Gabelli Dividend & Income Trust Continues Monthly Distributions, Declares Distributions of $0.11 Per Share
May 16 2024 - 9:10AM
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
declared cash distributions of $0.11 per share for each of July,
August, and September 2024.
Distribution Month |
Record Date |
Payable Date |
Distribution Per Share |
July |
July 17, 2024 |
July 24, 2024 |
$0.11 |
August |
August
16, 2024 |
August 23, 2024 |
$0.11 |
September |
September 16, 2024 |
September 23, 2024 |
$0.11 |
Additionally, the Board of Directors continues
to evaluate potential strategic opportunities for the Fund in what
we believe to be an attractive environment to invest in the broader
equity markets.
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 for long term capital gains, 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, less expenses, 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, investment company taxable 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 2024 would include approximately 16%
from net investment income, 79% from net capital gains and 5% would
be deemed a return of capital 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 2024 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 individual shareholders with taxable accounts will receive
written notification regarding the components and tax treatment for
all 2024 distributions in early 2025 via Form 1099-DIV.
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
TrustThe Gabelli Dividend & Income Trust is a
diversified, closed-end management investment company with $2.8
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 – GDVCUSIP – 36242H104
THE GABELLI DIVIDEND & INCOME TRUSTInvestor
Relations Contact:Carter Austin(914)
921-5475caustin@gabelli.com
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