Company: GDV-PK
Filing Date: 2025-08-08
Form Type: N-14
Source: 0001829126-25-006008
Chunk: 24

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-08-08
Form: N-14
Chunk 24
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 for every twenty (20) Dividend Trust Common Shares held. Holders of Dividend Trust Preferred Shares will not participate in the Transaction, and the Transaction will not affect those holders except that the asset coverage of Dividend Trust Preferred Shares as required under the 1940 Act and under rating agency guidelines will be reduced to an immaterial extent. A vote will not be taken on the Transaction unless and until the Commission issues an exemptive order with respect to the Transaction.

Dividend Trust’s investment objective is to provide a high level of total return on its assets with an emphasis on dividends and income. Dividend Trust attempts to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in dividend paying securities (such as common and preferred stock) or other income producing securities (such as fixed-income securities and securities that are convertible into common stock). In addition, under normal market conditions, at least 50% of Dividend Trust’s assets consist of dividend paying equity securities. Dividend Trust may invest up to 35% of its total assets in the securities of non-U.S. issuers (including securities of companies in emerging markets) and up to 25% of its total assets in securities of issuers in a single industry. There is no minimum credit rating for fixed-income debt securities in which Dividend Trust may invest, although it will not invest more than 10% of its total assets in fixed-income nonconvertible securities rated in the lower rating categories of recognized statistical rating agencies. Dividend Trust’s investments in the lower rating categories are typically those rated “BB” by Standard & Poor’s Ratings Services (“S&P”) or “Ba” by Moody’s Investors Service, Inc. (“Moody’s”) or unrated securities of comparable quality, all of which are commonly referred to as “junk bonds.”

The primary investment objective of Preferred Trust is current income, with a secondary objective of capital appreciation. Preferred Trust attempts 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 will register under the 1940 Act as a diversified, closed-end investment company, and the Investment Adviser will serve as investment adviser to Preferred Trust. The advisory fee structure for Preferred Trust will be the same as that for Dividend Trust (See “Management of Dividend Trust and Preferred Trust” herein and “Investment Advisory and Administrative Arrangements” in the SAI.), and application will be made