Bancroft Fund Ltd. Declares Year-End Distribution of Investment Income and Annual Meeting Date
MORRISTOWN, NJ, Nov 19, 2012 (MARKETWIRE via COMTEX) --
Bancroft Fund Ltd. (NYSE MKT: BCV) declared its one hundred
sixty-eighth quarterly dividend today.
The $0.195 per share dividend is payable from net investment income
on December 28, 2012 to shareholders of record November 30, 2012.
Shareholders who are not members of the Fund's Automatic Dividend
Investment Plan will be given the option to receive the distribution
either in cash or in beneficial shares of the Trust. Because of this
option, the dividend is taxable to all shareholders whether or not
they choose to receive cash.
The expiration date of the option is December 14, 2012.
The number of shares that holders will be entitled to receive under
the option will be determined on December 20, 2012, either on the
basis of the closing market price of the Fund's beneficial shares, or
its net asset value, whichever is lower on that date.
SHAREHOLDERS MEETING DATE: The trustees also set February 22, 2013 as
the date of the annual shareholders meeting, with a record date of
December 24, 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.
[ Back To TMCnet.com's Homepage ]