The Gabelli Dividend & Income Trust (NYSE:GDV) announced today that pursuant to its share repurchase
plan, the Fund repurchased 129,835 common shares in the fourth quarter of 2006 and a total of 340,235
shares for the full year 2006. The Fund has repurchased over one million shares to date.
The Board of Trustees, at a meeting held on May 12, 2004, voted to authorize the repurchase of its
common shares in the open market, from time to time, when the shares are trading at a discount of 7.5%
or more from net asset value. The Fund has repurchased a total of 1,090,035 shares since the inception
of the share repurchase program at an average investment of $18.18 per share and an average discount to
net asset value of 12.45%.
The Gabelli Dividend & Income Trust is a non-diversified, closed-end management investment company with
$2.5 billion in total 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), which is a publicly traded NYSE listed company.