BOULDER, Colo.--(BUSINESS WIRE)--Boulder Growth & Income Fund, Inc. (NYSE:BIF) (the “Fund”) announced today that its board of directors (the “Board”) reaffirmed the Fund’s stock repurchase program. Under the program, the Fund’s co-adviser, Rocky Mountain Advisers, LLC (the “Adviser”), has the authority (but not the obligation) to repurchase the Fund’s common stock in the open market when shares are trading at a discount to net asset value. The Adviser is authorized to use its discretion in repurchasing shares when market conditions warrant. The timing, manner, price, and amount of any share repurchases will be determined by the Adviser in its discretion, based on the foregoing as well as applicable legal and regulatory requirements and other factors, including the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended. Although the Adviser has had the authority to make repurchases in the past, no such repurchases have been made as of the date of this release. However, given the current discount of the Fund’s shares to net asset value, the Adviser expects to be active in effecting repurchases while the current market conditions persist. No assurances can be given that any common stock, or any particular amount, will be purchased. The program may be suspended, extended, modified, or discontinued at any time.
Boulder Growth & Income Fund, Inc. is a closed-end, non-diversified management investment company traded on the New York Stock Exchange under the trading symbol "BIF." As of August 8, 2017, the Fund’s net asset value was $11.88 per share and the closing market price was $9.93, which was a -16.41% discount to net asset value.
For more information on the Fund, please visit us on the web at www.boulderfunds.net.