Industry description
The investment seeks to provide current income that exceeds the dividend yield of the S&P 500 Index and that grows over a period of years; long-term capital appreciation is a secondary consideration.
The fund seeks to achieve its objectives by investing, under normal market conditions, at least 80% of its net assets in dividend-paying common stocks. It may invest the balance of its assets in preferred stocks, convertible bonds, U.S. Treasury securities, and closed-end investment companies. The fund may invest up to 20% of its net assets in securities of issuers domiciled outside the U.S.