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4-Traders Homepage  >  Equities  >  Nyse  >  Boulder Growth and Income Fund Inc    BIF

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Boulder Growth and Income Fund : CORRECTING and REPLACING Boulder Growth & Income Fund, Inc. Declares Monthly Dividends

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11/10/2017 | 10:22pm CET

Please replace the release with the following corrected version due to changes to the Ex-Dividend Dates listed.

The corrected release reads:

BOULDER GROWTH & INCOME FUND, INC. DECLARES MONTHLY DIVIDENDS

Boulder Growth & Income Fund, Inc. (NYSE:BIF) announced today that its Board of Directors declared a dividend of $0.034 per common share for each of the months of November 2017, December 2017 and January 2018. These dividends are being paid as part of BIF’s monthly managed distribution program under which BIF will make per share distributions of $0.034 per month, or approximately $0.408 per year. As of market close on November 9, 2017, the distribution amounts to approximately 3.9% of market price and 3.3% 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 months of November, December and January the dividend will be payable in cash to stockholders of record per the following critical dates:

                       
  Pay Date     Record Date     Ex-Dividend Date     Amount Per Share
  November 30, 2017     November 22, 2017    

November 21, 2017

    $0.034
  December 29, 2017     December 21, 2017    

December 20, 2017

    $0.034
  January 31, 2018     January 24, 2018    

January 23, 2018

    $0.034
             

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 2017 or 2018 federal income tax returns. The final tax character of any distribution declared in 2017 will be determined in January 2018 and reported to you on IRS Form 1099-DIV. The final tax character of any distribution declared in 2018 will be determined in January 2019 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.


© Business Wire 2017
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Managers
NameTitle
Stephen Carl Miller President & Director
Joel Walter Looney Chairman
Nicole L. Murphey CFO, Treasurer, CAO, VP & Assistant Secretary
Dean L. Jacobson Independent Director
Richard I. Barr Lead Independent Director