Dividend And Income Fund Announces Quarterly Distributions For Each Quarter Of 2023

ROCHESTER, NY / ACCESSWIRE / December 8, 2022 / Dividend and Income Fund (Stock Symbol:DNIF)(Net Asset Value Symbol:XDNIX) (the "Fund"), a closed end fund with the primary investment objective of seeking high current income with capital appreciation as a secondary objective, announced today that it anticipates that its quarterly distribution amount will remain at $0.25 per share for each quarter of 2023.

The following dates apply to the 2023 quarterly distributions:

	Ex-Dividend Date	Record Date	Payable Date
Q1	March 14, 2023	March 15, 2023	March 27, 2023
Q2	June 14, 20233	June 15, 2023	June 28, 2023
Q3	September 15, 2023	September 18, 2023	September 28, 2023
Q4	December 14, 2023	December 15, 2023	December 28 2023

Shareholders should not draw any conclusions about the Fund's investment performance from the amount of its distributions or from the terms of the Fund's distribution policy.

Distributions may be paid from net investment income, net realized capital gains, or return of capital, or a combination thereof. To the extent that the Fund has estimated that it has distributed more than such income and gains, the distribution may be a return of capital. A return of capital may occur, for example, when money invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income." Additionally, a return of capital is not taxable; rather it reduces the tax basis of the shareholder's Fund shares, thereby increasing the potential gain or reducing potential loss on the shareholder's subsequent sale of those shares.