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Bancroft Fund Ltd. has declared a $0.35 per share cash distribution payable on December 30, 2025. Shareholders will receive the distribution either in cash or beneficial shares of the Fund. The Fund's distribution policy aims to pay 5% of its trailing 12-month average month-end market price or meet the minimum distribution requirement of the Internal Revenue Code. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

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