|Bid||21.89 x 1100|
|Ask||21.90 x 900|
|Day's Range||21.77 - 21.96|
|52 Week Range||19.95 - 22.52|
|Beta (5Y Monthly)||1.35|
|PE Ratio (TTM)||25.94|
|Forward Dividend & Yield||1.32 (6.08%)|
|Ex-Dividend Date||Feb 11, 2020|
|1y Target Est||N/A|
The Board of Trustees of The Gabelli Dividend & Income Trust (GDV) (the “Fund”) is pleased to announce the successful completion of its first transferable rights offering (the “Offering”) in which the Fund will issue 8,243,243 common shares, for gross proceeds totaling $164,864,860. The Offering was over-subscribed. Pursuant to the Offering, the Fund issued one transferable right (a “Right”) for each common share of the Fund to shareholders of record (record date shareholders) as of October 7, 2019.
The Board of Trustees of The Gabelli Dividend & Income Trust (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.
The Board of Trustees of The Gabelli Dividend & Income Trust (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 January, February, and March 2020. The distribution for January 2020 will be payable on January 24, 2020 to common shareholders of record on January 16, 2020.
The Gabelli Dividend & Income Trust will redeem 50% of its outstanding Series E Auction Rate Preferred Shares .
Moody's Investors Service has assigned an Aa3 rating to 5.375% Series H fixed rate preferred shares issued by Gabelli Dividend & Income Trust (GDV or the "Fund"). Moody's also affirmed the Aa3 ratings on GDV's outstanding preferred shares. The Fund's leverage is expected to remain the same as the net proceeds from new preferred share offering will be used to redeem an equal amount of the Fund's outstanding Series E auction rate preferred shares.
The Board of Trustees of The Gabelli Dividend & Income Trust (GDV) (the “Fund”) is pleased to announce the pricing of an offering of two million 5.375% Series H Cumulative Preferred Shares (“Series H Preferred”) with an aggregate liquidation value of $50 million. The Series H Preferred is perpetual, non-callable for five years, and will have a liquidation preference of $25 per share. Shares of the Series H Preferred are expected to commence trading on the New York Stock Exchange under the symbol “GDV Pr H” within thirty days of the date of issuance.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Gabelli Dividend & Income Trust and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.