Gabelli Dividend & Income Trust Continues Monthly Distributions, Declares Distributions of $0.11 Per Share

Rhea-AI Summary

The Gabelli Dividend & Income Trust (NYSE: GDV) announced the continuation of its monthly cash distribution policy. The Board declared distributions of $0.11 per share for July, August, and September 2024. Record dates are July 17, August 16, and September 16, with payable dates on July 24, August 23, and September 23, respectively.

The Fund evaluates strategic opportunities and reviews its distribution levels quarterly. If necessary, an adjusting distribution will be made in December to meet IRS requirements for regulated investment companies. The distribution includes 16% from net investment income, 79% from net capital gains, and 5% return of capital. Shareholders will receive tax-related information via Form 1099-DIV in early 2025.

Positive

• Continuation of fixed monthly distributions ensures consistent income for investors.
• Declared distributions of $0.11 per share for July, August, and September 2024.
• 16% of distributions from net investment income indicates profitability.
• 79% of distributions from net capital gains highlights successful investments.
• Potential adjusting distribution in December could increase year-end payouts.

Negative

• 5% of distributions deemed a return of capital, indicating possible reliance on principal.
• No guarantee that the distribution policy will continue in the future.
• Distributions exceeding earnings would be deemed a return of capital, reducing shareholder cost basis.
• Income recipients may be subject to a 3.8% Medicare surcharge on net investment income.

RYE, N.Y., May 16, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) (the “Fund”) approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.11 per share for each of July, August, and September 2024.

Distribution Month	Record Date	Payable Date	Distribution Per Share
July	July 17, 2024	July 24, 2024	$0.11
August	August 16, 2024	August 23, 2024	$0.11
September	September 16, 2024	September 23, 2024	$0.11

Additionally, the Board of Directors continues to evaluate potential strategic opportunities for the Fund in what we believe to be an attractive environment to invest in the broader equity markets.

Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. If necessary, the Fund will pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The Fund’s distribution policy is subject to modification by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2024 would include approximately 16% from net investment income, 79% from net capital gains and 5% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2024 will be made after year end and can vary from the monthly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2024 distributions in early 2025 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

Carter Austin
(914) 921-5475

About The Gabelli Dividend & Income Trust
The Gabelli Dividend & Income Trust is a diversified, closed-end management investment company with $2.8 billion in total net assets whose primary investment objective is to provide a high level of total return with an emphasis on dividends and income. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE – GDV
CUSIP – 36242H104

THE GABELLI DIVIDEND & INCOME TRUST
Investor Relations Contact:
Carter Austin
(914) 921-5475
caustin@gabelli.com

FAQ

What is the distribution amount declared by Gabelli Dividend & Income Trust for July, August, and September 2024?

The Fund declared distributions of $0.11 per share for each of July, August, and September 2024.

When are the record dates for Gabelli Dividend & Income Trust's distributions in Q3 2024?

The record dates are July 17, August 16, and September 16, 2024.

When will Gabelli Dividend & Income Trust pay the declared distributions in Q3 2024?

The payable dates are July 24, August 23, and September 23, 2024.

What percentage of the Fund’s 2024 distributions comes from net investment income?

Approximately 16% of the Fund’s distributions in 2024 come from net investment income.

What portion of Gabelli Dividend & Income Trust's 2024 distributions is considered a return of capital?

Approximately 5% of the Fund’s distributions in 2024 is deemed a return of capital.