Gabelli Dividend & Income Trust to Redeem 18% of Its Series E Auction Rate Preferred Shares
October 16 2018 - 4:05PM
Business Wire
The Gabelli Dividend & Income Trust (NYSE:GDV) (the “Fund”)
will redeem approximately 18% (860 of 4,860 shares) of its
outstanding Series E Auction Rate Preferred Shares (the “Series E
Preferred”). The shares will be redeemed at $25,000 per Series E
Preferred (the liquidation preference) plus accumulated and unpaid
dividends and distributions through the redemption date of November
15, 2018 (the “Redemption Price”).
From and after the redemption date, the Series E Preferred being
redeemed will no longer be deemed outstanding, dividends will cease
to accumulate and all the rights of the Series E Preferred
shareholders with respect to such Series E Preferred being redeemed
will cease, except the right to receive the Redemption Price,
without interest.
Depository Trust Company ("DTC"), the holder of record,
determines the allocation of the partial series redemption among
each participant account. Each participant account, as nominee for
underlying beneficial owners (street name shareholders), in turn
determines the allocations of redeemed shares among underlying
beneficial owners. The procedures used by various participant
accounts to allocate redeemed shares among beneficial owners may
differ from other participant accounts as well as from the
procedures used by DTC.
Questions relating to and requests for additional copies of, the
notice of redemption and the related materials should be directed
to the Fund at 800-GABELLI (800-422-3554) or (914) 921-5070.
The Gabelli Dividend & Income Trust is a diversified,
closed-end management investment company with $2.5 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. (NYSE:GBL).
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The Gabelli Dividend & Income TrustCarter AustinLaurissa
Martire(914) 921-5070
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