Bancroft Fund announces distribution of USD0.25 per share.
M2 EQUITYBITES-February 24, 2017-Bancroft Fund announces distribution of USD0.25 per share
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Bancroft Fund Ltd (NYSE MKT:BCV) declared on Friday that its board of trustees reaffirmed a 5% distribution policy and approved a common stock cash distribution of USD0.25 per share.
The distribution will be paid on 24 March 2017 to shareholders of record date as on 17 March 2017.
A diversified management investment company, Bancroft Fund mainly invests in convertible securities and aims at providing income and the potential for capital appreciation. It has USD155m in total net assets.
Bancroft Fund is managed by Gabelli Funds LLC, a subsidiary of GAMCO Investors Inc (NYSE:GBL).
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