Stock Name: BIF
Company Name: Boulder Growth & Income Fund Inc
Date: August 10, 2017

BOULDER, Colo.--(BUSINESS WIRE)--Boulder Growth & Income Fund, Inc. (NYSE:BIF) announced today that its Board of Directors declared a dividend of $0.034 per common share for each of the months of August, September and October 2017. These dividends are being paid as part of BIF's monthly managed distribution program under which BIF will make per share distributions of $0.034 per month, or approximately $0.408 per year. As of market close on August 9, 2017, the distribution amounts to approximately 4.1% of market price and 3.4% of net asset value ("NAV") on an annualized basis.

Due to the current discount of BIF's market price to its per share NAV, and the fact that distributions are made in cash (i.e., at NAV), the next distribution will be accretive to BIF's market-price-based return. If shares in BIF continue to trade at a discount at the time of future distributions, then these distributions will also be accretive to BIF's market-price-based return.

For the months of August, September and October the dividend will be payable in cash to stockholders of record per the following critical dates:

Pay Date Record Date Ex-Dividend Date Amount Per Share
August 31, 2017 August 24, 2017 August 22, 2017 $0.034
September 29, 2017 September 22, 2017 September 21, 2017 $0.034
October 31, 2017 October 24, 2017 October 23, 2017 $0.034

The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations which may differ from GAAP. As such, all or a portion of these distributions may be reportable as taxable income on your 2017 federal income tax returns. The final tax character of any distribution declared in 2017 will be determined in January 2018 and reported to you on IRS Form 1099-DIV.

As previously announced, the Board instituted a monthly managed distribution program in accordance with its Section 19(b) exemptive order in November 2015. In adopting the program, the Fund seeks to provide a regular monthly distribution to its common stockholders which is not dependent on the amount of income earned or capital gains realized by the Fund.

For more information on the Fund, please visit us on the web at www.boulderfunds.net.

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