symbol DEX. It sought current income and capital appreciation by investing in dividend-paying stocks from the U.S. and abroad, along with fixed income securities, convertible bonds and real estate investment trusts. It also used leverage and option strategies to support its monthly distributions.

The fund was launched in 2007 by Delaware Investments, the Philadelphia-based asset manager. Macquarie Group acquired Delaware Investments in 2010, and the fund was later managed under the Macquarie Asset Management umbrella. Like many closed-end funds, DEX often traded at a discount to its net asset value, and its relatively small size limited liquidity.

In 2022 the fund's board approved a plan to fold DEX into abrdn Global Dynamic Dividend Fund, a larger global dividend fund managed by abrdn. Shareholders approved the reorganization at a special meeting on December 12, 2022, and a self tender offer for up to 30 percent of DEX shares was also carried out. A final distribution of $0.0509 per share was paid in early March 2023.

The reorganization was completed on March 10, 2023, in a tax-free transaction. Based on closing net asset values, each DEX share was converted into 0.835659 AGD shares, with cash paid for fractional shares. DEX was then delisted from the NYSE and dissolved.