SOURCE: Bancroft Fund Ltd.

January 11, 2010 13:02 ET

Bancroft Fund Ltd. Announces Dividend and Tax Information for the Year Ended December 31, 2009

MORRISTOWN, NJ--(Marketwire - January 11, 2010) - Bancroft Fund Ltd. (NYSE Amex: BCV) today reported dividend and tax information for the year ended December 31, 2009.

                                              Short-   Long-
Record   Payment Total    Ordinary  Qualified  Term    Term    Dividend
Date     Date    Paid Per Income    Dividends Capital Capital Reinvestment
2009     2009    Share    Dividends  (QDI)     Gain    Gain     Price
-------  ------- -------- --------- --------- ------- ------- ------------

Mar. 12  Mar. 26   $0.170    $0.170 $0.015638     $--     $--     $11.3298
Jun. 11  Jun. 25    0.170     0.170  0.037214      --      --      13.0351
Sep. 10  Sep. 24    0.130     0.130  0.030438      --      --      14.6592
Nov. 27  Dec. 28    0.256     0.256  0.048107      --      --      14.7900
                 -------- --------- --------- ------- -------
                    0.726     0.726  0.131397      --      --

The portion of each ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 18%.

None of the dividends paid during the year represented a return of capital.

There were no year-end reallocations or reclassifications of income or gains.

There was no interest earned on direct obligations of the U.S. Government.

Further financial details are available on the Company's website: www.bancroftfund.com.

NYSE Amex - BCV

Cusip 059695106

Contact Information