GDL Fund (GDL) Plans $0.10 Quarterly Dividend

GDL Fund (NYSE:GDL) declared a quarterly dividend on Monday, November 19th, Wall Street Journal reports. Stockholders of record on Friday, December 7th will be paid a dividend of 0.10 per share by the investment management company on Friday, December 14th. This represents a $0.40 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Thursday, December 6th.

GDL Fund has decreased its dividend payment by an average of 19.3% annually over the last three years.

Shares of GDL stock opened at $9.17 on Wednesday. GDL Fund has a 52-week low of $8.54 and a 52-week high of $10.04.

In related news, insider Mario J. Gabelli acquired 58,904 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average price of $8.93 per share, with a total value of $526,012.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mario J. Gabelli acquired 67,754 shares of the firm’s stock in a transaction dated Thursday, October 25th. The stock was bought at an average cost of $8.88 per share, with a total value of $601,655.52. The disclosure for this purchase can be found here.

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About GDL Fund

The GDL Fund is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It invests in stocks of companies operating across diversified sectors. The fund invests in securities of companies involved in publicly announced mergers, takeovers, tender offers, and leveraged buyouts.

Further Reading: Closed-End Mutual Funds (CEFs)

Dividend History for GDL Fund (NYSE:GDL)

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