GABELLI DIVIDEND & INCOME TRUST Business Summary

The Gabelli Dividend & Income Trust (GDV) is a diversified, closed-end management investment company that generates investment income through a portfolio optimized for total return, emphasizing dividends and capital appreciation. Its business model is centered on a value-oriented investment strategy, mandating that at least 80% of its approximately $3.4 billion in total net assets be allocated to income-producing securities, with at least 50% specifically in dividend-paying equities. The trust's primary revenue streams are derived from dividend income, interest, and realized capital gains, which fund a monthly distribution to shareholders that was increased to $0.15 per share ($1.80 annualized) starting in January 2026. GDV operates within the competitive closed-end fund (CEF) landscape, primarily rivaling the BlackRock Enhanced Equity Dividend Trust (BDJ), Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETB), and Liberty All-Star Equity Fund (USA), positioning itself as a high-yield, research-driven vehicle that frequently trades at a discount to its net asset value (NAV). The trust is led by founder Mario J. Gabelli, who serves as Chairman and Chief Investment Officer and is the architect of the firm’s proprietary Graham & Dodd-based research methodology. The current executive leadership team includes John C. Ball, who serves as President, Treasurer, and Principal Financial Officer, and Peter Goldstein as Secretary and Vice President. Governance is provided by a Board of Trustees that was recently expanded in February 2026 with the appointment of Vice Admiral Colin J. Kilrain (Ret.), a former Navy SEAL commander, to enhance strategic oversight. Other prominent board members include Lead Independent Trustee James Conn and long-standing trustees such as Agnes Mullady and Frank Fahrenkopf Jr. The trust maintains a strong alignment of interest with its shareholders, as Mario Gabelli continues to hold significant direct and indirect ownership stakes through GAMCO-affiliated entities including GGCP, Inc. and Associated Capital Group.