Gabelli Dividend & Income Trust Continues Monthly Distributions, Announcing Distributions of $0.11 Per Share
November 16 2018 - 7:30AM
Business Wire
The Board of Trustees of The Gabelli Dividend & Income Trust
(NYSE:GDV) (the “Fund”) approved the continuation of its policy of
paying fixed monthly cash distributions. The Board of Trustees
announced cash distributions of $0.11 per share for each of
January, February, and March 2019.
The distribution for January 2019 will be payable on January 24,
2019 to common shareholders of record on January 16, 2019.
The distribution for February 2019 will be payable on February
21, 2019 to common shareholders of record on February 13, 2019.
The distribution for March 2019 will be payable on March 22,
2019 to common shareholders of record on March 15, 2019.
Each quarter, the Board of Trustees reviews the amount of any
potential distribution from the income, realized capital gain, or
capital available. The Board of Trustees will continue to monitor
the Fund’s distribution level, taking into consideration the Fund’s
net asset value and the financial market environment. If necessary,
the Fund will pay an adjusting distribution in December which
includes any additional income and net realized capital gains in
excess of the monthly distributions for that year to satisfy the
minimum distribution requirements of the Internal Revenue Code for
regulated investment companies. 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.
All or part of the distribution may be treated as long-term
capital gain or qualified dividend income (or a combination of
both) for individuals, each subject to the maximum federal income
tax rate, which is currently 20% in taxable accounts for
individuals (or less depending on an individual’s tax bracket). In
addition, certain U.S. shareholders who are individuals, estates or
trusts and whose income exceeds certain thresholds will be required
to pay a 3.8% Medicare surcharge on their "net investment income",
which includes dividends received from the Fund and capital gains
from the sale or other disposition of shares of the Fund.
If the Fund does not generate sufficient earnings (dividends and
interest income and realized net capital gain) equal to or in
excess of the aggregate distributions paid by the Fund in a given
year, then the amount distributed in excess of the Fund’s earnings
would be deemed a return of capital. Since this would be considered
a return of a portion of a shareholder’s original investment, it is
generally not taxable and would be treated as a reduction in the
shareholder’s cost basis.
Long-term capital gains, qualified dividend income, ordinary
income, and return of capital, if any, will be allocated on a
pro-rata basis to all distributions to common shareholders for the
year. Based on the accounting records of the Fund currently
available, each of the distributions paid to common shareholders in
2018 would include approximately 25% from net investment income and
75% from net capital gains on a book basis. This does not represent
information for tax reporting purposes. The estimated components of
each distribution are updated and provided to shareholders of
record in a notice accompanying the distribution and are available
on our website (www.gabelli.com). The final determination of the
sources of all distributions in 2019 will be made after year end
and can vary from the monthly estimates. Shareholders should not
draw any conclusions about the Fund’s investment performance from
the amount of the current distribution. All shareholders with
taxable accounts will receive written notification regarding the
components and tax treatment for all 2019 distributions in early
2020 via Form 1099-DIV.
Investors should carefully consider the investment objectives,
risks, charges, and expenses of the Fund before investing. More
information regarding the Fund’s distribution policy and other
information about the Fund is available by calling 800-GABELLI
(800-422-3554) or visiting www.gabelli.com.
The Gabelli Dividend & Income Trust is a diversified,
closed-end management investment company with $2.4 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).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181116005191/en/
Carter AustinLaurissa Martire(914) 921-5070
Gabelli Dividend and Inc... (NYSE:GDV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gabelli Dividend and Inc... (NYSE:GDV)
Historical Stock Chart
From Jul 2023 to Jul 2024