Bancroft Fund Ltd. (BCV) Declares $0.25 Quarterly Dividend; 4.9% Yield

Bancroft Fund Ltd. (NYSE: BCV) declared a quarterly dividend of $0.25 per share, or $1 annualized.

The dividend will be payable on March 26, 2015, to stockholders of record on March 12, 2015, with an ex-dividend date of March 10, 2015.

The annual yield on the dividend is 4.9 percent.

For a dividend history and other dividend-related data on Bancroft Fund Ltd. (BCV) click here.

Based on our current estimates, the Fund anticipates that approximately $0.198 per share of the dividend will be paid from accumulated net investment income, and approximately $0.052 per share will represent a return of capital. These estimates and the sources of the Fund's dividends and distributions are determined at the time of declaration. However dividends and distributions are subject to re-characterization for tax purposes after the end of the fiscal year. A non-taxable return of capital, if any, cannot be determined until after the end of the Fund's fiscal year. Shareholders with taxable accounts will receive written notification regarding the components and tax treatment of distributions via Form 1099-DIV.

As previously reported, the Fund has adopted a minimum distribution policy pursuant to which it will distribute to its shareholders each fiscal year (ending October 31) an aggregate amount of money which equals or exceeds 5% of the Fund's trailing 12-month average month-end market price. Such distributions will be made from undistributed investment income or realized capital gains, but may also include the return of capital. The minimum distribution policy will be subject to regular review by the Board of Trustees and may be terminated prospectively at any time.

The trailing 12-month average month-end market price is currently $19.97. If such average were to remain at such amount throughout the remainder of fiscal year 2015 (which, of course, cannot be assured), then the Fund would distribute to shareholders not less than $1.00 per share during 2015 pursuant to the minimum distribution policy.

The following actions were taken at the Annual Shareholders' meeting held on Monday, February 9th: (1) two trustees were elected and (2) the selection of Tait, Weller & Baker LLP as independent registered public accountants for the 2015 fiscal year was ratified.

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