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April 11, 2014
08:33 EDTBCVBancroft Fund reports share repurchase program completion
Bancroft Fund announced that the Fund has completed its program to repurchase 3% of its shares of beneficial interest begun on October 31, 2013. Since that date the Fund repurchased in the open market and retired 161,243 of the Fund's shares, at a cost of $3,085,683. The Board of Trustees of the Fund authorized the repurchase program in an effort to address the undervaluation of the Fund's shares.
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November 19, 2015
16:28 EDTBCVBancroft Fund declares year-end distribution of $1.025 per share
Bancroft Fund declared a year-end distribution of $1.025 per share, consisting of: a capital gain distribution of 79.4c per share, representing undistributed net long-term capital gain realized during FY15; and an ordinary income dividend of 23.1c per share, representing undistributed net investment income for FY15. The year-end distribution will be payable on December 29 to shareholders of record on November 30. Shareholders who are not members of the Fund's Automatic Dividend Investment Plan will be given the option to receive the distribution either in cash or in beneficial shares of the Fund. Because of this option, the dividend is taxable to all shareholders whether or not they choose to receive cash. The expiration date of the option is December 18. Shareholders who do not make an election will receive the distribution in beneficial shares. The Board of Trustees authorized the continuation of its minimum distribution policy under which the Fund intends to pay a minimum annual distribution of 5% of the Fund's trailing 12-month average month-end market price or an amount sufficient to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The Board of Trustees also authorized the repurchase of the Fund's shares of beneficial interest when the shares are trading at a discount of 10% or more from net asset value.

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