Company: GDV-PK
Filing Date: 2025-08-08
Form Type: N-14
Source: 0001829126-25-006008
Chunk: 29

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-08-08
Form: N-14
Chunk 29
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2) of the 1933 Act and Rule 144 thereunder.

Costs Associated With Sales of Preferred Trust Common Shares

If a Dividend Trust common shareholder sells Preferred Trust Common Shares that he or she receives in the Distribution, the shareholder may incur brokerage commissions and the sale may constitute a taxable event for the shareholder. Although it is anticipated that Preferred Trust Common Shares will be listed on the NYSE, Preferred Trust is newly organized and has no operating history or history of public trading. There can be no assurance as to the depth and liquidity of the market that may develop for Preferred Trust Common Shares.

Allocation of Investment Opportunities

After the Distribution, Dividend Trust and Preferred Trust and other clients of the Investment Adviser or its affiliates may purchase or sell the same securities. The Investment Adviser follows a policy of allocating purchases and sales of the same security among Dividend Trust and other managed accounts in a manner deemed fair and equitable to all accounts. See “Portfolio Transactions.”

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INVESTMENT OBJECTIVES AND POLICIES OF DIVIDEND TRUST AND Preferred Trust</div>

Dividend Trust

The objective of Dividend Trust is to provide a high level of total return on its assets with an emphasis on dividends and income. No assurance can be given that Dividend Trust will achieve its investment objective. Dividend Trust will attempt to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in dividend paying or other income producing securities. In addition, under normal market conditions, at least 50% of Dividend Trust’s assets consist of dividend paying equity securities. In making stock selections, the Investment Adviser looks for securities that have a superior yield and capital gains potential.

Preferred Trust

The primary objective of Preferred Trust is current income, with a secondary objective of capital appreciation. No assurance can be given that Preferred Trust will achieve its investment objective. Preferred Trust will attempt to achieve its investment objective by investing, under normal market conditions, at least 80% of its net asset plus borrowings for investment purposes in preferred securities.

Preferred Trust’s policy to invest at least 80% of its net assets in preferred securities may be changed by the Board; however, if this policy changes, Preferred Trust will provide shareholders at least 60 days’ written notice before implementation of the change in compliance with SEC rules.

Certain Investment Practices

Except as noted below, Dividend Trust and Preferred Trust generally have the same investment practices. Each Fund’s investment practices are discussed below.

Equity Securities