# EDGAR Filing Document

**Accession Number:** 0001260729
**File Stem:** 0001062993-26-000125
**Filing Date:** 2026-1
**Character Count:** 24876
**Document Hash:** 3e02e1ccc31944f8ac420b20a6f25291
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-26-000125.hdr.sgml**: 20260108

**ACCESSION NUMBER**: 0001062993-26-000125

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260108

**DATE AS OF CHANGE**: 20260108

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GABELLI DIVIDEND & INCOME TRUST
- **CENTRAL INDEX KEY:** 0001260729

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-84324
- **FILM NUMBER:** 26519502

**BUSINESS ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** (914) 921-5070

**MAIL ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Saba Capital Management, L.P.
- **CENTRAL INDEX KEY:** 0001510281

**ORGANIZATION NAME:**
- **EIN:** 800361690
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 405 LEXINGTON AVENUE
- **STREET 2:** 58TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10174
- **BUSINESS PHONE:** 212-542-4635

**MAIL ADDRESS:**
- **STREET 1:** 405 LEXINGTON AVENUE
- **STREET 2:** 58TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10174

## Ex-3

------

**Saba** **Ca** **pital** **Management, L.P.**<br> **405** **Lexington Avenue,** **58th** **Floor**<br> **N** **e** **w** **York,** **NY** **10174**

[ ]

Private & Confidential

[ ]

Dear [ ]:

This will confirm our understanding as follows:

You agree that you are willing, should we so elect, to become a member of a slate of nominees (the "<u>Slate</u>") of an affiliate of Saba Capital Master Fund, Ltd. (the "<u>Nom</u><u>inating</u> <u>Party</u>"), to stand for election as a trustee of The Gabelli Dividend & Income Trust (the "<u>Fund</u>"), in connection with a proxy solicitation (the "<u>P</u><u>roxy Solicitation</u>") to be conducted by the Nominating Party and certain other parties in respect of the 2026 annual meeting of shareholders of the Fund, expected to be held on or about May 2026 (including any adjournment or postponement thereof or any special meeting held in lieu thereof, the "<u>Annual</u> <u>Meeting</u>") or appointment or election by other means. You further agree to serve as a trustee of the Fund if so elected or appointed. The Nominating Party agrees to pay all of the costs arising from the Proxy Solicitation (the "<u>Proxy</u> <u>Related Costs</u>"). For the avoidance of doubt, the Nominating Party shall not be obligated to pay any costs in connection with your role as a trustee of the Fund.

You understand that it may be difficult, if not impossible, to replace a nominee who, such as yourself, has agreed to serve on the Slate and, if elected or appointed, as a trustee of the Fund if such nominee later changes his mind and determines not to serve on the Slate or, if elected or appointed, as a trustee of the Fund. Accordingly, the Nominating Party is relying upon your agreement to serve on the Slate and, if elected or appointed, as a trustee of the Fund. In that regard, you may be supplied with a questionnaire by the Fund containing a variety of questions related to your nomination that must be completed along with representations regarding your independence and compliance with Fund guidelines (the "<u>Fund</u> <u>Questionnaire</u>"). You will also be supplied with a questionnaire by the Nominating Party (the "<u>Internal</u> <u>Qu</u><u>estionnaire</u>" and together with the Fund Questionnaire, the "<u>Questionna</u><u>ire</u><u>s</u>") in which you will provide the Nominating Party with information necessary for the Nominating Pa1ty to use in creating the proxy solicitation materials to be sent to the shareholders of the Fund and filed with the Securities and Exchange Commission in connection with the Proxy Solicitation.

