Ellsworth Fund Ltd. Declares Increased Quarterly Dividend of $0.0015

The Board of Trustees of Ellsworth Fund Ltd.

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.