Company: GDV-PK
Filing Date: 2025-08-11
Form Type: 40-APP
Source: 0001829126-25-006051
Chunk: 1

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-08-11
Form: 40-APP
Chunk 1
---
AIN JOINT TRANSACTIONS. |
|                                      | : |                                                                                                                                                                                                                                                                                |

The Gabelli Dividend & Income Trust (“Dividend Trust”), The Gabelli Preferred & Income Trust (“Preferred Trust” and together with Dividend Trust, the “Funds”) and Gabelli Funds, LLC (the “Adviser” and together with the Dividend Trust and the Preferred Trust, the “Applicants”) hereby submit this application for an order of the Securities and Exchange Commission (the “Commission”), (i) pursuant to Section 17(b) of the Investment Company Act of 1940 (the “1940 Act”), granting an exemption from Section 17(a) thereof, and (ii) pursuant to Section 17(d) of the 1940 Act and Rule 17d-1 thereunder, approving certain transactions, to permit (a) the contribution of a segment of Dividend Trust’s assets (which is anticipated to consist largely or exclusively of cash, preferred securities, and other income-producing securities) having a value of approximately $100 million to Preferred Trust, a Delaware statutory trust organized on May 12, 2025 and wholly owned by Dividend Trust, and (b) the subsequent distribution by Dividend Trust of all of the common shares of beneficial interest, par value $0.001, of Preferred Trust (“Preferred Trust Common Shares”) as a dividend to holders of Dividend Trust Common Shares (as defined below) at an anticipated rate of one Preferred Trust Common Share for every twenty common shares of beneficial interest, par value $0.001, of Dividend Trust (“Dividend Trust Common Shares”) held. The contribution of such Dividend Trust assets to Preferred Trust and the subsequent distribution of Preferred Trust Common Shares to holders of Dividend Trust Common Shares are together referred to herein as the “Transaction.”

<div align='center'>2</div>

| I. | Description of Applicants |

Dividend Trust is a Delaware
statutory trust that commenced investment operations on November 28, 2003, and is registered under the 1940 Act. Currently, Dividend
Trust operates as a diversified, closed-end management investment company seeking to provide a high level of total return on its assets
with an emphasis on dividends and income. As of July 25, 2025, Dividend Trust’s total assets approximated $3.02 billion, including
the liquidation preference of its preferred shares outstanding, and its total net assets attributable to Dividend Trust Common Shares
approximated $2.5 billion