You agree that (i) you will promptly complete and sign the Questionnaire, and return a copy either to the person indicated in the Questionnaire or the individual who sends you the Questionnaire; (ii) your responses in the Questionnaire will be true, complete, and correct in all respects; and (iii) you will provide any additional information as may be reasonably requested by the Nominating Party. In addition, you agree that, concurrently with your execution of this letter, you will execute and return to the person indicated in the Questionnaire the attached instrument confirming that you consent to being nominated for election as a trustee of the Fund and, if elected or appointed, consent to serving as a trustee of the Fund. Upon being notified that we have chosen you, we may forward your consent and your completed Questionnaire (or summary thereof) to the Fund, and we may at any time, in our discretion, disclose such information, as well as the existence and contents of this letter. Furthermore, you understand that we may elect, at our expense, to conduct a background and reference check on you, and you agree to complete and execute any necessary authorization forms or other documents required in connection therewith. You agree that the Nominating Party may use your name in any statement, filing, or other communication to the extent required by law or that is in accordance with applicable law and is reasonably required in connection with the Proxy Solicitation (including, without limitation, in its notice of nomination to the Fund, its proxy statement, and its proxy card in connection with the Proxy Solicitation).

------

You further agree that you will neither agree to serve nor agree to be nominated to stand for election by the Fund or any other shareholder of the Fund (other than the Nominating Party), as a trustee of such Fund without the prior approval of the Nominating Party.

In consideration of your agreement to serve on the Slate, in addition to the Proxy Related Costs, the Nominating Party (excluding, for the avoidance of doubt, Saba Capital Management, L.P. and any registered investment company advised by Saba Capital Management, L.P.), agrees that the Nominating Party will defend, indemnify, and hold you harmless from and against any and all losses, claims, damages, penalties, judgments, awards, settlements, liabilities, costs, expenses, and disbursements (including, without limitation, attorneys' fees, costs, expenses, and disbursements) ("<u>Losses</u>") incurred by you in the event that you become a party, or are threatened to be made a party, to any civil, criminal, administrative or arbitrative action, suit, or proceeding, and any appeal thereof, (i) relating, solely, to your role as a nominee for trustee of the Fund on the Slate, or (ii) otherwise arising from or in connection with or relating to the Proxy Solicitation. For the avoidance of doubt, the Nominating Party shall not be obligated to indemnify, defend, or hold you harmless from and against any Losses based upon, relating to, arising from, or in connection with your service as a trustee of the Fund. Your right of indemnification hereunder shall continue after the Annual Meeting has taken place but only for events that occurred prior to the Annual Meeting and subsequent to the date hereof that are based upon, relating to, arising from, or in connection with the Proxy Solicitation. Anything to the contrary herein notwithstanding, the Nominating Party is not indemnifying you for any actions taken by you or on your behalf that occur (i) from the time you were first contacted by the Nominating Party up to and before the date hereof; (ii) subsequent to the conclusion of the Proxy Solicitation or such earlier time as you are no longer a nominee on the Slate; or (iii) while a trustee of the Fund, if you are elected or appointed. The indemnification to which you are entitled shall be reduced to the extent, if any, that the claim for indemnification is impacted by you (i) having been found to have engaged in a violation of any provision of state or federal law in connection with the Proxy Solicitation, unless you demonstrate that your action was taken in good faith and in a manner you reasonably believed either to be in or not opposed to the best interests of electing the Slate; (ii) having acted in a manner that constitutes gross negligence, bad faith, fraud, willful misconduct, intentional and material violations of law, criminal actions, or breach of the terms of this letter agreement; or (iii) having provided false or misleading information, or omitted material information, either in the Questionnaire or otherwise in connection with the Proxy Solicitation. You shall promptly notify the Nominating Party in writing in the event of any third-party claims actually made against you or known by you to be threatened if you intend to seek indemnification hereunder in respect of such claims. In addition, upon your delivery of notice with respect to any such claim, the Nominating Party shall promptly assume control of the defense of such claim with counsel chosen by the Nominating Party. The Nominating Party shall not be responsible for any settlement of any claim against you covered by this indemnity without its prior written consent. The Nominating Party may not enter into any settlement of any claim without your consent unless such settlement includes (i) no admission of liability or guilt by you and (ii) an unconditional release of you from any and all liability or obligation in respect of such claim.

