Company: GDV-PK
Filing Date: 2025-08-08
Form Type: N-14
Source: 0001829126-25-006008
Chunk: 93

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-08-08
Form: N-14
Chunk 93
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 a more detailed discussion of the Fund’s brokerage allocation practices, see “Portfolio Transactions” in the SAI.

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DIVIDENDS AND DISTRIBUTIONS</div>

In order to allow its holders of common shares to realize a predictable, but not assured, level of cash flow and some liquidity periodically on their investment without having to sell shares, Dividend Trust has adopted a policy, which may be changed at any time by the Board of Trustees, of paying monthly distributions on its common shares. If necessary, Dividend Trust 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 Code.

Dividend Trust makes distributions monthly pursuant to its distribution policy, and Preferred Trust will distribute quarterly. The distribution policy of Preferred Trust may be modified from time to time by Preferred Trust’s Board. As a RIC under the Code, Preferred Trust will not be subject to U.S. federal income tax on any taxable income that it distributes to shareholders, provided that at least 90% of its investment company taxable income for that taxable year is distributed to its shareholders.

Each Fund’s annualized distributions may contain a return of capital and should not be considered as the dividend yield or total return of an investment in its common shares. A portion of Dividend Trust’s common share distributions for the years ending 2023, 2022, 2020, 2019 and 2018 have included a return of capital. The distribution for the year ended 2021 did not include a return of capital. For the fiscal year ended December 31, 2024, Dividend Trust made distributions of $1.32 per common share, approximately none of which constituted a return of capital. The composition of each distribution is estimated based on earnings as of the record date for each distribution. The actual composition of each distribution may change based on the Fund’s investment activity through the end of the calendar year. To avoid paying income tax at the corporate level, each Fund will distribute substantially all of its investment company taxable income and previously undistributed cumulative net capital gain.

Each Fund may retain for reinvestment, and pay the resulting U.S. federal income taxes on its net capital gain, if any, although, as previously mentioned, each Fund intends to distribute substantially all of its previously undistributed cumulative net capital gain each year. In the event that a Fund’s investment company taxable income and net capital gain exceeds the total of the Fund’s monthly