AP NEWS

Boulder Growth & Income Fund, Inc. Announces Change in Distribution Frequency and Declares Initial 2019 Quarterly Distribution

November 12, 2018

DENVER--(BUSINESS WIRE)--Nov 12, 2018--Boulder Growth & Income Fund, Inc. (NYSE:BIF) (the “Fund”) announced today that its Board of Directors (“Board”) has approved adjusting the frequency of distributions made under the Fund’s managed distribution program from monthly to quarterly, while maintaining the Fund’s current annualized distribution rate of approximately $0.408 per share. Accordingly, the Fund also announced the declaration of the Fund’s initial quarterly distribution for the 2019 fiscal year of $0.102 per share to occur in January 2019 under the revised managed distribution program, as discussed further below.

Beginning in November 2015, the Board instituted a managed distribution program in accordance with its Section 19(b) exemptive order, seeking to provide shareholders with a regular distribution not dependent on the amount of income earned or capital gains realized by the Fund. As part of the Board’s efforts to reduce stockholder expenses, after careful review of the operations and efficiency of the Fund’s managed distribution program, the Board determined that moving the frequency of the distributions from monthly to quarterly might allow the Fund to realize significant cost savings from the reduction in printing, mailing and administrative expenses related to each distribution, while continuing to provide stockholders with the benefits of the Fund’s consistent, regular distributions at the same annualized rate.

The January 2019 quarterly distribution will be payable in cash to stockholders of record per the following critical dates:

Due to the current discount of the Fund’s market price to its per share net asset value (“NAV”), and the fact that distributions are made in cash (i.e., at NAV), if Fund shares continue to trade at a discount at the time of this distribution, then it will be accretive to BIF’s market-price-based return. As of market close on November 8, 2018, the distribution amounts to approximately 3.05% of market price and 3.69% of NAV on an annualized basis.

Investors should not make any conclusions about the Fund’s investment performance from the amount of the Fund’s distributions or the Fund’s distribution policy. With each distribution that does not consist solely of net investment income, the Fund will issue a notice to shareholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to shareholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes.

The Fund

Boulder Growth & Income Fund, Inc. is a non-diversified closed-end investment company traded on the New York Stock Exchange under the trading symbol “BIF”. As of November 8, 2018, the Fund’s NAV was $13.37 per share and the closing market price was $11.07 (a 17.20% discount to NAV). For more information on the Fund, please visit the Fund’s webpage at www.boulderfunds.net.

The Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.

SS&C Technologies

SS&C is a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 13,000 financial services and healthcare organizations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C’s products and services.

ALPS Advisors, Inc.

ALPS, which was acquired by SS&C in April 2018, provides customized asset servicing and asset gathering solutions to the financial services community through an entrepreneurial culture based on the commitment to “Do Things Right.” Founded in 1985, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. Headquartered in Denver, with offices in Boston, New York, Seattle, and Toronto, ALPS, a wholly-owned subsidiary of DST Systems, Inc., today represents more than 400 employees, over 200 clients, and an executive team that has been in place for more than 18 years. For more information about ALPS and its services, visit www.alpsinc.com. Information about ALPS products is available at www.alpsfunds.com.

Rocky Mountain Advisers, LLC

RMA is an investment adviser registered with the SEC based out of Kansas. More information about RMA is available at www.boulderfunds.net as well as the SEC’s investment adviser search website at www.adviserinfo.sec.gov.

ALPS Portfolio Solutions Distributor, Inc., FINRA Member.

NOT FDIC INSURED | May Lose Value | No Bank Guarantee

View source version on businesswire.com:https://www.businesswire.com/news/home/20181112005697/en/

CONTACT: SS&C Technologies

Jen Molgano, +1 617-648-0948

Public Relations

jmolgano@sscinc.com

KEYWORD: UNITED STATES NORTH AMERICA COLORADO

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Boulder Growth & Income Fund, Inc.

Copyright Business Wire 2018.

PUB: 11/12/2018 04:30 PM/DISC: 11/12/2018 04:30 PM

http://www.businesswire.com/news/home/20181112005697/en

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