------

Each of us recognizes that, should you be elected or appointed to the board of trustees of the Fund, all of your activities and decisions as a trustee will be governed by applicable law and subject to your fiduciary duties to the Fund and to the shareholders of the Fund and, as a result, that there is, and can be, no agreement between you and the Nominating Party that governs the decisions which you will make as a trustee of the Fund.

This letter agreement shall automatically terminate on the earliest to occur of (i) the conclusion of the Annual Meeting (regardless of the outcome); (ii) your election or appointment to the board of trustees of the Fund; or (iii) our communication to you of either our intent not to proceed with the Proxy Solicitation, not to include you in the Slate, or to no longer include you in the Slate.

This letter agreement sets forth the entire agreement between the Nominating Party and you as to the subject matter contained herein, and cannot be amended, modified, or terminated except by a writing executed by the Nominating Party and you. This letter shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to principles of conflicts of law. This letter may be signed in counterparts each one of which is considered an original, but all of which constitute one and the same instrument.

Each of us hereby irrevocably and unconditionally consents to submit to the non exclusive jurisdiction of the courts of the State of New York and of the United States of America, in each case located in the County of New York, for any litigation arising out of or relating to this letter, and waives any objection to the laying of venue of any litigation arising out of this letter in the courts of the State of New York or of the United States of America, in each case located in the County of New York, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum.

*[remainder of this page left intentionally blank]*

------

Should the foregoing agree with your understanding, please so indicate in the space provided below, whereupon this letter will become a binding agreement between us. <br>

---

| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Saba Capital Master Fund, Ltd. | Saba Capital Master Fund, Ltd. |
| By: | Saba Capital Management, L.P. as investment manager |
|  | Name: Michael D' Angelo |
|  | Title: Chief Operating Officer and General Counsel |

---

Agreed to and accepted as

of the date first written above:

By: _____________

Name:

*[signature page to Nom i nee Agreement]*

------

## Ex-4

------

<u>EXHIBIT 4</u>

<u>Schedule A</u>

This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital within the past sixty days prior to 1/7/26, the date of the event which required filing of this Schedule 13D/A. Unless otherwise indicated below, all trades were effected in the open market.

---

| | | | |
|:---|:---|:---|:---|
| **Trade Date** | **Buy/Sell** | **Shares** | **Price** |
| 11/14/2025 | Sell | 3895 | 27.07 |
| 11/17/2025 | Sell | 3667 | 26.96 |
| 11/18/2025 | Sell | 3100 | 26.53 |
| 11/19/2025 | Sell | 12975 | 26.47 |
| 11/20/2025 | Sell | 739 | 26.93 |
| 11/21/2025 | Sell | 8217 | 26.46 |
| 11/25/2025 | Sell | 21200 | 26.93 |
| 11/26/2025 | Sell | 11322 | 27.20 |
| 11/28/2025 | Sell | 370\*\* | 0.00 |
| 12/1/2025 | Sell | 12755 | 27.23 |
| 12/2/2025 | Sell | 14087 | 27.11 |
| 12/4/2025 | Sell | 7709 | 27.29 |
| 12/5/2025 | Sell | 13797 | 27.36 |
| 12/8/2025 | Sell | 8234 | 27.38 |
| 12/17/2025 | Sell | 1500 | 27.35 |
| 12/18/2025 | Sell | 19296 | 27.29 |
| 12/19/2025 | Sell | 23240 | 27.56 |
| 12/22/2025 | Sell | 15088 | 27.66 |
| 12/23/2025 | Sell | 7364 | 27.65 |
| 12/24/2025 | Sell | 10146 | 27.70 |
| 12/26/2025 | Sell | 8386 | 27.81 |
| 12/30/2025 | Sell | 6609 | 27.81 |
| 12/31/2025 | Sell | 14885 | 27.82 |
| 1/2/2026 | Sell | 9000 | 27.68 |
| 1/5/2026 | Sell | 18132 | 27.92 |
| 1/6/2026 | Sell | 19314 | 28.14 |
| 1/7/2026 | Sell | 10008 | 28.23 |

---

\*\*Pro-rata distribution in-kind for no consideration.

