MORRISTOWN, NJ--(Marketwire - Jan 13, 2012) - The Board of Trustees of Ellsworth Fund Ltd. (NYSE Amex: [ ECF ]) today declared the Fund's one hundred and second quarterly dividend.

The 6.25 cents ($0.0625) per share dividend is payable from net investment income on February 22, 2012 to shareholders of record February 8, 2012, and represents an increase of $0.0015 over the previous year's first quarter dividend.

The following actions were taken at the Annual Shareholders meeting held on Friday, January 13th: (1) two trustees were elected and (2) the selection of Tait, Weller & Baker LLP as independent auditors for the 2012 fiscal year was ratified.

Ellsworth Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests. Its shares are traded on the NYSE Amex Exchange under the ticker symbol ECF.

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