Gabelli Dividend & Income Trust to Redeem $50 Million (50%) of Its Series E Auction Rate Preferred Shares
June 11 2019 - 4:30PM
Business Wire
The Gabelli Dividend & Income Trust (NYSE:GDV) (the “Fund”)
will redeem 50% (2,000 of 4,000 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 an amount equal to any accumulated and
unpaid dividends and distributions thereon to the redemption date
of July 11, 2019 (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, 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 participants to
allocate redeemed shares among beneficial owners may differ from
other participants 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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Carter AustinLaurissa Martire(914) 921-5070
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