Company: GDV-PK
Filing Date: 2025-03-10
Form Type: N-CSR
Source: 0001829126-25-001652
Chunk: 53

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-03-10
Form: N-CSR
Chunk 53
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 if interest rates decline. The Fund also may invest in inverse floating rate securities, which may decrease in value if interest rates increase, and which also may exhibit greater price volatility than fixed rate obligations with similar credit quality. To the extent the Fund holds variable or floating rate instruments, a decrease (or, in the case of inverse floating rate securities, an increase) in market interest rates will adversely affect the income received from such securities, which may adversely affect the net asset value of the Fund’s common shares.

56

The Gabelli Dividend & Income Trust

Additional Fund Information (Continued) (Unaudited)

Central banks such as the Federal Reserve Bank have been increasing interest rates, though this trend has tempered recently as the rate of inflation slows. There is a risk that heightened interest rates may cause the economy to enter a recession. Any such recession would negatively impact the Fund and the investments held by the Fund. These impacts may include:

| ● | severe                                   
 declines in the Fund’s net asset values; |

| ● | inability                                                  
 of the Fund to accurately or reliably value its portfolio; |

| ● | inability                                          
 of the Fund to pay any dividends or distributions; |

| ● | inability                                                                                                              
 of the Fund to maintain its status as a registered investment company (“RIC”) under the internal Revenue Code of 1986, 
 as amended (the “Code”);                                                                                               |

| ● | declines                                
 in the value of the Fund’s investments; |

| ● | increased                                                                 
 risk of default or bankruptcy by the companies in which the Fund invests; |

| ● | increased                                                                                                                         
 risk of companies in which the Fund invests being unable to weather an extended cessation of normal economic activity and thereby 
 impairing their ability to continue functioning as a going concern; and                                                           |

| ● | limited                                       
 availability of new investment opportunities. |

Inflation Risk.Inflation risk is the risk that the value of assets or income from investments will be worth less in the future as inflation decreases the value of money. Inflation rates may change frequently and significantly as a result of various factors, including unexpected shifts in the domestic or global economy and changes in economic policies, and the Fund’s investments may not keep pace with inflation, which may result in losses to Fund shareholders. As inflation increases, the real value of the Fund’s shares and dividends may decline. In addition, during any periods of rising inflation, interest rates of any debt securities held by the Fund would likely increase, which would tend to further reduce returns to