Gabelli Dividend & Income Trust to Redeem Its Outstanding 6.00% Series D Cumulative Preferred Shares
November 18 2019 - 2:15PM
Business Wire
The Board of Trustees of The Gabelli Dividend & Income Trust
(NYSE:GDV) (the “Fund”) authorized the redemption of all remaining
outstanding 6.00% Series D Cumulative Preferred Shares (the “Series
D Preferred Shares”). The redemption date is December 26, 2019 (the
“Redemption Date”), and the redemption price is $25.00 per Series D
Preferred, which is equal to the liquidation preference of $25.00
per Series D Preferred. Series D Preferred shareholders of record
on December 18, 2019 will receive the quarterly distribution of
$0.375 per Series D Preferred on the payable date of December 26,
2019. Since the redemption date and the payable date for the
quarterly distribution are both December 26, 2019, no accumulated,
unpaid dividends will be included as a component of the redemption
price.
As of the Redemption Date, the Series D Preferred will no longer
be deemed outstanding, dividends will cease to accumulate and all
the rights of the Series D Preferred shareholders with respect to
the Series D Preferred will cease, except the right to receive the
redemption price.
The Series D Preferred, which trade on the New York Stock
Exchange under the symbol “GDV Pr D”, are rated “Aa3” by Moody’s
Investors Service and have an annual dividend rate of $1.50 per
share. The Series D Preferred were issued on November 3, 2005 at
$25.00 per share and pay distributions quarterly. The Series D
Preferred are callable at any time, after proper notification is
given, at the liquidation value of $25.00 per share plus accrued
dividends.
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).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191118005765/en/
For information: Carter Austin Laurissa 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