The GDL Fund Declares Second Quarter Distribution of $0.12 Per Share
16 Mayo 2024 - 7:53AM
The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”)
declared a $0.12 per share cash distribution payable on June 21,
2024 to common shareholders of record on June 13, 2024.
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. The
distribution rate should not be considered the dividend yield or
total return on an investment in the Fund.
The Fund makes annual distributions of its
realized net long-term capital gains and quarterly cash
distributions of all or a portion of its investment company taxable
income to common shareholders. A portion of the distribution may be
a return of capital and various factors will affect the level of
the Fund’s income, such as its asset mix and use of merger
arbitrage strategies. To permit the Fund to maintain more stable
distributions, the Fund may distribute more than the entire amount
of income earned in a particular period. Because the Fund’s current
quarterly distributions are subject to modification by the Board of
Trustees at any time and the Fund’s income will fluctuate, there
can be no assurance that the Fund will pay distributions at a
particular rate or frequency.
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.
Short-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. Long-term capital gains, if
any, are distributed in the final distribution of 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 13% from net investment income and 87% 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 quarterly 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:
Laurissa Martire(914) 921-5399
About The GDL Fund The GDL Fund
is a diversified, closed-end management investment company with
$169 million in total net assets whose investment objective is to
achieve absolute returns in various market conditions without
excessive risk of capital. The Fund is managed by Gabelli Funds,
LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).
NYSE – GDLCUSIP – 361570104
Investor Relations Contact:Laurissa Martire(914)
921-5399lmartire@gabelli.com
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