BOULDER, Colo.--(BUSINESS WIRE)--Boulder Growth & Income Fund, Inc. (NYSE: BIF) announced that earlier today its board of directors (the “Board”) declared a dividend of $0.12253 per common share payable in cash on December 31, 2015 to holders of record on December 24, 2015. The Fund will trade ex-dividend on December 22, 2015. In accordance with generally accepted accounting principles (“GAAP”), the dividend will consist of $0.04713 per share of ordinary income and $0.0754 per share of long-term capital gain. 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 this distribution may be reportable as taxable income on your 2015 federal income tax return. The final tax character of any distribution declared in 2015 will be determined in January 2016 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. The dividend amount listed above includes the monthly managed distribution of $0.033 per share otherwise payable on December 31 as well as the required annual distribution of net investment income and net capital gains realized during the Fund’s fiscal year.
For more information on the Fund, please visit us on the web at www.boulderfunds.net.