Company: GDV-PK
Filing Date: 2025-03-10
Form Type: N-CSR
Source: 0001829126-25-001652
Chunk: 65

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-03-10
Form: N-CSR
Chunk 65
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 issue the securities or in which the issuers are located. Certain countries in which the Fund may invest have historically experienced, and may continue to experience, high rates of inflation, high interest rates, exchange rate fluctuations, large amounts of external debt, balance of payments and trade difficulties and extreme poverty and unemployment. Many of these countries are also characterized by political uncertainty and instability. The cost of servicing external debt will generally be adversely affected by rising international interest rates because many external debt obligations bear interest at rates which are adjusted based upon international interest rates.

The Fund also may purchase ADRs or U.S. dollar-denominated securities of foreign issuers. ADRs are receipts issued by U.S. banks or trust companies in respect of securities of foreign issuers held on deposit for use in the U.S. securities markets. While ADRs may not necessarily be denominated in the same currency as the securities into which they may be converted, many of the risks associated with foreign securities may

66

The Gabelli Dividend & Income Trust

Additional Fund Information (Continued) (Unaudited)

also apply to ADRs. In addition, the underlying issuers of certain depositary receipts, particularly unsponsored or unregistered depositary receipts, are under no obligation to distribute shareholder communications to the holders of such receipts, or to pass through to them any voting rights with respect to the deposited securities.

The following provides more detail on certain pronounced risks with foreign investing:

| ● | Foreign                                                                                                                                   
 Currency Risk. The Fund may invest in companies whose securities are denominated or quoted in currencies other than U.S. dollars          
 or have significant operations or markets outside of the United States. In such instances, the Fund will be exposed to currency risk,     
 including the risk of fluctuations in the exchange rate between U.S. dollars (in which the Fund’s shares are denominated) and             
 such foreign currencies, the risk of currency devaluations and the risks of non-exchangeability and blockage. As non-U.S. securities      
 may be purchased with and payable in currencies of countries other than the U.S. dollar, the value of these assets measured in U.S.       
 dollars may be affected favorably or unfavorably by changes in currency rates and exchange control regulations. Fluctuations in currency  
 rates may adversely affect the ability of the Investment Adviser to acquire such securities at advantageous prices and may also adversely 
 affect the performance of such assets.                                                                                                    |

Certain non-U.S. currencies, primarily in developing countries, have been de