Company: GDV-PK
Filing Date: 2025-08-08
Form Type: N-14
Source: 0001829126-25-006008
Chunk: 21

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-08-08
Form: N-14
Chunk 21
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 2026. Therefore, for financial reporting purposes only, the dividends paid on the Series J Preferred Shares and Series M Preferred Shares of Dividend Fund are included as a component of “Interest Expense.”                                                                                                                     |
| (5) | “Other Expenses” are based on Dividend Trust’s actual operating expenses for the year ended December 31, 2024 and estimated amounts for Preferred Trust’s first full fiscal year.                                                                                                                                                                                                                                                                                                                                                 |
| (6) | Series J Preferred Shares of Dividend Trust have a mandatory redemption date of March 26, 2028 and Series M Preferred Shares of Dividend Trust have a mandatory redemption date of December 26, 2026. Therefore, for financial reporting purposes only, the dividends paid on the Series J Preferred Shares and Series M Preferred Shares of Dividend Fund are included as a component of “Interest Expense.”                                                                                                                     |
| (7) | Assumes Preferred Trust issues preferred shares with liquidation preference of $20 million and a dividend rate of 6.00%.                                                                                                                                                                                                                                                                                                                                                                                                          |

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Example

The following example illustrates the expenses you would pay on a $1,000 investment in common shares, assuming a 5% annual portfolio total return.*

|                               |     | 1 Year |    |     | 3 Years |    |     | 5 Years |     |     | 10 Years |     |
|:------------------------------|:----|:-------|---:|:----|:--------|---:|:----|:--------|----:|:----|:---------|----:|
| Dividend Trust Common Shares  |     | $      | 22 |     | $       | 67 |     | $       | 114 |     | $        | 246 |
| Preferred Trust Common Shares |     | $      | 29 |     | $       | 88 |     | $       | 149 |     | $        | 316 |

The example should not be considered a representation of future expenses. The example is based on total Annual Expenses and Dividends on Preferred Shares shown in the table above and assumes that the amounts set forth in the table do not change and that all distributions are reinvested at net asset value. Actual expenses may be greater or less than those assumed. Moreover, the Fund’s actual rate of return may be greater or less than the hypothetical 5% return shown in the example.

The example includes Dividends on Preferred Shares. If Div