GlobeNewswire·Nov 11, 2026, 11:37 AM ET

Bancroft Fund Ltd. Declares Distribution of $0.50 Per Share 2026 Annual Distribution Totals $1.61 Per Share

BCV

Bancroft Fund Ltd. declared a $0.50 per share cash distribution payable on December 30, 2026 to shareholders of record on November 23, 2026.
Non-participants in the Automatic Dividend Investment Plan may elect to receive the distribution in cash or beneficial shares with an option expiration date of December 15, 2026.
Shareholders failing to make an election will automatically receive the distribution in beneficial shares.
The number of beneficial shares for the share option will be determined on December 16, 2026, based on the lower of the closing market price or net asset value on that date.
The Fund intends to pay the greater of a 5% annual distribution based on trailing 12-month average month-end prices or the amount required to meet Internal Revenue Code minimum distribution standards for regulated investment companies.
The Board of Trustees reviews distribution amounts quarterly considering net asset value & market conditions, with potential adjusting distributions in December to cover excess income & capital gains.
The distribution policy is subject to modification or termination by the Board of Trustees at any time, with no guarantee of continuation.
Distributions may be treated as long-term capital gain or qualified dividend income subject to a maximum 20% federal rate, potentially plus a 3.8% Medicare surcharge for high-income shareholders.
Amounts distributed in excess of earnings are deemed a return of capital, generally reducing the shareholder's cost basis rather than being taxable.
Final determination of distribution sources for 2026 will occur after year-end, with specific tax components detailed in Form 1099-DIV notices sent to shareholders in early 2027.
Bancroft Fund Ltd. is a diversified closed-end management investment company with $161 million in total net assets, primarily investing in convertible securities managed by Gabelli Funds, LLC.

Company: Bancroft Fund Ltd.
Keywords: NYSE:BCV, Bancroft Fund Ltd.