Welcome to our dedicated page for Gabelli Convertible & Income news (Ticker: GCV), a resource for investors and traders seeking the latest updates and insights on Gabelli Convertible & Income stock.
The Gabelli Convertible and Income Securities Fund Inc. (NYSE: GCV) is a diversified, closed-end management investment company that focuses on generating total return through current income and capital appreciation. Public announcements from the Fund highlight its emphasis on convertible securities and income-oriented investments, managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc.
This news page aggregates official communications and press releases related to GCV. Readers can find recurring updates on the Fund’s cash distributions, including details on per-share amounts, record and payment dates, and the Fund’s stated intention to pay a minimum annual distribution of 8% of its average net asset value or an amount sufficient to meet regulated investment company distribution requirements. These notices often explain how distributions may be characterized for tax purposes as net investment income, long-term capital gain, qualified dividend income, or return of capital.
In addition to distribution announcements, GCV news may cover Board decisions, such as director appointments, and capital structure developments, such as the private placement of Series G Cumulative Preferred Stock. The Fund’s releases frequently include explanations of its distribution policy, the Board’s quarterly review process, and cautions that distribution rates should not be interpreted as the Fund’s dividend yield or total return.
Investors and researchers can use this page to follow how the Fund communicates its objectives, portfolio income characteristics, and key corporate actions over time. Regularly reviewing these updates can provide context on GCV’s approach to income generation, return of capital, and shareholder communications.
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The Gabelli Convertible and Income Securities Fund (NYSE:GCV) announced a cash distribution of $0.12 per share, payable on March 24, 2023, to shareholders of record by March 17, 2023. This distribution aligns with the Fund's policy of a minimum annual payout of 8% of its average net asset value. The Fund's net asset value is subject to daily fluctuations, and the distribution is subject to modification by the Board of Directors. Shareholders should be aware that part of the distribution may be categorized as a return of capital, which is generally not taxable. The Fund's total net assets stand at $101 million.
The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) announced the successful closing of a private placement of 5.20% Series G Cumulative Preferred Stock. The Series G Preferred is non-callable until June 26, 2025 with a liquidation preference of $10 per share. Distributions will be paid semiannually starting from June 26, 2023. The press release clarifies that this announcement is not an offer for purchase and the Series G Preferred has not been registered under the Securities Act of 1933.
The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) announced a cash distribution of
The Gabelli Convertible and Income Securities Fund (NYSE:GCV) announced a cash distribution of
The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) has declared a cash distribution of
The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) has declared a cash distribution of
The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) announced total distributions for 2021 of $0.56 per share, comprising $0.53 previously paid and an additional $0.03 per share. This distribution is payable on January 6, 2022, to shareholders of record as of December 30, 2021. The additional payment helps meet minimum distribution requirements under the Internal Revenue Code, avoiding Federal excise tax. Of the total distribution, approximately 2% comes from net investment income and 98% from net capital gains.