GDV Stock

We hear a lot of chatter in the business media about productivity these days—specifically how it could decline in the US (and, by extension, hit our gains from stocks—and stock-focused CEFs).

RYE, N.Y., Dec. 04, 2024 (GLOBE NEWSWIRE) -- In light of the performance of The Gabelli Dividend & Income Trust (NYSE: GDV) (the “Fund”) and the Fund's $1.4 billion in portfolio unrealized gains, The Board of Trustees has decided to increase the annual distribution to $1.68 per share, which will be paid $0.14 per share monthly. The increased monthly distributions will commence with the previously announced distribution dates in the first quarter of 2025.

RYE, N.Y., Nov. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE: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 2025.

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.

Gabelli Dividend & Income Trust offers a stable, modest monthly distribution with a deep discount and value-oriented portfolio. GDV's discount to NAV has narrowed since our last update but remains relatively attractive based on its historical level. Saba Capital Management, a well-known activist group, has taken an initial stake in the fund, which could push for some changes in the future.

GDV.PR.K are preferred shares issued by Gabelli Dividend & Income Trust. The securities have a high duration, making them sensitive to interest rates. The share has recently outperformed the S&P 500 due to falling interest rates. I believe that most of the easy gains from falling rates are now behind us.

RYE, N.Y., Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE: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 October, November, and December 2024.

Gabelli Dividend & Income Trust has a low yield of 5.76%, lower than most of U.S. equity-focused closed-end fund peers. The fund has delivered a 30.69% total return since late October 2023, outperforming the S&P 500 Index. The fund employs mostly a buy-and-hold strategy, and most of its largest holdings have performed pretty well over the past several months.

Closed-end funds (CEFs)—our favorite 8%+ yielding investments—have a new (and popular!) fan. And he's making a big move I see sending CEF prices higher.