Glass Lewis backs Gabelli Dividend & Income Trust board nominees

Glass Lewis, an independent proxy advisory firm, recommended shareholders of The Gabelli Dividend & Income Trust (NYSE: GDV) vote for all board nominees on the white proxy card at the fund's annual meeting scheduled for May 11, 2026.

The proxy advisor recommended against voting for the candidate proposed by dissident shareholder Saba Capital Management on its gold proxy card. Glass Lewis stated that Saba "has not established a sufficient case that change is warranted" and noted that Saba's nominee "does not appear to have prior experience serving on the board of a closed-end fund or other public company board."

The advisory firm also cited the fund's recent performance, noting that "the Fund's performance in terms of TSRs [total shareholder returns] in recent periods compares favorably to the performance of similar funds, and the Fund's discount to NAV has been narrowing recently."

The board's nominees include Frank J. Fahrenkopf, Jr., former president and CEO of the American Gaming Association; Vice Admiral Colin J. Kilrain, USN (Ret.); Salvatore J. Zizza, Chairman of Zizza & Associates Corp; and Anthony S. Colavita, the fund's Nominating Committee Chairman.

The Gabelli Dividend & Income Trust is a closed-end management investment company with $3.3 billion in total net assets. The fund's 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. (OTCQX: GAMI).

The information is based on a press release from the fund.

You May Also Be Interested In

• Bitmine announces NYSE listing for preferred stock, declares dividends
• Super League Enterprise (SLE) files for 1.07M share offering by selling stockholders
• Invesco Mortgage Capital declares $0.12 monthly dividend for June 2026