Gabelli Dividend & Income Trust Continues Monthly Distributions, Declaring Distributions of $0.11 Per Share

RYE, N.Y.–(BUSINESS WIRE)–The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV)
(the “Fund”) approved the continuation of its policy of paying fixed
monthly cash distributions. The Board of Trustees declared cash
distributions of $0.11 per share for each of July, August, and September
2019.

The distribution for July 2019 will be payable on July 24, 2019 to
common shareholders of record on July 17, 2019.

The distribution for August 2019 will be payable on August 23, 2019 to
common shareholders of record on August 16, 2019.

The distribution for September 2019 will be payable on September 23,
2019 to common shareholders of record on September 16, 2019.

Each quarter, the Board of Trustees reviews the amount of any potential
distribution from the income, realized capital gain, or capital
available. The Board of Trustees will continue to monitor the Fund’s
distribution level, taking into consideration the Fund’s net asset value
and the financial market environment. If necessary, the Fund will pay an
adjusting distribution in December which includes any additional income
and net realized capital gains in excess of the monthly distributions
for that year to satisfy the minimum distribution requirements of the
Internal Revenue Code for regulated investment companies. The Fund’s
distribution policy is subject to modification by the Board of Trustees
at any time, and there can be no guarantee that the policy will
continue. The distribution rate should not be considered the dividend
yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain
or qualified dividend income (or a combination of both) for individuals,
each subject to the maximum federal income tax rate, which is currently
20% in taxable accounts for individuals (or less depending on an
individual’s tax bracket). In addition, certain U.S. shareholders who
are individuals, estates or trusts and whose income exceeds certain
thresholds will be required to pay a 3.8% Medicare surcharge on their
“net investment income”, which includes dividends received from the Fund
and capital gains from the sale or other disposition of shares of the
Fund.

If the Fund does not generate sufficient earnings (dividends and
interest income, less expenses, and realized net capital gain) equal to
or in excess of the aggregate distributions paid by the Fund in a given
year, then the amount distributed in excess of the Fund’s earnings would
be deemed a return of capital. Since this would be considered a return
of a portion of a shareholder’s original investment, it is generally not
taxable and would be treated as a reduction in the shareholder’s cost
basis.

Long-term capital gains, qualified dividend income, ordinary income, and
return of capital, if any, will be allocated on a pro-rata basis to all
distributions to common shareholders for the year. Based on the
accounting records of the Fund currently available, each of the
distributions paid to common shareholders in 2019 would include
approximately 24% from net investment income, 53% from net capital gains
and 23% would be deemed a return of capital on a book basis. This does
not represent information for tax reporting purposes. The estimated
components of each distribution are updated and provided to shareholders
of record in a notice accompanying the distribution and are available on
our website (www.gabelli.com).
The final determination of the sources of all distributions in 2019 will
be made after year end and can vary from the monthly estimates.
Shareholders should not draw any conclusions about the Fund’s investment
performance from the amount of the current distribution. All individual
shareholders with taxable accounts will receive written notification
regarding the components and tax treatment for all 2019 distributions in
early 2020 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks,
charges, and expenses of the Fund before investing. More
information regarding the Fund’s distribution policy and other
information about the Fund is available by calling 800-GABELLI
(800-422-3554) or visiting www.gabelli.com.

The Gabelli Dividend & Income Trust is a diversified, closed-end
management investment company with $2.4 billion in total net assets
whose primary investment objective is to provide a high level of total
return with an emphasis on dividends and income. The Fund is managed by
Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

Contacts

For information:
Carter Austin
Laurissa Martire
(914)
921-5070