RYE, N.Y., May  13, 2026  (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) (the &#34;Fund&#34;) declared a $0.19 per share cash distribution payable on June 23, 2026 to common

Ellsworth Growth and Income Fund Ltd. Declares Distribution of $0.19 Per Share

ECF Announces $0.19 Cash Distribution Amid Solid Gains

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>RYE, N.Y., May  13, 2026  (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) (the &amp;#34;Fund&amp;#34;) declared a $0.19 per share cash distribution payable on June 23, 2026 to common</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Ellsworth Growth and Income Fund Ltd. has declared a $0.19 cash distribution expected on June 23, 2026. This distribution reflects strong capital gains and aims to meet regulations, enhancing income for shareholders in the upcoming fiscal year.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>ECF declares a $0.19 cash distribution payable June 23, 2026.</li><li>Distribution targets 5% of trailing market price or minimum IRS requirement.</li><li>Quarterly reviews determine future distributions based on income and gains.</li><li>Excess distributions may be deemed returns of capital and tax-free.</li><li>95% of 2026 distributions expected from net capital gains, 5% from income.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Gabelli Funds, LLC (GAMI)</strong>: Management firm may influence ECF&#039;s strategic decisions.</li><li><strong>GAMCO Investors, Inc. (GAMI)</strong>: Parent company overseeing ECF&#039;s management and financial health.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>The article falls under &#039;Corporate Developments&#039; due to its focus on distribution announcements and financial strategies. These developments directly affect shareholder returns and market perceptions.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The $0.19 distribution could drive buying interest ahead of its payday.</li><li>Strong historical capital gains component may enhance investor confidence.</li><li>Monitoring of NAV could influence ECF&#039;s distribution viability in future quarters.</li><li>Tax treatment of distributions may impact demand from income-focused investors.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Distribution recorded on June 15, 2026, payable June 23, 2026.</li><li>Annual distribution aims for 5% of trailing 12-month average market price.</li><li>2026 anticipated distributions may comprise 5% from net income, 95% from capital gains.</li><li>Total net assets of ECF currently at $230 million.</li><li>ECF&#039;s fiscal year ends on September 30, 2026.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>ECF could appreciate as distribution signals strong earnings; target price increase by year-end.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">RYE, N.Y., May  13, 2026  (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ECF">ECF</a>) (the "Fund") declared a $0.19 per share cash distribution payable on June 23, 2026 to common shareholders of record on June 15, 2026.</p>  <p align="justify">The Fund intends to pay the greater of either an annual distribution of 5% of the Fund's trailing 12-month average month-end market price or an amount that meets the minimum distribution requirement of the Internal Revenue Code for regulated investment companies.</p>  <p align="justify">Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. If necessary, the Fund pays an adjusting distribution in December, which includes any additional income and net realized capital gains in excess of the quarterly distributions. The Fund's distribution policy is subject to modification or termination by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.</p>  <p align="justify">All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual's tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and with income that exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their &#34;net investment income&#34;, which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.</p>  <p align="justify">If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund's earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder's original investment, it is generally not taxable and would be treated as a reduction in the shareholder's cost basis.</p>  <p align="justify">Long-term capital gains, qualified dividend income, investment company taxable income and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid in 2026 to common shareholders with respect to the Fund's fiscal year ending September 30, 2026 would include approximately 5% from net investment income and 95% from net capital gains on a book basis. This information does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website. The final determination of the sources of all distributions in 2026 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2026 distributions in early 2027 via Form 1099-DIV.</p>  <p align="justify"><em>Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund's distribution policy and other information about the Fund, call:</em></p>  <p align="justify"><em>Bethany Uhlein</em><br></br><em>(914) 921-5546</em></p>  <p align="justify"><strong>About Ellsworth Growth and Income Fund </strong><br></br>Ellsworth Growth and Income Fund Ltd. is a diversified, closed-end management investment company with $230 million in total net assets. ECF invests primarily in convertible securities and common stock with the objectives of providing income and the potential for capital appreciation, objectives the Fund considers to be relatively equal over the long-term due to the nature of the securities in which it invests. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/quote/GAMI">GAMI</a>).</p>  <p align="justify">NYSE American: ECF<br></br>CUSIP – 289074106</p>  <p align="justify">ELLSWORTH GROWTH AND INCOME FUND LTD.<br></br>Investor Relations Contact: <br></br>Bethany Uhlein<br></br>914.921.5546<br></br>buhlein@gabelli.com</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcxOTQ5OCM3NjAxMDQ2IzIyNTkwNTc="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/NWVjNGQ3YWQtYmFlNy00NzdiLTk3NGMtNDZjOWZiNGIxMWY4LTEyNzA2MDctMjAyNi0wNS0xMy1lbg==/tiny/Ellsworth-Growth-and-Income-Fu.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/bd5bf9f6-9b03-47fb-b383-47b4535ba8d4"><img src="https://ml.globenewswire.com/media/bd5bf9f6-9b03-47fb-b383-47b4535ba8d4/small/gabelli-funds-png.png" border="0" width="150" height="40" alt="Primary Logo"></img></a></p>

Ellsworth Growth and Income Fund Ltd. has declared a $0.19 cash distribution expected on June 23, 2026. This distribution reflects strong capital gains and aims to meet regulations, enhancing income for shareholders in the upcoming fiscal year.

Ellsworth Growth and Income Fund Ltd. Declares Distribution of $0.19 Per Share

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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