SCOTTSDALE, Ariz., Nov. 16 /PRNewswire/ -- ING Investments, LLC announced the monthly distributions on the common shares of two of its closed-end funds: ING Global Equity Dividend and Premium Opportunity Fund (NYSE:IGD) and ING International High Dividend Equity Income Fund (NYSE:IID) (each a "Fund" and collectively, the "Funds"). The monthly distributions announced today are reduced from distributions paid in prior periods in an effort to align the Funds distributions with the current conditions in the equity and options markets. The Funds' management considered a number of factors before deciding to decrease each Fund's distribution, including the level of assets in each respective Fund, the dividend yield of the underlying equity portfolios and prevailing implied option volatilities. With respect to each Fund, the distribution will be paid on December 15, 2009, to shareholders of record on December 3, 2009. The ex-dividend date is December 1, 2009. The distribution per share for each Fund is as follows: Fund Distribution Change from Per Share previous month ---- ------------ -------------- ING Global Equity Dividend and Premium Opportunity Fund (NYSE:IGD) $0.125 - $0.031 ING International High Dividend Equity Income Fund (NYSE:IID) $0.115 - $0.048 Each Fund intends to make regular monthly distributions based on the past and projected performance of the Fund. The amount of monthly distributions may vary, depending on a number of factors. As portfolio and market conditions change, the rate of distributions on the common shares may change. There can be no assurance that a Fund will be able to declare a distribution in each period. The tax treatment and characterization of a Fund's distributions may vary significantly from time to time depending on the net investment income of the Fund and whether the Fund has realized gains or losses from its options strategy versus gain or loss realizations in the equity securities in the portfolio. Each Fund's distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The portion of each Fund's monthly distributions estimated to come from the Fund's option strategy, for tax purposes, may be treated as a combination of long-term and short-term capital gains, and/or a return of capital. The tax character of each Fund's option strategy is largely determined by movements in, and gain and loss realizations in the underlying equity portfolio. Under certain conditions, federal tax regulations may also cause some or all of the return of capital to be taxed as ordinary income. The final tax characteristics of the distributions cannot be determined with certainty until after the end of the calendar year, and will be reported to shareholders at that time. IGD estimates that each distribution for the current fiscal year as of October 31, 2009, will be comprised of approximately 21% ordinary income and 79% return of capital. IID estimates that each distribution for the current fiscal year as of October 31, 2009, will be comprised of approximately 13% ordinary income and 87% return of capital. Certain statements made on behalf of the Funds in this release are forward- looking statements. The Funds actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including but not limited to a decline in value in equity markets in general or the Funds investments specifically. Neither the Funds nor ING undertake any responsibility to update publicly or revise any forward-looking statement. ING Investments, LLC, the manager of the Funds, is part of ING, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 125,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand. SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180 DATASOURCE: ING CONTACT: SHAREHOLDER INQUIRIES: ING Funds Shareholder Services, 1-800-992-0180

Copyright