Boulder Growth & Income Fund, Inc. Declares Monthly Dividend
Boulder Growth & Income Fund, Inc. (NYSE: BIF) announced today that its Board of Directors declared a dividend of $0.033 per common share for each of the months of May, June and July 2016. These dividends are being paid as part of BIF's monthly managed distribution program under which BIF will make per share distributions of $0.033 per month, or approximately $0.40 per year. As of market close on May 4, 2016, the distribution amounts to approximately 4.96% of market price and 3.92% of net asset value ("NAV") on an annualized basis.
Due to the current discount of BIF's market price to its per share NAV, and the fact that distributions are made in cash (i.e., at NAV), the next distribution will be accretive to BIF's market-price-based return. If shares in BIF continue to trade at a discount at the time of future distributions, then these distributions will also be accretive to BIF's market-price-based return.
For the month of May, the dividend will be payable in cash on May 31, 2016 to holders of record on May 23, 2016, and the Fund will trade ex-dividend on May 19, 2016. For the month of June, the dividend will be payable in cash on June 30, 2016 to holders of record on June 23, 2016, and the Fund will trade ex-dividend on June 21, 2016. For the month of July, the dividend will be payable on July 29, 2016 to holders of record on July 22, 2016 and the Fund will trade ex-dividend on July 20, 2016. The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations which may differ from GAAP. As such, all or a portion of these distributions may be reportable as taxable income on your 2016 federal income tax return. The final tax character of any distribution declared in 2016 will be determined in January 2017 and reported to you on IRS Form 1099-DIV.
As previously announced, the Board instituted a monthly managed distribution program in accordance with its Section 19(b) exemptive order in November 2015. In adopting the program, the Fund seeks to provide a regular monthly distribution to its common stockholders which is not dependent on the amount of income earned or capital gains realized by the Fund.
For more information on the Fund, please visit us on the web at www.boulderfunds.net.
Fund Administrative Services, LLC
Brandon Krinhop, 303-449-0426