Monitor the May 11, 2026 shareholder vote outcome — a win for Saba could signal further activist pressure on the Board and potential strategic changes, while a Board victory maintains the status quo. The Glass Lewis endorsement strengthens the Board's position but does not guarantee a win; watch for ISS recommendation and final vote tally.
Price Chart
Executive Summary
Gabelli Dividend & Income Trust filed additional definitive proxy soliciting materials announcing that Glass Lewis, a leading independent proxy advisory firm, recommends shareholders vote FOR all of the Board's nominees on the WHITE proxy card and DO NOT VOTE on Saba Capital Management's gold proxy card at the upcoming annual meeting on May 11, 2026. Glass Lewis rejected Saba's nominee, citing insufficient case for change, lack of relevant board experience, and favorable fund performance versus peers. This filing is part of an ongoing proxy contest with Saba Capital Management, which has nominated a single trustee candidate.
Key Financial Metrics
Key Facts
- Glass Lewis recommends voting FOR all Board nominees on the WHITE proxy card and DO NOT VOTE on Saba's gold proxy card.
- Annual Meeting scheduled for Monday, May 11, 2026.
- Glass Lewis noted Saba 'has not established a sufficient case that change is warranted' and that the Fund's TSRs compare favorably to peers.
- The Fund has $3.3 billion in total net assets.
- Saba Capital Management is a dissident shareholder seeking to elect one trustee (Mr. Clemot) to the Board.
- The Board's nominees are Frank J. Fahrenkopf Jr., Vice Admiral Colin J. Kilrain (Ret.), Salvatore J. Zizza, and Anthony S. Colavita.
Financial Impact
No direct financial impact disclosed; proxy advisory recommendation may influence shareholder vote outcome.
Risk Factors
- Saba Capital Management may continue to agitate for board change or other strategic actions if its nominee is not elected.
- A narrow vote could lead to further proxy contests or shareholder litigation.
- The fund's discount to NAV and total shareholder return remain key metrics for investor sentiment.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001829126-26-004287 |
| Document: 0001829126-26-004287-index-headers.html | 0001829126-26-004287 |
| Document: 0001829126-26-004287-index.html | 0001829126-26-004287 |
| Document: 0001829126-26-004287.txt | 0001829126-26-004287 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 26, 2026 17w ago | DEFA14A | $29.20 $29.73 | ▲ +1.82% | ▲ +2.09% | $28.51 (−2.36%) |
Jun 15, 2026 19w ago | DEFA14A | $29.30 $29.90 | ▲ +2.05% | ▲ +1.85% | $28.51 (−2.70%) |
Jun 8, 2026 20w ago | DEFA14A | $17.58 $17.43 | ▼ −0.85% | ▼ −2.24% | $28.51 (+62.17%) |
Jun 5, 2026 20w ago | DEFA14A | $17.63 $17.49 | ▼ −0.79% | ▼ −2.20% | $28.51 (+61.71%) |
May 29, 2026 21w ago | DEFA14A | $17.63 $17.40 | ▼ −1.30% | ▼ −0.01% | $28.51 (+61.71%) |
May 27, 2026 21w ago | DEFA14A | $17.68 $17.56 | ▼ −0.65% | ▲ +2.49% | $28.51 (+61.30%) |
May 26, 2026 21w ago | DEFA14A | $17.65 $17.46 | ▼ −1.08% | ▲ +0.82% | $28.51 (+61.53%) |
May 22, 2026 22w ago | DEFA14A | $17.65 $17.56 | ▼ −0.51% | ▲ +1.44% | $28.51 (+61.53%) |
May 13, 2026 23w ago | Press Release | $29.05 $28.84 | ▼ −0.72% | ▼ −0.11% | $28.51 (−1.86%) |
May 7, 2026 24w ago | 8-K | $17.99 $17.55 | ▼ −2.45% | ▼ −2.47% | $28.51 (+58.48%) |
US Market Status
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