Company: GDV-PK
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001133228-25-002931
Chunk: 26

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 26
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 “Governing Documents”
means the Fund’s Agreement and Declaration of Trust and By-Laws, together with any amendments or supplements thereto, including
any Statement of Preferences establishing a

| 19 |

series of preferred
shares) with respect to the control shares acquired in the control share acquisition, except to the extent approved by the Fund’s
shareholders by the affirmative vote of two–thirds of all the votes entitled to be cast on the matter, excluding all interested
shares (generally, shares held by the acquiring person and their associates and shares held by Fund insiders).

The DSTA Control Share Statute
provides for a series of voting power thresholds above which shares are considered control shares. Whether one of these thresholds of
voting power is met is determined by aggregating the holdings of the acquiring person as well as those of his, her or its “associates.”
These thresholds are:

| • | 10%                                             
 or more, but less than 15% of all voting power; |

| • | 15%                                             
 or more, but less than 20% of all voting power; |

| • | 20%                                             
 or more, but less than 25% of all voting power; |

| • | 25%                                             
 or more, but less than 30% of all voting power; |

| • | 30%                                                       
 or more, but less than a majority of all voting power; or |

| • | a                                     
 majority or more of all voting power. |

Under the DSTA Control Share Statute,
once a threshold is reached, an acquirer has no voting rights with respect to shares in excess of that threshold (i.e., the “control
shares”) until approved by a vote of shareholders, as described above, or otherwise exempted by the Fund’s Board of Trustees.
The DSTA Control Share Statute contains a statutory process for an acquiring person to request a shareholder meeting for the purpose
of considering the voting rights to be accorded control shares. An acquiring person must repeat this process at each threshold level.
The DSTA Control Share Statute effectively allows non-interested shareholders to evaluate the intentions and plans of an acquiring person
above each threshold level.

Under the DSTA Control Share Statute,
an acquiring person’s “associates” are broadly defined to include, among others, relatives of the acquiring person,
anyone in a control relationship with the acquiring person, any investment fund or other collective investment vehicle that has the same