Company: GDV-PK
Filing Date: 2025-08-08
Form Type: N-14
Source: 0001829126-25-006008
Chunk: 128

Company: GABELLI DIVIDEND & INCOME TRUST
Filing Date: 2025-08-08
Form: N-14
Chunk 128
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 having a value of approximately $100 million (approximately 4% of Dividend Trust’s net assets attributable to Dividend Trust Common Shares as of July 25, 2025), to a newly-organized, diversified, closed-end management investment company, The Gabelli Preferred & Income Trust (“Preferred Trust”), and the distribution to common shareholders of Dividend Trust common shares of beneficial interest of Preferred Trust(“Preferred Trust Common Shares”) at an approximate rate of one (1) Preferred Trust Common Share for every twenty (20) common shares of beneficial interest of Dividend Trust (“Dividend Trust Common Shares”). Each of Dividend Trust and Preferred Trust are referred to herein as a “Fund,” and together as the “Funds.” The contribution of such Dividend Trust assets to Preferred Trust and the subsequent distribution of Preferred Trust’s shares to Dividend Trust common shareholders are referred to herein as the “Transaction.”

This SAI contains information which may be of interest to shareholders of Dividend Trust relating to the Transaction, but which is not included in the Proxy Statement/Prospectus dated [date] (the “Proxy Statement/Prospectus”).

This SAI is not a prospectus, and should be read in conjunction with the Proxy Statement/Prospectus. The Proxy Statement/Prospectus has been filed with the Securities and Exchange Commission (the “Commission”), and is available upon request and without charge by calling Dividend Trust at 800-Gabelli (800-422-3554).

Capitalized terms used in this SAI and not otherwise defined herein have the meanings given them in the Proxy Statement/Prospectus.

<div align='center'>TABLE OF CONTENTS</div>

| RISK FACTORS AND SPECIAL CONSIDERATIONS          |     | S-1  |
| MANAGEMENT OF DIVIDEND TRUST AND PREFERRED TRUST |     | S-6  |
| PORTFOLIO TRANSACTIONS                           |     | S-25 |
| PORTFOLIO TURNOVER                               |     | S-26 |
| BENEFICIAL OWNERS                                |     | S-27 |
| GENERAL INFORMATION                              |     | S-30 |
| APPENDIX A GAMCO INVESTORS, INC. AND AFFILIATES  |     | A-1  |
| APPENDIX B PROXY GUIDELINES                      |     | B-1  |
| PART C OTHER INFORMATION                         |     | C-1  |

<div align='center'>S-i

RISK FACTORS