BCV - Bancroft Fund Ltd. Declares Distribution of $0.32 per Share | Benzinga
RYE, N.Y., Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of Bancroft Fund Ltd. (NYSE:BCV) (the "Fund") declared a $0.32 per share cash distribution payable on March 21, 2024 to common shareholders of record on March 14, 2024.
The Fund intends to pay the greater of either an annual distribution of 5% of the Fund's trailing 12-month average month-end market price or an amount that meets the minimum distribution requirement of the Internal Revenue Code for regulated investment companies.
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 current financial market environment. If necessary, the Fund pays an adjusting distribution in December, which includes any additional income and net realized capital gains in excess of the quarterly distributions. The Fund's distribution policy is subject to modification or termination 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 ...