SOURCE: Bancroft Fund Ltd.

February 22, 2013 14:13 ET

Bancroft Fund Ltd. Declares First Quarter Dividend and Announces Results of Annual Shareholders' Meeting

MORRISTOWN, NJ--(Marketwire - Feb 22, 2013) -  The Board of Trustees of Bancroft Fund Ltd. (NYSE MKT: BCV) today declared the Fund's one hundred sixty-ninth quarterly dividend.

The 12 cents ($0.12) per share dividend is payable from net investment income on March 27, 2013 to shareholders of record March 13, 2013.

The following actions were taken at the Annual Shareholders' meeting held on Friday, February 22nd: (1) two trustees were elected and (2) the selection of Tait, Weller & Baker LLP as independent registered public accountants for the 2013 fiscal year was ratified.

Bancroft Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests. Its shares are traded on the NYSE MKT Exchange under the ticker symbol BCV.

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