Ellsworth Growth and Income Fund (NYSE American: ECF) declared a $0.19 per share cash distribution, payable June 23, 2026 to shareholders of record on June 15, 2026.
The Fund targets annual distributions of at least 5% of its trailing 12‑month average market price or the amount required under tax rules, with 2026 distributions currently estimated as about 5% net investment income and 95% net capital gains on a book basis.
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Positive
$0.19 per share cash distribution payable June 23, 2026
Annual distribution target of at least 5% of market price
2026 distributions estimated 95% net capital gains, 5% income
Negative
Distribution policy may be modified or terminated at any time
Distributions can include non-taxable return of capital reducing cost basis
Taxable investors may face 20% capital gains rate plus 3.8% surcharge
News Market Reaction – ECF
+1.32%
+1.32%Session close to close
In the May 13 session, ECF gained 1.32%, reflecting a mild positive market reaction.
RYE, N.Y., May 13, 2026 (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE American: ECF) (the “Fund”) declared a $0.19 per share cash distribution payable on June 23, 2026 to common shareholders of record on June 15, 2026.
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 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 2026 to common shareholders with respect to the Fund’s fiscal year ending September 30, 2026 would include approximately 5% from net investment income and 95% 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. The final determination of the sources of all distributions in 2026 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 2026 distributions in early 2027 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 $230 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
ELLSWORTH GROWTH AND INCOME FUND LTD. Investor Relations Contact: Bethany Uhlein 914.921.5546 buhlein@gabelli.com
FAQ
What dividend did Ellsworth Growth and Income Fund (ECF) declare on May 13, 2026?
Ellsworth Growth and Income Fund declared a $0.19 per share cash distribution for common shareholders. According to the Fund, it will be paid on June 23, 2026 to shareholders of record as of June 15, 2026 on the NYSE American.
When are the record date and payment date for ECF's $0.19 distribution in 2026?
The record date is June 15, 2026 and the payment date is June 23, 2026. According to the Fund, common shareholders on record at the close of business June 15 will receive the $0.19 per share cash distribution.
What is Ellsworth Growth and Income Fund's (ECF) distribution policy in 2026?
Ellsworth targets the greater of 5% of its trailing 12‑month average market price or the minimum required distribution. According to the Fund, the Board reviews distributions quarterly and may adjust amounts, including a potential December adjustment distribution if needed.
How are Ellsworth Growth and Income Fund (ECF) 2026 distributions estimated to be composed?
For 2026, distributions are estimated at about 5% from net investment income and 95% from net capital gains on a book basis. According to the Fund, final tax components will be determined after year-end and may differ from these quarterly estimates.
How might Ellsworth Growth and Income Fund (ECF) distributions be taxed for individual investors in 2026?
ECF distributions may be treated as long-term capital gains, qualified dividend income, investment company taxable income or return of capital. According to the Fund, individuals may face up to a 20% federal capital gains rate plus a 3.8% Medicare surcharge, depending on income.
Can Ellsworth Growth and Income Fund (ECF) distributions include a return of capital?
Yes, if annual earnings are less than total distributions, the excess may be return of capital. According to the Fund, this portion is generally not taxable when received but reduces the shareholder’s cost basis, potentially affecting future gain or loss on sale.
Does the Ellsworth Growth and Income Fund (ECF) distribution policy guarantee future dividends?
No, the distribution policy does not guarantee future dividends. According to the Fund, the Board of Trustees may modify or terminate the policy at any time, and shareholders should not infer investment performance from the amount of any current distribution.
