The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) approved the continuation of
monthly distributions of $0.10 per share for April and May 2007. The Board authorized an increase in
the cash distribution from $0.10 per share to $0.11 per share for June 2007.
Under the Gabelli Dividend & Income Trust's distribution policy, the Fund pays a minimum annual
distribution of 6% of the initial public offering price of $20.00 per share. Pursuant to this policy,
the Fund pays $0.10 per share in the first eleven months of the year with an adjusting distribution
in December which includes, if necessary, any additional income and net realized capital gains in
excess of the monthly distributions for that year to satisfy the minimum distribution requirements of
the Internal Revenue Code. Each quarter, the Board of Trustees reviews the amount of any potential
distribution and the income, capital gains, or capital available. The Fund's distribution policy is
subject to modification by the Board of Trustees at any time.
The distribution for April 2007 will be payable on April 24, 2007 to shareholders of record on
April 16, 2007.
The distribution for May 2007 will be payable on May 24, 2007 to shareholders of record on May 16, 2007.
The distribution for June 2007 will be payable on June 25, 2007 to shareholders of record on June 15, 2007.
A portion of the distribution may be treated as long-term capital gain and qualified dividend income for
individuals, each subject to the maximum Federal income tax rate, which is currently 15% in taxable
accounts for individuals. If the Fund does not generate earnings from dividends, interest, and net
realized capital gains equal to or in excess of the aggregate distributions paid by the Fund for the
year, then the amount distributed in excess of the Fund's investment income and net realized capital
gains will be deemed a non-taxable return of capital.
Long-term capital gains, qualified dividend income, ordinary income, and paid-in capital, if any, will
be allocated on a pro-rata basis to all distributions to common shareholders for the year. As of
February 26, 2007, the date of this press release, each of the distributions paid in 2007 would include
approximately 19% from net investment income and 81% from net capital gains. The estimated components
of each distribution are provided to shareholders of record in a notice accompanying the distribution
and are available on our website (www.gabelli.com). The final determination of the sources of all
distributions in 2007 will be made after year-end, and can vary from the quarterly estimates. All
shareholders with taxable accounts will receive written notification regarding the components and tax
treatment for all 2007 distributions in early 2008 via Form 1099-DIV.
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.