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Ellsworth Growth and Income Fund Ltd. Declares Distribution of $1.01 Per Share

ECF
  • The Board of Trustees of Ellsworth Growth and Income Fund Ltd. declared a $1.01 per share cash distribution payable on December 30, 2026.
  • Common shareholders of record on November 23, 2026, are eligible for the distribution.
  • Non-ADIP shareholders may choose to receive the distribution in cash or beneficial shares, with the option expiring on 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.
  • The Fund intends to pay the greater of a 5% annual distribution on trailing 12-month average prices or the minimum amount required by the Internal Revenue Code.
  • The Board reviews quarterly distribution amounts considering net asset value, financial market conditions, income, capital gains, or available capital.
  • An adjusting distribution may be paid in December to cover excess income or net realized capital gains not distributed quarterly.
  • The distribution policy is subject to modification or termination by the Board, with no guarantee of continuation.
  • Distributions may be taxed as long-term capital gain, qualified dividend income, or a combination, subject to a 20% federal rate plus a potential 3.8% Medicare surcharge for high-income individuals.
  • Distributions exceeding the Fund's earnings are treated as a non-taxable return of capital that reduces the shareholder's cost basis.
  • Estimated tax components are updated quarterly, with final 2026 determinations made after year end via Form 1099-DIV in early 2027.
  • Ellsworth Growth and Income Fund Ltd. is a closed-end management investment company with $201 million in total net assets managed by Gabelli Funds, LLC.
  • The Fund invests primarily in convertible securities and common stock to provide equal long-term objectives of income generation and capital appreciation.
Company
Ellsworth Growth and Income Fund Ltd.
Keywords
NYSE:ECF, Ellsworth Growth and Income Fund Ltd.