 On July 31, 2020, Boulder Growth Income Fund, Inc. NYSE: BIF the Fund, a closed-end investment company, will pay a distribution on its common stock of 0.102 per share to stockholders of record at the close of business on July 23, 2020. The Fund, acting in accordance with an exemptive order received from the Securities and Exchange Commission and with approval of its Board of Directors, adopted a managed distribution policy under which the Fund may utilize capital gains, where applicable, as part of regular quarterly cash distributions to its stockholders. This policy gives the Fund greater flexibility to realize capital gains and to distribute those gains to stockholders. 