Bexil Corporation Announces Special Dividend
January 06 2011 - 9:00AM
Marketwired
Bexil Corporation (PINKSHEETS: BXLC) announced today that the Board
of Directors has authorized a special dividend to stockholders of
$.20 per share of common stock contingent upon the closing of the
Transaction Agreement with Chartwell Investment Partners. Upon
closing, Bexil Advisers, a wholly owned subsidiary of Bexil, will
become the investment adviser to Chartwell Dividend & Income
Fund (the "Fund") (NYSE: CWF).
The Transaction Agreement is expected to close on or about the
first business day after receipt of stockholder approvals of a new
investment advisory agreement and election of a new slate of
directors, and satisfaction of the other conditions of the
Transaction Agreement. Special meetings of Fund stockholders to
consider the new investment advisory agreement and elect directors
are currently scheduled for January 31, 2011, subject to
adjournment and postponement.
The record date and payment date for the special dividend will
be announced after the closing.
About Bexil Corporation
Bexil is a holding company. To learn more about Bexil
Corporation, including Rule 15c2-11 information, please visit
www.bexil.com. Approximately 22% of Bexil's shares are owned by
Winmill & Co. Incorporated (PINKSHEETS: WNMLA), which is
engaged through subsidiaries in stock market and gold investing
through its investment management of equity and gold mutual
funds.
Safe Harbor Note
This release contains certain "forward looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements involve known and
unknown risks, uncertainties and other factors, many of which are
beyond the control of Bexil Corporation, which may cause the
Company's actual results to be materially different from those
expressed or implied by such statements. The forward looking
statements made herein are only made as of the date of this
release, and the Company undertakes no obligation to publicly
update such forward looking statements to reflect subsequent events
or circumstances.
This press release is neither an offer to sell,
nor a solicitation of an offer to buy, shares of the Fund, nor is
it a solicitation of any proxy.
Contact: Thomas O'Malley Chief Financial Officer 1-212-785-0400,
ext. 267 Email Contact www.bexil.com
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