Company: GDV-PK
Filing Date: 2025-02-24
Form Type: 425
Source: 0001839882-25-010643
Chunk: 0

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-02-24
Form: 425
Chunk 0
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| THE GABELLI DIVIDEND & INCOME TRUST 
 Investor Relations Team:            
 Carter Austin                       
 Laurissa Martire                    
 David Schachter                     
 Bethany Uhlein                      
 (914) 921-5070                      
 ClosedEnd@gabelli.com               |

PRESS R ELEASE

For Immediate Release

<div align='center'>GABELLI DIVIDEND & INCOME TRUST
TRUSTEES HAVE APPROVED SPIN-OFF OF
GABELLI PREFERRED SECURITIES TRUST
FOCUSING ON PREFERRED SECURITIES</div>

Rye, NY–February 24, 2025 –The Board of Trustees of The Gabelli Dividend & Income Trust
(NYSE: GDV) (the “Fund”or “GDV”)
has approved the spin off a newly created closed-end fund (Gabelli Preferred Securities Trust or “GPS”) whose investment objective
will be to seek income and capital appreciation by investing in preferred securities. As investor preferences change and vary across portions
of the capital structure, the Fund, which has focused on common equity, is considering additional allocation to preferred securities.

The Fund would contribute approximately $150
million of its cash and/or securities to GPS and would then distribute all of the shares of GPS pro rata to the common shareholders of
GDV. GPS will seek to have its shares listed on the New York Stock Exchange. Following the spin off, GPS is expected to deploy leverage,
the amount of which is to be determined.

It is expected that GDV’s distribution
policy will remain unchanged. The Board of Trustees of GPS will determine the distribution rate of the new closed-end fund at the time
of the spin-off.

The transaction is expected to be voted upon
at a meeting of shareholders of the Fund following requisite regulatory approvals. There are no assurances that such shareholder and regulatory
approvals will be received.

The Board of Trustees of the Fund will determine
the amount of cash and/or securities to be contributed, the number of shares to be distributed, and the record and distribution dates,
which will be announced at a later time.

For more information regarding this press release, call:

Investor Relations Team

Carter Austin, Laurissa Martire, David Schachter, and Bethany Uhlein

(914) 921-5070

This press release is not intended to, and does not
constitute an offer to purchase or sell any securities; nor is this press release intended to solicit a proxy from any shareholder.