 The Board of Trustees of Bancroft Fund Ltd. NYSE American:BCV the Fund declared a 0.97 per share cash distribution payable on December 27, 2019 to shareholders of record on November 26, 2019. Shareholders who are not members of the Funds Automatic Dividend Investment Plan will be given the option to receive the distribution either in cash or in beneficial shares of the Fund. The number of shares that holders will be entitled to receive under the share option will be determined on December 17, 2019, either on the basis of the closing market price of the Funds beneficial shares or its net asset value, whichever is lower on that date. 