NEW YORK--(BUSINESS WIRE)--The Mexico Equity and Income Fund, Inc. (the “Fund”) (NYSE: MXE) announced today that its Board of Directors has declared a stock dividend of $2.12643 per share payable on January 28, 2014 to common and preferred stockholders of record on December 30, 2013. The dividend on each class of stock will be paid in shares of common stock with an option to elect cash subject to a maximum of 25% of the total distribution payable in cash. The number of shares of common stock to be received will be based on the trade-weighted average market price of the Fund’s common stock on January 22, 2014 through January 24, 2014. If stockholders elect to receive cash exceeding, in aggregate, 25% of the total distribution, the cash portion of their distribution will be prorated with the balance paid in common shares. The per share dividend consists of $1.64983 of short-term capital gains and $0.47660 of long-term capital gains. Registered stockholders that elect to receive cash in lieu of the stock dividend must notify the Fund prior to January 17, 2014. Stockholders who hold their shares through a third party intermediary, such as a bank or brokerage firm, and that wish to receive cash in lieu of the stock dividend should notify such intermediary as soon as possible after December 30, 2013.
The Fund also announced the results of the Annual Meeting of Stockholders of the Fund, which was held on December 18, 2013. At the Annual Meeting of Stockholders, the common and preferred stockholders voting as a single class elected Gerald Hellerman and the preferred stockholders voting as a separate class elected Glenn Goodstein as Directors of the Fund to serve until the 2016 Annual Meeting of Stockholders.
Periodically updated information on the Fund can be obtained by visiting the Fund’s website at www.mxefund.com. Inquiries regarding change of address, transfer of shares, lost certificates, and non-receipt of dividend checks or reinvestment statements should be directed to U.S. Bancorp Fund Services, LLC (877) 785-0376.