Gabelli Dividend & Income Trust Continues Monthly Distributions, Declaring Distributions of $0.10 Per Share, a 25% Increase from

  Gabelli Dividend & Income Trust Continues Monthly Distributions, Declaring
  Distributions of $0.10 Per Share, a 25% Increase from $0.08 Per Share
  Declared in the Comparable Prior Year Period

Business Wire

RYE, N.Y. -- February 27, 2014

The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) (the
“Fund”) approved the continuation of its policy of paying fixed monthly cash
distributions. The Board of Trustees declared cash distributions of $0.10 per
share for each of April, May, and June 2014.

The distribution for April 2014 will be payable on April 23, 2014 to common
shareholders of record on April 15, 2014.

The distribution for May 2014 will be payable on May 22, 2014 to common
shareholders of record on May 15, 2014.

The distribution for June 2014 will be payable on June 23, 2014 to common
shareholders of record on June 16, 2014.

Each quarter, the Board of Trustees reviews the amount of any potential
distribution from the income, realized capital gain, or capital available. The
Board of Trustees will continue to monitor the Fund’s distribution level,
taking into consideration the Fund’s net asset value and the financial market
environment. If necessary, the Fund will pay an adjusting distribution in
December which includes any additional income and net realized capital gains
in excess of the monthly distributions for that year to satisfy the minimum
distribution requirements of the Internal Revenue Code for regulated
investment companies. The Fund’s distribution policy is subject to
modification by the Board of Trustees at any time, and there can be no
guarantee that the policy will continue. The distribution rate should not be
considered the dividend yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain or
qualified dividend income (or a combination of both) for individuals, each
subject to the maximum federal income tax rate, which is currently 20% in
taxable accounts for individuals. In addition, certain U.S. shareholders who
are individuals, estates or trusts and whose income exceeds certain thresholds
will be required to pay a 3.8% Medicare tax on their "net investment income",
which includes dividends received from the Fund and capital gains from the
sale or other disposition of shares of the Fund.

If the Fund does not generate sufficient earnings (dividends and interest
income and realized net capital gain) equal to or in excess of the aggregate
distributions paid by the Fund in a given year, then the amount distributed in
excess of the Fund’s earnings would be deemed a return of capital. Since this
would be considered a return of a portion of a shareholder’s original
investment, it is generally not taxable and is treated as a reduction in the
shareholder’s cost basis. Under federal tax regulations, some or all of the
return of capital distributed by the Fund may be taxable as ordinary income in
certain circumstances. This may occur when the Fund has a capital loss carry
forward, net capital gains are realized in a fiscal year, and distributions
are made in excess of investment company taxable income.

Long-term capital gains, qualified dividend income, ordinary income, and
return of capital, if any, will be allocated on a pro-rata basis to all
distributions to common shareholders for the year. Based on the accounting
records of the Fund as of February 14, 2014, each of the distributions paid to
common shareholders in 2014 would include approximately 5% from net investment
income and 95% from net capital gains on a book basis. The estimated
components of each distribution are updated and provided to shareholders of
record in a notice accompanying the distribution and are available on our
website (www.gabelli.com). The final determination of the sources of all
distributions in 2014 will be made after year end and can vary from the
monthly estimates. All shareholders with taxable accounts will receive written
notification regarding the components and tax treatment for all 2014
distributions in early 2015 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges,
and expenses of the Fund before investing. More information regarding the
Fund’s distribution policy and other information about the Fund is available
by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com.

The Gabelli Dividend & Income Trust is a diversified, closed-end management
investment company with $2.4 billion in total net 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.

Contact:

For The Gabelli Dividend & Income Trust
Carter Austin or Laurissa Martire
(914) 921-5070
 
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