Moody's Investors Service has issued revised ratings for preferred
shares of our closed-end funds. Closed-end funds are regulated under the
Investment Company Act of 1940, as amended (the "1940 Act"), and subject
to oversight by the United States Securities and Exchange Commission.
The Gabelli Closed-End Funds meet the requirements of the 1940 Act,
which require "asset coverage" (as defined in the 1940 Act) of at least
200% of the amount of any preferred shares outstanding at the time of
issuance, at the time dividends or distributions are declared on common
stock or at the time common stock is purchased (with certain exceptions).
As a reminder, The Gabelli Equity Trust Inc. (the "Fund") is currently
conducting a transferrable rights offering to the Fund's existing 6.20%
Series F Cumulative Preferred Stock (the "Series F Preferred")
shareholders. The rights offering allows Series F Preferred shareholders
to acquire Series G Cumulative Preferred Stock (the "Series G
Preferred") in accordance with the terms of the offer. The rights
offering is only made by means of a prospectus, and this document does
not constitute an offer to sell, or a solicitation of an offer to buy,
any of the Fund's securities.
GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages
assets of private advisory accounts (GAMCO Asset Management Inc.),
mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships
and offshore funds (Gabelli Securities, Inc.) and is known for its
Private Market Value with a Catalyst? style of investment. As of March
31, 2012, GAMCO Investors, Inc. had $36.7 billion in assets under
management.
This document is not an offering, which can only be made by a final
prospectus. Investors should consider the Fund's investment objectives,
risks, charges and expenses carefully before investing. The base
prospectus contains this and additional information about the Fund and
the prospectus supplement contains this and additional information about
the rights offering and Series G Preferred, and should be read carefully
before investing.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release contain some
forward-looking statements. Forward-looking statements give our current
expectations or forecasts of future events. You can identify these
statements because they do not relate strictly to historical or current
facts. They use words such as "anticipate," "estimate," "expect,"
"project," "intend," "plan," "believe," and other words and terms of
similar meaning. They also appear in any discussion of future operating
or financial performance. In particular, these include statements
relating to future actions, future performance of our products,
expenses, the outcome of any legal proceedings, and financial results.
Although we believe that we are basing our expectations and beliefs on
reasonable assumptions within the bounds of what we currently know about
our business and operations, there can be no assurance that our actual
results will not differ materially from what we expect or believe. Some
of the factors that could cause our actual results to differ from our
expectations or beliefs include, without limitation: the adverse effect
from a decline in the securities markets; a decline in the performance
of our products; a general downturn in the economy; changes in
government policy or regulation; changes in our ability to attract or
retain key employees; and unforeseen costs and other effects related to
legal proceedings or investigations of governmental and self-regulatory
organizations. We also direct your attention to any more specific
discussions of risk contained in our Form 10-K and other public filings.
We are providing these statements as permitted by the Private Litigation
Reform Act of 1995. We do not undertake to update publicly any
forward-looking statements if we subsequently learn that we are unlikely
to achieve our expectations or if we receive any additional information
relating to the subject matters of our forward-looking statements.
Gabelli Funds, LLC Bruce N. Alpert Agnes Mullady 914-921-5070 or For
further information please visit www.gabelli.com
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.