Bancroft Fund Ltd. Announces Issue Price for the 2012 Year-End Dividend Payable on December 28, 2012
MORRISTOWN, NEW JERSEY, Dec 21, 2012 (MARKETWIRE via COMTEX) --
Bancroft Fund Ltd. (NYSE MKT: BCV) announced today that the price at
which its beneficial shares will be issued to shareholders who
elected to receive additional shares in payment of the 2012 year-end
dividend will be $16.44 per share. The issue price represents the
closing price of the shares on the NYSE MKT Exchange on December 20,
2012, which was below the net asset value of $19.39 per share on that
date. The dividend is payable on December 28, 2012.
Bancroft Fund Ltd. operates as a closed-end, diversified management
Investment Company and invests primarily in convertible securities,
with the objectives of providing income and the potential for capital
appreciation; which objectives the Fund considers to be relatively
equal, over the long-term, due to the nature of the securities in
which it invests. Its shares are traded on the NYSE MKT Exchange
under the ticker symbol BCV.
CUSIP# 059 695 106
For further information please contact:
Gary I. Levine
Chief Financial Officer
Ph. (973) 631-1177
Fax (973) 631-9893
SOURCE: Bancroft Fund Ltd.
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