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

Rhea-AI Summary

The Gabelli Dividend & Income Trust (NYSE:GDV) has announced the continuation of its fixed monthly cash distributions policy. The Board of Trustees declared $0.11 per share distributions for October, November, and December 2024. The Board is also evaluating strategic opportunities in the current attractive equity market environment.

Key points:

• Distribution dates: October 24, November 21, and December 20, 2024
• Record dates: October 17, November 14, and December 13, 2024
• 2024 distributions: Approximately 14% from net investment income, 86% from net capital gains
• The Fund's distribution policy is subject to modification
• Shareholders will receive Form 1099-DIV for tax reporting in early 2025

Positive

• Consistent monthly dividend of $0.11 per share maintained
• Board evaluating strategic opportunities in attractive equity market
• 14% of distributions from net investment income, indicating revenue generation

Negative

• 86% of distributions from net capital gains, potentially unsustainable in long term
• Distribution policy subject to modification, indicating potential future changes

RYE, N.Y., Aug. 23, 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 October, November, and December 2024.

Distribution Month	Record Date	Payable Date	Distribution Per Share
October	October 17, 2024	October 24, 2024	$0.11
November	November 14, 2024	November 21, 2024	$0.11
December	December 13, 2024	December 20, 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 14% from net investment income and 86% from net capital gains 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 monthly dividend amount for GDV stock in Q4 2024?

The Gabelli Dividend & Income Trust (GDV) has declared a monthly dividend of $0.11 per share for October, November, and December 2024.

When are the dividend payment dates for GDV in Q4 2024?

The dividend payment dates for GDV in Q4 2024 are October 24, November 21, and December 20.

What is the composition of GDV's 2024 distributions?

Based on current accounting records, GDV's 2024 distributions consist of approximately 14% from net investment income and 86% from net capital gains.

How often does GDV pay dividends?

GDV pays fixed monthly cash distributions, as approved by its Board of Trustees.

Is GDV's dividend policy subject to change?

Yes, the Fund's distribution policy is subject to modification by the Board of Trustees at any time, and there is no guarantee that the current policy will continue.