SCOTTSDALE, Ariz., Aug. 15 AZ-ING-IGDandIID
SCOTTSDALE, Ariz., Aug. 15 /PRNewswire-FirstCall/ -- ING Investments, LLC
announced the monthly distributions on the common shares of two of its
closed-end funds: ING Global Equity Dividend and Premium Opportunity Fund
(NYSE: IGD) and ING International High Dividend Equity Income Fund (NYSE: IID)
(each a "Fund" and collectively, the "Funds"). With respect to each Fund, the
distribution will be paid on September 15, 2008, to shareholders of record on
September 4, 2008. The ex-dividend date is September 2, 2008. The distribution
per share for each Fund is as follows:
Fund Distribution Per Share
ING Global Equity Dividend and Premium
Opportunity Fund (NYSE: IGD) $0.156
ING International High Dividend Equity
Income Fund (NYSE: IID) $0.163
Each Fund intends to make regular monthly distributions based on the past
and projected performance of the Fund. The amount of monthly distributions may
vary, depending on a number of factors. As portfolio and market conditions
change, the rate of distributions on the common shares may change. There can
be no assurance that a Fund will be able to declare a distribution in each
period.
The tax treatment and characterization of a Fund's distributions may vary
significantly from time to time depending on the net investment income of the
Fund and whether the Fund has realized gains or losses from its options
strategy versus gain or loss realizations in the equity securities in the
portfolio. Each Fund's distributions will normally reflect past and projected
net investment income, and may include income from dividends and interest,
capital gains and/or a return of capital. The final tax characteristics of the
distributions cannot be determined with certainty until after the end of the
calendar year, and will be reported to shareholders at that time.
IGD estimates that each distribution for the current fiscal year, as of
July 31, 2008, will be comprised of approximately 42% ordinary income and 58%
return of capital.
IID estimates that each distribution for the current fiscal year, as of
July 31, 2008, will be comprised of approximately 35% ordinary income and 65%
return of capital.
The portion of each Fund's monthly distributions estimated to come from
the Fund's option strategy, for tax purposes, may be treated as a combination
of long-term and short-term capital gains, and/or a return of capital. The tax
character of each Fund's option strategy is largely determined by movements
in, and gain and loss realizations in the underlying equity portfolio.
Certain statements made on behalf of the Funds in this release are
forward- looking statements. The Funds actual future results may differ
significantly from those anticipated in any forward-looking statements due to
numerous factors, including but not limited to a decline in value in equity
markets in general or the Funds investments specifically. Neither the Funds
nor ING undertake any responsibility to update publicly or revise any
forward-looking statement.
ING Investments, LLC, the manager of the Funds, is part of ING, a global
financial institution of Dutch origin offering banking, investments, life
insurance and retirement services to over 75 million private, corporate and
institutional clients in more than 50 countries. With a diverse workforce of
about 125,000 people, ING comprises a broad spectrum of prominent companies
that increasingly serve their clients under the ING brand.
For more complete information, or to obtain a prospectus on any ING fund,
please call your Investment Professional or ING Funds Distributor, LLC at
(800) 992-0180 or log on to www.ingfunds.com. The prospectus should be read
carefully before investing. Consider the fund's investment objectives, risk,
and charges and expenses carefully before investing. The prospectus contains
this information and other information about the fund. Check with your
Investment Professional to determine which funds are available for sale within
their firm. Not all funds are available for sale at all firms.
SOURCE ING Investments, LLC
