Elizabeth C. Bogan, a director at Gabelli Dividend & Income Trust (NYSE: GDV), reported a personal purchase of the trust's common stock on January 27, 2026, according to a Form 4 filed with the Securities and Exchange Commission. The filing shows Ms. Bogan acquired 400 shares at $28.7299 per share, for a transaction total of $11,491. Following the transaction, she directly holds 400 shares of GDV common stock.
The same SEC filing disclosed an amendment to the trust's Statement of Preferences for its Series M Cumulative Term Preferred Shares. That amendment authorizes an additional 10 million Series M Preferred Shares, increasing the ceiling for Series M issuance to 30 million shares in total. The filing notes that as of December 11, 2025, there were 16,850,000 Series M Preferred Shares issued and outstanding, leaving 13,150,000 shares available under the updated authorization.
In addition to the change in preferred share authorization, the trust indicated it will employ a white proxy card for its 2026 annual meeting of shareholders. The regulatory filing submitted to the SEC did not include further specifics on the meeting's agenda or its timing. The disclosure provides the factual elements that the trust has adjusted its capital structure authorizations and has selected a proxy mechanism for shareholder engagement, while timing and agenda items remain unspecified in the document.
The Form 4 reporting the insider purchase and the related disclosure on Series M Preferred Shares and the proxy card were the primary items included in the recent regulatory disclosure. The filing documents both the director-level purchase and corporate actions related to preferred-share authorization and shareholder meeting mechanics, without expanding on future operational or strategic plans.
Background on the filings
- The Director purchase: 400 shares purchased on January 27, 2026, at $28.7299 per share, totaling $11,491; post-transaction direct ownership is 400 shares.
- Preferred-share amendment: an additional 10 million Series M Preferred Shares authorized, allowing issuance up to 30 million; as of December 11, 2025, 16,850,000 Series M shares were outstanding and 13,150,000 remain available.
- Annual meeting mechanics: the trust plans to use a white proxy card for the 2026 meeting; the filing did not disclose agenda items or timing.