Internal Revenue Code section 355

Ares Dynamic Credit Allocation Fund Declares a Monthly Distribution of $0.1175 Per Share

Retrieved on: 
Tuesday, October 10, 2023
Banking, Professional Services, Finance, Internal Revenue Code, Investment Company Act of 1940, NYSE, Fund, Internal Revenue Code section 355, Calendar, ARDC, Life insurance, Cryptocurrency

Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced today the declaration of its distribution for the month of October 2023 of $0.1175 per common share, payable as noted below.

Key Points: 
  • Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced today the declaration of its distribution for the month of October 2023 of $0.1175 per common share, payable as noted below.
  • Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured.
  • The distribution rate should not be considered the yield or total return on an investment in the Fund.
  • This press release is not intended to, and does not constitute, an offer to purchase or sell shares of ARDC.

Ares Dynamic Credit Allocation Fund Declares a Monthly Distribution of $0.1175 Per Share

Retrieved on: 
Monday, September 11, 2023
Finance, Banking, Professional Services, Other Professional Services, Asset Management, Calendar, Investment Company Act of 1940, Internal Revenue Code, ARDC, Fund, NYSE, Internal Revenue Code section 355, Life insurance, Cryptocurrency

Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced today that it has increased its monthly distribution for September 2023 to $0.1175 per common share from $0.1125 in August 2023, payable as noted below.

Key Points: 
  • Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE: ARDC) announced today that it has increased its monthly distribution for September 2023 to $0.1175 per common share from $0.1125 in August 2023, payable as noted below.
  • Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured.
  • The distribution rate should not be considered the yield or total return on an investment in the Fund.
  • This press release is not intended to, and does not constitute, an offer to purchase or sell shares of ARDC.

BlackRock Science and Technology Term Trust (BSTZ), BlackRock Health Sciences Term Trust (BMEZ) and BlackRock Innovation and Growth Term Trust (BIGZ) Announce Changes to Distribution Rates Under Managed Distribution Plans

Retrieved on: 
Friday, September 8, 2023
Finance, Consulting, Banking, Professional Services, Other Professional Services, Plan, Calendar, Internal Revenue Code, Trustee, Internal Revenue Code section 355, Fund, NYSE, Life insurance, Cryptocurrency

Each of BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Health Sciences Term Trust (NYSE: BMEZ) and BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) (each a “Fund,” and collectively the “Funds”) has announced changes to its distribution rate under its managed distribution plan (“Plan”).

Key Points: 
  • Each of BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Health Sciences Term Trust (NYSE: BMEZ) and BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) (each a “Fund,” and collectively the “Funds”) has announced changes to its distribution rate under its managed distribution plan (“Plan”).
  • Each Fund has adopted a Plan to support a level distribution of income, capital gains and/or return of capital.
  • For example, the October 2023 distribution will be calculated based on the average net asset value from September 23, 2022 to September 22, 2023.
  • Each month this formula will be applied, and the distribution per share will be re-set and announced on the distribution declaration date.

Bancroft Fund Ltd. Declares Distribution of $0.32 Per Share

Retrieved on: 
Friday, August 25, 2023
Policy, BCV, Record, Sale, Internal Revenue Code, Medicare, Trustee, Capital gain, Internal Revenue Code section 355, Fund, NYSE, Montanile v. Board of Trustees of Nat. Elevator Industry Health Benefit Plan, Life insurance

RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Trustees of Bancroft Fund Ltd. (NYSE American:BCV) (the “Fund”) declared a $0.32 per share cash distribution payable on September 22, 2023 to common shareholders of record on September 15, 2023.

Key Points: 
  • RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Trustees of Bancroft Fund Ltd. (NYSE American:BCV) (the “Fund”) declared a $0.32 per share cash distribution payable on September 22, 2023 to common shareholders of record on September 15, 2023.
  • 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 distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
  • For more information regarding the Fund’s distribution policy and other information about the Fund, call:

Gabelli Global Small and Mid Cap Value Trust Declares Third Quarter Distribution of $0.16 Per Share

Retrieved on: 
Friday, August 25, 2023
Policy, Record, Sale, Internal Revenue Code, Medicare, Trustee, Capital gain, Internal Revenue Code section 355, Fund, NYSE, Life insurance

The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees.

Key Points: 
  • The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees.
  • 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.
  • The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

Ellsworth Growth and Income Fund Ltd. Declares Distribution of $0.13 Per Share

Retrieved on: 
Friday, August 25, 2023
Policy, Record, Sale, Internal Revenue Code, Medicare, Trustee, Capital gain, Internal Revenue Code section 355, ECF, Fund, NYSE, Life insurance

RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE American:ECF) (the “Fund”) declared a $0.13 per share cash distribution payable on September 22, 2023 to common shareholders of record on September 15, 2023.

Key Points: 
  • RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE American:ECF) (the “Fund”) declared a $0.13 per share cash distribution payable on September 22, 2023 to common shareholders of record on September 15, 2023.
  • Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available.
  • 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 distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

Gabelli Healthcare & WellnessRx Trust Declares Third Quarter Distribution of $0.15 Per Share

Retrieved on: 
Friday, August 25, 2023
Policy, Record, Sale, Internal Revenue Code, Medicare, Trustee, Capital gain, Internal Revenue Code section 355, Fund, NYSE, Life insurance

The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees.

Key Points: 
  • The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees.
  • Each quarter, the Board of Trustees reviews the amount of any potential distribution and 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.
  • The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

Gabelli Convertible and Income Securities Fund Declares Third Quarter Distribution of $0.12 Per Share

Retrieved on: 
Friday, August 25, 2023
Policy, Calendar, Record, Sale, Internal Revenue Code, Medicare, Capital gain, Internal Revenue Code section 355, Fund, NYSE, Security (finance), Life insurance

RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) (the “Fund”) declared a $0.12 per share cash distribution payable on September 22, 2023 to common stock shareholders of record on September 15, 2023.

Key Points: 
  • RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) (the “Fund”) declared a $0.12 per share cash distribution payable on September 22, 2023 to common stock shareholders of record on September 15, 2023.
  • Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available.
  • The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
  • For more information regarding the Fund’s distribution policy and other information about the Fund, call:

Gabelli Utility Trust Continues Monthly Distributions, Declares Distributions of $0.05 Per Share

Retrieved on: 
Friday, August 25, 2023
Policy, Medicare, Capital gain, Internal Revenue Code, Record, Fund, Trustee, Internal Revenue Code section 355, Sale, Life insurance

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.

Key Points: 
  • 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.
  • 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.
  • The Gabelli Utility Trust has paid a distribution to shareholders every month since October 1999.

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

Retrieved on: 
Friday, August 25, 2023
Policy, Capital gain, Medicare, Internal Revenue Code, Record, Fund, Trustee, Internal Revenue Code section 355, Sale, Life insurance

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.

Key Points: 
  • 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.
  • The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
  • Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year.
  • The final determination of the sources of all distributions in 2023 will be made after year end and can vary from the monthly estimates.