The Board of Trustees (the "Board") of Clough Global Dividend and Income Fund (the “Fund”) has voted to change the monthly distribution rate of the Fund from $0.120 per common share to $0.1032 per common share and declare the monthly cash distribution of $0.1032 per common share, payable on the dates noted below. The Fund has approximately $281 million in total assets, the net asset value was $14.36 per share and the market price was $11.99 as of August 4, 2016.

The following dates apply to the distributions declared:

Ex-Date: August 17, 2016
Record Date: August 19, 2016
Payable Date: August 31, 2016

Ex-Date: September 14, 2016
Record Date: September 16, 2016
Payable Date: September 30, 2016

Ex-Date: October 17, 2016
Record Date: October 19, 2016
Payable Date: October 31, 2016

A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions, including the percentage of qualified dividend income, will be made after year-end.

Chuck Clough, a portfolio manager for the Fund and the founder of Clough Capital Partners L.P., the Fund’s adviser (“Clough Capital”), notes that “the Fund’s decision to reduce the dividend is intended to better align the Fund’s distribution rates with current market dynamics, which present a low return, low interest rate environment. Consistent with the Fund’s investment policies, we continue to seek investments across the globe that generally offer both an attractive dividend yield and capital appreciation potential. Management has also made a concerted effort and continues to take significant steps toward lowering the total expense ratio of the Fund.”

The Clough Global Dividend and Income Fund

The Fund is a closed-end fund with an investment objective of providing a high level of total return. With analysts in Boston and Hong Kong, the Clough Global Dividend and Income Fund seeks to pursue this objective by applying a fundamental research-driven investment process and will invest in equity and equity-related securities as well as fixed income securities, including both corporate and sovereign debt, in both U.S. and non-U.S. markets. More information on the Clough Global Dividend and Income Fund, including the Fund’s dividend reinvestment plan, can be found at www.cloughglobal.com or call 877-256-8445.

Clough Capital Partners L.P.

Clough is a Boston-based investment advisory firm which manages approximately $3.4 billion in assets: $1.3 billion in hedge fund and institutional accounts; $101 million in open-end mutual funds; and $2.0 billion in three closed-end funds (as of June 30, 2016) – Clough Global Dividend and Income (GLV), Clough Global Equity (GLQ), and the Clough Global Opportunities Fund (GLO). The firm uses a global and theme-based approach and invests in securities on a global basis. Clough was founded in 2000 by Chuck Clough and partners James Canty and Eric Brock. These three are the portfolio managers for the Clough Global Dividend and Income Fund, as well as Robert Zdunczyk.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, annual report or semi-annual report which contains this and other information visit www.cloughglobal.com or call 877-256-8445. Read them carefully before investing.

The Clough Global Dividend and Income Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.

Forward-looking statements are based on information that is available on the date hereof, and neither the fund manager nor any other person affiliated with the fund manager has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.