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May 2012 CEF Press Release Overview & Dividend Change Highlights

June 1, 2012
AGM – Annual Meeting 15
CEF Merging into CEF 7
CEF Open-Ending 1
Dividend 493
Fund Liquidation 3
Investment Policy Change 7
Leverage Amount Change 41
Tender Offer 13
Conference Call/Webcast 4
Fund Manager Change 7
New Issue (Secondary Offering) 45
Announcement 23
Distribution Policy Change 1
Leverage Type Change 7
Total Press Releases 667

Dividend Decreases (-) 17 Dividend Increases (+) 20
Below is a breakdown of dividend changes by size of the change:

Dividend Decreases (-) (0%-5%)  13
Dividend Decreases (-) (5%-10%) 2
Dividend Decreases (-) (>10%)  2 

Dividend Increases (+) (0%-5%)  12
Dividend Increases (+) (5%-10%)  3
Dividend Increases (+) (>10%)  5 

The siginifigant dividend cuts (-5% or more) were in Muni Bond funds (2) and the High Yield Bond fund (1) sector and the Covered Call Funds (1) sector.

The signifigant dividend increases (+5% or more) were in the Investment Grade Bond (2), Emerging Markets Debt (2), Healthcare/BioTech (2), and Sr. Loan Fund sector (2).

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