------

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 3)**

**The Gabelli Dividend & Income Trust**

*(Name of Issuer)*

**Common Shares, $0.001 par value**

*(Title of Class of Securities)*

**36242H104**

*(CUSIP Number)*

**Saba Capital Management, L.P.**<br>405 Lexington Avenue, 58th Floor<br>Attention: Michael D'Angelo<br>New York NY 10174<br>(212) 542-4635

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**01/07/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **36242H104** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Saba Capital Management, L.P.** | Name of reporting person<br>**Saba Capital Management, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5694804.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5694804.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5694804.00** | Aggregate amount beneficially owned by each reporting person<br>**5694804.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.43%** | Percent of class represented by amount in Row (11)<br>**6.43%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The percentages used herein are calculated based upon 88,619,647 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.

| **CUSIP No.** | **36242H104** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Boaz R. Weinstein** | Name of reporting person<br>**Boaz R. Weinstein** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NEW YORK** | Citizenship or place of organization<br>**NEW YORK** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5694804.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5694804.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5694804.00** | Aggregate amount beneficially owned by each reporting person<br>**5694804.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.43%** | Percent of class represented by amount in Row (11)<br>**6.43%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The percentages used herein are calculated based upon 88,619,647 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.

| **CUSIP No.** | **36242H104** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Saba Capital Management GP, LLC** | Name of reporting person<br>**Saba Capital Management GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5694804.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5694804.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5694804.00** | Aggregate amount beneficially owned by each reporting person<br>**5694804.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**6.43%** | Percent of class represented by amount in Row (11)<br>**6.43%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The percentages used herein are calculated based upon 88,619,647 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Shares, $0.001 par value

**(b) Name of Issuer:**
The Gabelli Dividend & Income Trust

**(c) Address of Issuer's Principal Executive Offices:**
One Corporate Center, Rye, NY, 10580

This Amendment No. 3 amends Items 3, 4, 5, and 7.

**Item 4. Purpose of Transaction**

Item 4 is hereby amended and supplemented by the addition of the following:

On January 7, 2026, Saba Capital Master Fund, Ltd. ("SCMF"), a private fund advised by Saba Capital, submitted to the Issuer a notice of intent informing the Issuer of its intention to nominate Andre Clemot (the "Nominee") as an independent trustee for election to the Board at the Issuer's 2026 annual meeting of shareholders (the "Annual Meeting").

The Nominee has entered into a nomination agreement (the "Nominee Agreement") with SCMF substantially in the form attached as Exhibit 3 to this Schedule 13D/A whereby the Nominee agreed to stand for election as an individual trustee of the Issuer in connection with a proxy solicitation which may be conducted in respect of the Annual Meeting, and SCMF has agreed to defend and indemnify the Nominee against, and with respect to, any losses that may be incurred by the Nominee in the event he becomes a party to litigation based on his nomination as a candidate for election to the Board and the solicitation of proxies in support of his election. The foregoing summary of the Nominee Agreement is not complete and is qualified in its entirety by reference to the full text of the form of Nominee Agreement, a copy of which is attached as Exhibit 3 and is incorporated by reference herein.

**Item 5. Interest in Securities of the Issuer**

**(a)**
See the Reporting Persons section of this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons.  The percentages used herein are calculated based upon 88,619,647 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.

**(b)**
See the Reporting Persons section of this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.

**(c)**
The transactions in the Common Shares effected by the Reporting Persons within the past sixty days prior to 1/7/26, the date of the event which required filing of this Schedule 13D/A, are set forth in Schedule A and are incorporated herein by reference. Unless otherwise indicated, all trades were effected in the open market.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Not Applicable.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Saba Capital Management, L.P.

**Signature:** /s/ Michael D'Angelo

**Name/Title:** General Counsel

**Date:** 01/08/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Boaz R. Weinstein

**Signature:** /s/ Michael D'Angelo

**Name/Title:** Authorized Signatory

**Date:** 01/08/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Saba Capital Management GP, LLC

**Signature:** /s/ Michael D'Angelo

**Name/Title:** Attorney-in-fact*

**Date:** 01/08/2026