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Bancroft Fund Ltd | 5.375% Series A Cumulative Preferred Shares (BCV.PRA)
Prospectus excerpt: Bancroft Fund Ltd. (the ÙFundˆ) is offering 1,200,000 shares of 5.375% Series A Cumulative Preferred Shares, par value $0.01 per share (the ÙSeries A Preferred Sharesˆ). Investors in Series A Preferred Shares will be entitled to receive, when, as and if declared by, or under authority granted by, the Fund?s Board of Trustees, out of funds legally available therefor, cumulative cash dividends and distributions at the rate of 5.375% per annum of the $25.00 per share liquidation preference on the Series A Preferred Shares. Dividends and distributions on Series A Preferred Shares will be payable quarterly on March 26, June 26, September 26 and December 26 in each year commencing on September 26, 2016. The Series A Preferred Shares will rank on parity with any future preferred shares and senior to our common shares with respect to dividend and distribution rights and rights upon our liquidation. Full Prospectus PDF », Secondary Prospectus PDF », BCV Page »
Series: | A | Alternate symbology: | BCV-A, BCV-PA, BCVprA | Redeemable?: | Yes | Call Date: | 8/9/2021 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 1,200,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $22.55 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-2.45 (-9.80%) | Annualized Dividend: | 1.343752 | Recent Ex-Date: | 3/18/2024 | Current Yield: | 5.96% | Original Coupon: | 5.375% | Pay Period: | Quarterly | Pay Dates: | 26-Mar, 26-Jun, 26-Sep, 26-Dec | CDx3 Compliance Rating: |
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Bancroft Fund is a diversified, closed-end management investment company seeking income and capital appreciation for shareholders through investments primarily in convertible securities. As of Oct 31 2017, the Fund's total investment portfolio was $156,643,162 and its assets totaled $157,621,672. Preferred: BCV.PRA Open the BCV Information Page »
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