The Mexico Equity and Income Fund, Inc. (the "Fund") (NYSE: MXE) announced today that its Board of Directors has declared a stock dividend of $0.56 per share consisting entirely of long-term capital gains payable on January 29, 2016 to common and preferred stockholders of record on December 30, 2015. The dividend on each class of stock will be paid in shares of common stock with an option to elect cash. The number of shares of common stock to be issued will be based on the trade-weighted average market price of the Fund's common stock from January 20, 2016 through January 22, 2016. The tax treatment of the dividend to shareholders is the same whether or not a cash election is made. Registered stockholders that elect to receive cash in lieu of the stock dividend must notify the Fund by January 19, 2016. Stockholders who hold their shares through a third party intermediary, such as a bank or brokerage firm, and wish to receive cash in lieu of the stock dividend should advise such intermediary to elect the cash option. The Fund also announced the results of the Annual Meeting of Stockholders of the Fund, which was held on December 17, 2015. At the Annual Meeting of Stockholders, the common and preferred stockholders voting as a single class, elected Rajeev Das as a Director of the Fund and the preferred stockholders voting separately elected Richard Abraham as a Director of the Fund, each to serve until the 2018 Annual Meeting of Stockholders. In addition, the Fund's preferred stockholders voting as a separate class, and the Fund's common and preferred stockholders, voting together as a single class, approved an amendment to the Fund's Articles Supplementary authorizing the elimination of the preferred stock. Periodically updated information on the Fund can be obtained by visiting the Fund's website at www.mxefund.com. Inquiries regarding change of address, transfer of shares, lost certificates, and non-receipt of dividend checks or reinvestment statements should be directed to U.S. Bancorp Fund Services, LLC (877) 785-0376.