Market Overview

Boulder Growth & Income Fund, Inc. Declares Monthly Dividends

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BOULDER, Colo.--(BUSINESS WIRE)--

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 August, September and October 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 August 3, 2016, the distribution amounts to approximately 4.73% of market price and 3.79% 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 August, the dividend will be payable in cash on August 31, 2016 to holders of record on August 24, 2016, and the Fund will trade ex-dividend on August 22, 2016. For the month of September, the dividend will be payable in cash on September 30, 2016 to holders of record on September 23, 2016, and the Fund will trade ex-dividend on September 21, 2016. For the month of October, the dividend will be payable on October 31, 2016 to holders of record on October 24, 2016, and the Fund will trade ex-dividend on October 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

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