Lincoln National Corporation (NYSE:LNC) was also a top performer this quarter, returning nearly 22% and contributing 32 basis points to the Fund’s performance. The company reported second quarter earnings that were in-line with expectations. More importantly, some issues that management claimed were transient that hurt first quarter results did not recur. In addition, the company bought back a significant amount of stock and showed good progress on the issues that led to last quarter’s disappointing results.
From Keeley Mid-Cap Dividend Value Fund third-quarter 2016 commentary.
