Gabelli Dividend & Income Trust Announces That GAMCO Investors, Inc. and Affiliates Purchased $107 million of Series M Cumulative Preferred

Rhea-AI Summary

Gabelli Dividend & Income Trust (NYSE: GDV) has announced that GAMCO Investors and its affiliates have purchased $107 million of the Fund's Series M Cumulative Preferred Shares. The Series M Preferred carries a 4.80% dividend rate and has specific features:

• Puttable/callable in December 2025
• Mandatory redemption in December 2026

This investment by GAMCO Investors, a significant player in the financial sector, demonstrates confidence in the Fund's performance and strategy. Investors are advised to carefully consider the Fund's investment objectives, risks, charges, and expenses before making investment decisions.

Positive

• GAMCO Investors and affiliates invested $107 million in GDV's Series M Preferred Shares
• Series M Preferred offers a 4.80% dividend rate to shareholders
• Investment by GAMCO suggests confidence in GDV's performance and strategy

Negative

• Mandatory redemption of Series M Preferred in December 2026 may impact future cash flows

RYE, N.Y., Oct. 18, 2024 (GLOBE NEWSWIRE) -- Gabelli Dividend & Income Trust (NYSE: GDV) (the “Fund”) announced today that GAMCO Investors, Inc. (“GAMCO”) (OTCQX: GAMI) and affiliates purchased $107 million of the Fund’s Series M Cumulative Preferred Shares (“Series M Preferred”). The Series M preferred carries a 4.80% dividend rate, is puttable/callable in December 2025 and has a mandatory redemption in December 2026.  

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 Gabelli Dividend & Income Trust
The Gabelli Dividend & Income Trust is a diversified, closed-end management investment company with $3.0 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. (OTCQX: GAMI).

NYSE – GDV
CUSIP – 36242H104

THE GABELLI DIVIDEND & INCOME TRUST

Investor Relations Contact:
Laurissa Martire
(914) 921-5399
lmartire@gabelli.com

FAQ

What is the dividend rate for GDV's Series M Cumulative Preferred Shares?

The Series M Cumulative Preferred Shares of Gabelli Dividend & Income Trust (GDV) carry a 4.80% dividend rate.

When are GDV's Series M Preferred Shares puttable/callable?

The Series M Preferred Shares are puttable/callable in December 2025.

What is the mandatory redemption date for GDV's Series M Preferred Shares?

The Series M Preferred Shares have a mandatory redemption date in December 2026.

How much did GAMCO Investors purchase of GDV's Series M Preferred Shares?

GAMCO Investors and its affiliates purchased $107 million of GDV's Series M Cumulative Preferred Shares.