Corrected: Bancroft Fund Ltd. NAV Performance up 33% and Market Return up 50% Raises Annual Distribution 16% to $1.16 Per Share From $1.00 Per Share

RYE, N.Y.--(BUSINESS WIRE)--The Board of Trustees of Bancroft Fund Ltd. (NYSE American: BCV) (the “Fund”) declared a $0.29 per share cash distribution payable on March 24, 2020 to common shareholders of record on March 17, 2020. The $0.29 first quarter 2020 distribution is a 16% increase from $0.25 in the same period last year and brings the 2020 minimum annual distribution to $1.16 per share. The increase follows on the strength of the Fund’s market return in 2019, which increased 50%.