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Bancroft Convertible Fund, Inc.
cusip # 05-9695106

released January 3, 2005

DIVIDEND AND TAX INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 2004
Record
Date
2004		 Payment
Date
2004


Total Paid
Per Share

Ordinary
Income
Dividends

   Qualified
Dividends
(QDI)

Long-Term
Capital Gain

Dividend
Reinvestment
         Price
Mar. 16 Mar. 30 $0.170 $0.170   $0.012868

$

—

 $19.4627
Jun. 15 Jun. 29 0.170 0.170   0.022412

—

 18.5277
Sep. 15 Sep. 29 0.170 0.170   0.023464

—

 18.7186
Dec. 3 Dec. 28       0.188       0.188   0.025066

—

 18.6000
0.698 0.698   0.083810

—
The portion of each ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 12%.

None of the dividends paid during the year represented a return of capital.

There were no year-end reallocations or reclassifications of income or gains.

The amount of interest earned on direct obligations of the U.S. Government was negligible.

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