The Gabelli Dividend & Income Trust (NYSE:GDV) announced today that pursuant to its share
repurchase plan, the Fund repurchased 86,600 common shares in the second quarter of 2006.
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 935,200
shares since the inception of the share repurchase program at an average investment of $17.88
per share and an average discount to net asset value of 12.21%.
The Gabelli Dividend & Income Trust is a non-diversified, closed-end management investment
company with $2.4 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.