Gabelli Dividend & Income Trust Continues Monthly Distributions, Declares Distributions of $0.11 Per Share
26 February 2021 - 2:05AM
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
declared cash distributions of $0.11 per share for each of April,
May, and June 2021.
Distribution Month
Record Date
Payable Date
April
April 16, 2021
April 23, 2021
May
May 14, 2021
May 21, 2021
June
June 16, 2021
June 23, 2021
Additionally, the Board of Trustees 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 2021 would include approximately 17% from net
investment income and 83% 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 2021 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 2021 distributions in early 2022 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.
About The Gabelli Dividend & Income Trust The Gabelli
Dividend & Income Trust is a diversified, closed-end management
investment company with $2.7 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).
NYSE – GDV CUSIP – 36242H104
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version on businesswire.com: https://www.businesswire.com/news/home/20210225005760/en/
Investor Relations Contact: Carter Austin (914) 921-5475
caustin@gabelli.com
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