GABELLI DVEND TRST : Gabelli Dividend & Income Trust Continues Monthly Distributions, Declaring Distributions of $0.07 Per Share, an Increase from $0.06 Per Share in Second Quarter 2010
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 $0.07 per share for each of April, May and June 2011.
Pursuant to this policy, the total distributions for 2011 from the Fund
would equate to $0.84 per share on an annual basis, an increase from
total distributions paid in 2010 of $0.76 per share.
The distribution for April 2011 will be payable on April 21, 2011 to
common shareholders of record on April 14, 2011.
The distribution for May 2011 will be payable on May 23, 2011 to common
shareholders of record on May 16, 2011.
The distribution for June 2011 will be payable on June 23, 2011 to
common shareholders of record on June 16, 2011.
Each quarter, the Board of Trustees reviews the amount of any potential
distribution and the income, 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. The Fund's distribution policy is subject to
modification by the Board of Trustees at any time. The distribution rate
should not be considered the dividend yield or total return on an
investment in the Fund.
A portion of the distribution may be treated as long-term capital gain
and qualified dividend income for individuals, each subject to the
maximum federal income tax rate, which is currently 15% in taxable
accounts for individuals. If the Fund does not generate sufficient
earnings from dividends and interest received and net realized capital
gains 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 investment income and net realized capital gains 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 is treated as a reduction in the shareholder's cost basis.
Under federal tax regulations, some or all of the return of capital
distributed by the Fund may be taxable as ordinary income in certain
circumstances. This may occur when the Fund has a capital loss carry
forward, net capital gains are realized in a fiscal year and
distributions are made in excess of investment company taxable income.
Long-term capital gains, qualified dividend income, ordinary income, and
paid-in 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 as of February 11, 2011, each of the
distributions paid in 2011 would include approximately 6% from net
investment income and 94% from paid-in capital. 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 2011 will
be made after year end and can vary from the monthly estimates. All
shareholders with taxable accounts will receive written notification
regarding the components and tax treatment for all 2011 distributions in
early 2012 via Form 1099-DIV.
It should be noted that the Fund's total assets include capital from
preferred shares issued in prior years. Gabelli Funds, LLC (the
?Investment Adviser?) does not receive a management fee on the
incremental assets attributable to the Fund's outstanding preferred
shares unless the total return of the net asset value of the common
shares during the year, including distributions and management fee
subject to reduction, exceeds the stated dividend rate or corresponding
swap rate of each particular series of preferred shares for the fiscal
year.
The Gabelli Dividend & Income Trust is a non-diversified, closed-end
management investment company with $2.0 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 Investment Adviser
is a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly
traded NYSE listed company.
The Gabelli Dividend & Income Trust Carter Austin Laurissa
Martire 914-921-5070
The Gabelli Dividend & Income Trust (the Fund) is a diversified, closed-end management investment company. The Fundâs investment objective is to seek a high level of total return with an emphasis on dividends and income. Under normal market conditions, the Fund invests at least 80% of its assets in dividend paying or other income-producing securities. In addition, under normal market conditions, at least 50% of the Fund's assets will consist of dividend paying equity securities. In making stock selections, the Fund's investment adviser looks for securities that have a superior yield and capital gains potential. The Fund invests in a range of sectors, including financial services, food and beverage, consumer products, cable and satellite, business services, paper and forest products, computer software and services, wireless communications, publishing, agriculture, building and construction, health care, broadcasting and others. The Fund's investment advisor is Gabelli Funds, LLC.
GABELLI DVEND TRST : Gabelli Dividend & Income Trust Continues Monthly Distributions, Declaring Distributions of $0.07 Per Share, an Increase from $0.06 Per Share in Second Quarter 2010