Ellsworth Convertible Growth and Income Fund, Inc. Announces Increased Dividend

Apr 20, 2001, 01:00 ET from Ellsworth Convertible Growth and Income Fund, Inc.

    MORRISTOWN, N.J., April 20 /PRNewswire/ -- The Fund (Amex:   ECF)
 (Cusip # 28-9074106) declared its fifty-ninth quarterly dividend today:
 
      10 cents ($0.10) per share     Payable Date     Record Date
      from ordinary income           May 30, 2001     May 16, 2001
 
     This dividend represents an increase of $.01 per share over the previous
 quarter's dividend.
 
     Earnings Report         Three Months Ended          Six Months Ended
                                    March 31                    March 31
 
                               2001          2000         2001          2000
 
     Net Income          $1,929,000      $980,000   $2,774,000    $1,693,000
       Per Share              $0.19         $0.10        $0.27         $0.18
     Shares Outstanding  10,255,959     9,286,638   10,255,959     9,286,638
     Total Net Assets   $93,644,000  $111,348,000  $93,644,000  $111,348,000
 
     Net Asset Value
      Per Share               $9.13        $11.99        $9.13        $11.99
 
     Further financial details are available on the Company's website:
 http://www.ellsworthfund.com .
 
     Ellsworth is a diversified closed-end management investment company.
 Ellsworth's investment objective is to seek a high level of total return on
 its assets through a combination of current income and capital appreciation.
 It seeks to achieve this objective by investing primarily in convertible
 securities.
 
     Gary Levine
     Treasurer
 
 

SOURCE Ellsworth Convertible Growth and Income Fund, Inc.
    MORRISTOWN, N.J., April 20 /PRNewswire/ -- The Fund (Amex:   ECF)
 (Cusip # 28-9074106) declared its fifty-ninth quarterly dividend today:
 
      10 cents ($0.10) per share     Payable Date     Record Date
      from ordinary income           May 30, 2001     May 16, 2001
 
     This dividend represents an increase of $.01 per share over the previous
 quarter's dividend.
 
     Earnings Report         Three Months Ended          Six Months Ended
                                    March 31                    March 31
 
                               2001          2000         2001          2000
 
     Net Income          $1,929,000      $980,000   $2,774,000    $1,693,000
       Per Share              $0.19         $0.10        $0.27         $0.18
     Shares Outstanding  10,255,959     9,286,638   10,255,959     9,286,638
     Total Net Assets   $93,644,000  $111,348,000  $93,644,000  $111,348,000
 
     Net Asset Value
      Per Share               $9.13        $11.99        $9.13        $11.99
 
     Further financial details are available on the Company's website:
 http://www.ellsworthfund.com .
 
     Ellsworth is a diversified closed-end management investment company.
 Ellsworth's investment objective is to seek a high level of total return on
 its assets through a combination of current income and capital appreciation.
 It seeks to achieve this objective by investing primarily in convertible
 securities.
 
     Gary Levine
     Treasurer
 
 SOURCE  Ellsworth Convertible Growth and Income Fund, Inc.