The Gabelli Dividend & Income Trust increases its annual distribution to $1.68 per share starting January 2025.
Quiver AI Summary
The Gabelli Dividend & Income Trust (NYSE: GDV) has announced that, in response to its strong portfolio performance and $1.4 billion in unrealized gains, the Board of Trustees will raise the annual distribution to $1.68 per share, payable at $0.14 per share monthly starting in January 2025. The monthly distributions will follow a set schedule, with record and payable dates outlined for January, February, and March. It is noted that the distribution policy may change at the Board's discretion and investors should assess the Fund's objectives, risks, and expenses before investing. The Gabelli Dividend & Income Trust is a diversified investment company focused on delivering high total returns through dividends and income.
Potential Positives
- The Gabelli Dividend & Income Trust has announced an increase in its annual distribution to $1.68 per share, reflecting strong portfolio performance.
- The Fund’s portfolio shows $1.4 billion in unrealized gains, indicating effective management and investment strategies.
- The announcement of monthly distributions ($0.14 per share) enhances the attractiveness for current and potential investors seeking regular income.
- This distribution increase can positively impact investor confidence and potentially attract new investors to the Fund.
Potential Negatives
- The announcement of increased distributions may imply previous concerns regarding the Fund's ability to maintain its distribution policy, potentially leading to investor skepticism.
- The disclosure that the Fund's distribution policy is subject to modification at any time introduces uncertainty for investors about future income stability.
- Investors are cautioned to carefully consider the risks and expenses associated with the Fund, suggesting inherent complexities that might deter potential investors.
FAQ
What is the new distribution rate for The Gabelli Dividend & Income Trust?
The new distribution rate is $1.68 per share, paid at $0.14 monthly starting in 2025.
When will the increased monthly distributions start?
The increased monthly distributions will commence in January 2025, with payouts scheduled for the first quarter.
How often will The Gabelli Dividend & Income Trust distribute payments?
The Fund will distribute payments monthly, with $0.14 payable each month.
What factors may affect the Fund’s distribution policy?
The distribution policy is subject to modification by the Board of Trustees and can change at any time.
What should investors consider before investing in the Fund?
Investors should consider the investment objectives, risks, charges, and expenses of the Fund before making investment decisions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GDV Insider Trading Activity
$GDV insiders have traded $GDV stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $GDV stock by insiders over the last 6 months:
- MARIO J GABELLI has traded it 5 times. They made 5 purchases, buying 14,200 shares and 0 sales.
- ROBERT P. ASTORINO purchased 200 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$GDV Hedge Fund Activity
We have seen 63 institutional investors add shares of $GDV stock to their portfolio, and 86 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CORNERSTONE ADVISORS, LLC removed 1,589,335 shares (-96.4%) from their portfolio in Q3 2024
- SABA CAPITAL MANAGEMENT, L.P. added 1,554,550 shares (+41.6%) to their portfolio in Q3 2024
- GABELLI & CO INVESTMENT ADVISERS, INC. removed 626,000 shares (-100.0%) from their portfolio in Q3 2024
- SIT INVESTMENT ASSOCIATES INC added 442,340 shares (+inf%) to their portfolio in Q3 2024
- MORGAN STANLEY added 342,296 shares (+4.6%) to their portfolio in Q3 2024
- INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC added 337,680 shares (+2345.0%) to their portfolio in Q3 2024
- 1607 CAPITAL PARTNERS, LLC removed 204,039 shares (-30.3%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
RYE, N.Y., Dec. 04, 2024 (GLOBE NEWSWIRE) -- In light of the performance of The Gabelli Dividend & Income Trust (NYSE: GDV) (the “Fund”) and the Fund’s $1.4 billion in portfolio unrealized gains, The Board of Trustees has decided to increase the annual distribution to $1.68 per share, which will be paid $0.14 per share monthly. The increased monthly distributions will commence with the previously announced distribution dates in the first quarter of 2025.
| Distribution Month | Record Date | Payable Date | Distribution Per Share | |
| January | January 16, 2025 | January 24, 2025 | $0.14 | |
| February | February 13, 2025 | February 21, 2025 | $0.14 | |
| March | March 17, 2025 | March 24, 2025 | $0.14 | |
The Fund’s distribution policy is subject to modification by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:
Carter Austin
(914) 921-5475
About The Gabelli Dividend & Income Trust
The Gabelli Dividend & Income Trust is a diversified, closed-end management investment company with $3.1 billion in total net assets whose primary investment objective is to provide a high level of total return with an emphasis on dividends and income. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).
NYSE – GDV
CUSIP – 36242H104
THE GABELLI DIVIDEND & INCOME TRUST
Investor Relations Contact:
Carter Austin
(914) 921-5475
[email protected]
