Ellsworth Growth and Income Fund Ltd. Declares Distribution of $0.16 per Share

Rhea-AI Summary

Ellsworth Growth and Income Fund Ltd. (NYSE American: ECF) has declared a quarterly cash distribution of $0.16 per share, payable on September 23, 2025, to shareholders of record as of September 16, 2025.

The Fund maintains a policy of distributing the greater of either 5% of its trailing 12-month average month-end market price or the minimum required distribution under IRS regulations. The 2025 distributions are expected to comprise approximately 20% from net investment income and 80% from net capital gains on a book basis.

The Board of Trustees regularly reviews distribution levels, considering the Fund's NAV and market conditions. The distribution policy may be modified or terminated at any time, and distributions could be taxed as long-term capital gains or qualified dividend income.

[ "Maintains consistent quarterly distribution policy", "80% of distributions come from net capital gains", "Flexible distribution approach considering market conditions" ]

Positive

• None.

Negative

• Distribution policy subject to modification or termination
• 3.8% Medicare surcharge applies to certain shareholders
• Potential return of capital if earnings don't cover distributions

News Market Reaction

+0.09%

1 alert

+0.09% News Effect

On the day this news was published, ECF gained 0.09%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

RYE, N.Y., Aug. 27, 2025 (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE American: ECF) (the “Fund”) declared a $0.16 per share cash distribution payable on September 23, 2025 to common shareholders of record on September 16, 2025.

The Fund intends to pay the greater of either an annual distribution of 5% of the Fund’s trailing 12-month average month-end market price or an amount that meets the minimum distribution requirement of the Internal Revenue Code for regulated investment companies.

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 current financial market environment. If necessary, the Fund pays an adjusting distribution in December, which includes any additional income and net realized capital gains in excess of the quarterly distributions. The Fund’s distribution policy is subject to modification or termination 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 with income that 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 in 2025 to common shareholders with respect to the Fund’s fiscal year ending September 30, 2025 would include approximately 20% from net investment income and 80% from net capital gains on a book basis. This information 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 2025 will be made after year end and can vary from the quarterly 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 2025 distributions in early 2026 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:

Bethany Uhlein
(914) 921-5546

About Ellsworth Growth and Income Fund
Ellsworth Growth and Income Fund Ltd. is a diversified, closed-end management investment company with $199 million in total net assets. ECF invests primarily in convertible securities and common stock with the objectives of providing income and the potential for capital appreciation, objectives the Fund considers to be relatively equal over the long-term due to the nature of the securities in which it invests. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE American: ECF
CUSIP – 289074106

Investor Relations Contact:
Bethany Uhlein
914.921.5546
buhlein@gabelli.com

FAQ

What is the dividend amount and payment date for ECF's latest distribution?

ECF declared a $0.16 per share cash distribution, payable on September 23, 2025 to shareholders of record on September 16, 2025.

How does ECF determine its distribution amount?

ECF distributes the greater of 5% of trailing 12-month average month-end market price or the minimum distribution required by IRS regulations for regulated investment companies.

What is the tax composition of ECF's 2025 distributions?

ECF's 2025 distributions are expected to comprise approximately 20% from net investment income and 80% from net capital gains on a book basis.

How often does ECF review its distribution policy?

The Board of Trustees reviews potential distributions quarterly, considering the Fund's income, realized capital gains, NAV, and market conditions.

What are the tax implications for ECF shareholders?

Distributions may be treated as long-term capital gains or qualified dividend income, subject to a maximum 20% federal tax rate. Some shareholders may also face a 3.8% Medicare surcharge.