Gabelli Dividend & Income Trust Maintains Monthly Distributions
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Gabelli Dividend & Income Trust's Monthly Distributions
The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) has approved the continuation of its fixed monthly cash distributions. The Board declared cash distributions of $0.11 per share for the upcoming months including October, November, and December.
Details of the Declared Distributions
The specific dates for the distributions are as follows:
Distribution Schedule
October: Record date is October 17 and payable date is October 24.
November: Record date is November 14 and payable date is November 21.
December: Record date is December 13 and payable date is December 20.
Strategic Opportunities and Market Evaluation
The Board of Directors is continuously evaluating potential strategic opportunities for the Fund, especially given the current attractive environment to invest in the broader equity markets. Each quarter, the Board reviews distributions based on the Fund's income, realized capital gains, or other capital available.
Monitoring Distribution Levels
The Board will keep an eye on the Fund’s distribution level in relation to its net asset value and the overall financial market environment. Should there be a need, an adjusting distribution may be paid in December to include any extra income and net realized capital gains that exceed the monthly distributions for that year. This effort aims to satisfy the minimum distribution requirements set out by tax regulations for regulated investment companies.
Understanding Tax Implications of Distributions
It is important for shareholders to note that all or part of the distribution may be categorized as long-term capital gain or qualified dividend income for individuals, with applicable federal rates based on their tax brackets. Moreover, specific shareholders whose incomes exceed certain thresholds may incur additional taxes on their net investment income.
Return of Capital Considerations
In cases where the Fund does not produce enough earnings to cover its aggregate distributions, the excess amount may be treated as a return of capital. This can generally be non-taxable and will adjust the cost basis of the shareholder’s original investment.
Distribution Composition for 2024
For the year 2024, each distribution paid to common shareholders is anticipated to encompass approximately 14% from net investment income and 86% from net capital gains. These estimates are not meant for tax reporting purposes; actual sources of distributions will be confirmed after the year concludes.
Investor Information and Contact
Investors are encouraged to carefully consider their investment strategies, objectives, and other factors before investing. For more details related to the Fund’s distribution policy and other inquiries, interested individuals can reach out to:
Carter Austin
(914) 921-5475
About The Gabelli Dividend & Income Trust
The Gabelli Dividend & Income Trust operates as a diversified closed-end management investment company with approximately $2.8 billion in total net assets. The primary investment objective of the Fund focuses on delivering a high total return with a significant emphasis on dividends and income. The Fund benefits from management by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc.
Frequently Asked Questions
What is the monthly distribution amount declared by the Fund?
The Fund has declared a monthly cash distribution of $0.11 per share for October, November, and December.
When are the record and payable dates for the distributions?
The record and payable dates vary by month: October 17 and 24, November 14 and 21, December 13 and 20.
How often does the Board review the distribution levels?
The Board reviews distribution levels each quarter considering the Fund's income and realized capital gains.
What happens if the Fund does not generate sufficient earnings?
If the earnings are insufficient to cover distributions, the excess will be treated as a return of capital, generally non-taxable.
Who manages the Gabelli Dividend & Income Trust?
The Fund is managed by Gabelli Funds, LLC, which is a subsidiary of GAMCO Investors, Inc.
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