Delaware Investments Dividend and Income Fund, Inc. Declares Monthly Distribution, Payable on May 27, 2022

Delaware Investments Dividend and Income Fund, Inc. (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to invest, under normal circumstances, at least 65% of its total assets in income-generate equity securities across any market capitalization, including dividend-paying common stocks, convertible securities, preferred stocks, and other equity-related securities, which may include up to 25% in real estate investment trusts (REITs) and real estate industry operating companies. Up to 35% of the Fund's total assets may be invested in nonconvertible debt securities consisting primarily of high yield, high-risk corporate bonds (commonly referred to as junk bonds). The Fund intends to shift investments between and within income-generating equity securities and debt securities, as well as tracking the yield differential between the sectors. The Fund's investment manager is Delaware Management Company.