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The Board of Trustees of Ellsworth Growth and Income Fund (ECF) has declared a $0.14 per share cash distribution payable on December 30, 2024. Shareholders of record as of November 22, 2024, can choose to receive the distribution in cash or beneficial shares. The Fund aims to pay either 5% of its trailing 12-month average month-end market price or meet minimum IRS distribution requirements. The distribution is taxable regardless of the payment method chosen, and shareholders must make their election by December 13, 2024. Those who don't make a choice will receive shares, with the amount determined on December 16, 2024, based on the lower of closing market price or net asset value.
The Board of Trustees of Ellsworth Growth and Income Fund (NYSE American: ECF) has declared a $0.13 per share cash distribution for September 23, 2024, to shareholders of record on September 16, 2024. The Fund aims to distribute either 5% of its trailing 12-month average month-end market price or meet the minimum distribution requirement for regulated investment companies.
The distribution may include long-term capital gains and qualified dividend income, subject to a maximum federal tax rate of 20% for individuals. The Fund's 2024 distributions are estimated to comprise 44% from net investment income and 56% from net capital gains. Shareholders will receive detailed tax information for 2024 distributions in early 2025 via Form 1099-DIV.
The Board of Trustees of Ellsworth Growth and Income Fund declared a $0.13 per share cash distribution, payable on June 21, 2024, to shareholders as of June 13, 2024. The Fund's policy aims to distribute 5% of the trailing 12-month average market price or comply with the minimum distribution requirement of the Internal Revenue Code. Quarterly reviews are conducted to determine potential distributions, which may be adjusted in December if necessary. The distribution includes approximately 40% net investment income and 60% return of capital. Shareholders will receive detailed tax treatment notifications in early 2025.
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