Gabelli Equity Trust 10% Distribution Policy Reaffirmed and Declared Fourth Quarter Distribution of $0.15 Per Share
The Gabelli Equity Trust (NYSE:GAB) has reaffirmed its 10% distribution policy and declared a Q4 cash distribution of $0.15 per share, payable December 20, 2024. This brings the total 2024 distributions to $0.60 per share, exceeding the 10% policy requirement of $0.53 based on average NAV. The distribution comprises approximately 4% from net investment income, 20% from net capital gains, and 76% return of capital. The Fund's NAV fluctuated between $5.15 and $5.51 during 2024, and the Board has chosen to distribute $0.07 more than required by the policy.
Il Gabelli Equity Trust (NYSE:GAB) ha riconfermato la sua politica di distribuzione del 10% e ha dichiarato una distribuzione in contante per il quarto trimestre di $0.15 per azione, pagabile il 20 dicembre 2024. Ciò porta il totale delle distribuzioni del 2024 a $0.60 per azione, superando il requisito della politica del 10% di $0.53 basato sul NAV medio. La distribuzione è composta da circa il 4% da reddito da investimenti netti, il 20% da guadagni di capitale netti e il 76% di ritorno di capitale. Il NAV del Fondo è oscillato tra $5.15 e $5.51 durante il 2024 e il Consiglio ha deciso di distribuire $0.07 in più rispetto a quanto richiesto dalla politica.
El Gabelli Equity Trust (NYSE:GAB) ha reafirmado su política de distribución del 10% y ha declarado una distribución en efectivo para el cuarto trimestre de $0.15 por acción, pagadera el 20 de diciembre de 2024. Esto lleva el total de las distribuciones de 2024 a $0.60 por acción, superando el requisito de la política del 10% de $0.53 basado en el NAV promedio. La distribución se compone aproximadamente de un 4% de ingresos netos de inversión, un 20% de ganancias de capital netas y un 76% de retorno de capital. El NAV del Fondo osciló entre $5.15 y $5.51 durante 2024, y la Junta ha optado por distribuir $0.07 más de lo requerido por la política.
가벨리 에쿼티 트러스트 (NYSE:GAB)는 10% 배당 정책을 재확인하며 2024년 4분기 현금 배당금을 $0.15 per 주식으로 발표하고, 2024년 12월 20일에 지급될 예정입니다. 이는 2024년 총 배당금을 $0.60 per 주식으로 만들어, 평균 NAV를 기준으로 한 10% 정책 요구사항인 $0.53을 초과한 것입니다. 배당금은 대략 4%가 순투자소득에서, 20%가 순자본이익에서, 그리고 76%가 자본회수에서 발생합니다. 펀드의 NAV는 2024년 동안 $5.15와 $5.51 사이에서 변동하였으며, 이사회는 정책 요구사항인 $0.07을 초과하여 분배하기로 결정했습니다.
Le Gabelli Equity Trust (NYSE:GAB) a réaffirmé sa politique de distribution de 10 % et a déclaré une distribution en espèces pour le quatrième trimestre de $0.15 par action, payable le 20 décembre 2024. Cela porte le total des distributions pour 2024 à $0.60 par action, dépassant l'exigence de la politique de 10 % de $0.53 basé sur la NAV moyenne. La distribution est composée d'environ 4 % de revenus d'investissement nets, 20 % de gains en capital nets et 76 % de retour de capital. La NAV du Fonds a fluctué entre $5.15 et $5.51 en 2024, et le Conseil a choisi de distribuer $0.07 de plus que requis par la politique.
Der Gabelli Equity Trust (NYSE:GAB) hat seine 10% Verteilungspolitik bekräftigt und eine Barauszahlung für das vierte Quartal von $0.15 je Aktie erklärt, die am 20. Dezember 2024 zahlbar ist. Damit beläuft sich die Gesamtausschüttung für 2024 auf $0.60 je Aktie und übersteigt somit die Anforderungen der 10%-Politik von $0.53 basierend auf dem durchschnittlichen NAV. Die Ausschüttung setzt sich aus etwa 4% aus Nettoanlageerträgen, 20% aus Nettoveräußerungsgewinnen und 76% aus Kapitalrückzahlung zusammen. Der NAV des Fonds schwankte 2024 zwischen $5.15 und $5.51, und der Vorstand hat beschlossen, $0.07 mehr als durch die Politik gefordert auszuschütten.
- Distribution exceeds policy requirement by $0.07 per share
- Total annual distribution of $0.60 per share for 2024
- Consistent quarterly distribution maintained at $0.15 per share
- 76% of distribution classified as return of capital, indicating insufficient earnings to cover distributions
- Only 4% of distribution comes from net investment income
- NAV shows volatility, fluctuating between $5.15 and $5.51
Insights
This distribution announcement reveals important financial details about The Gabelli Equity Trust's dividend policy. The declared
The high return of capital component suggests the fund is distributing more than its earned income and realized gains, potentially eroding the NAV over time. While this maintains an attractive distribution yield, investors should note this isn't purely from portfolio performance. The NAV fluctuation between
RYE, N.Y., Nov. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the “Fund”) reaffirmed and satisfied its
The Fund intends to pay a minimum annual distribution of
We note that
The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The Fund’s distribution policy is subject to modification by the Board of Directors at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently
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.
Long-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. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2024 would include approximately
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:
Molly Marion
(914) 921-5681
About The Gabelli Equity Trust
The Gabelli Equity Trust Inc. is a diversified, closed-end management investment company with
NYSE – GAB
CUSIP – 362397101
THE GABELLI EQUITY TRUST INC.
Investor Relations Contact:
Molly Marion
(914) 921-5681
mmarion@gabelli.com
FAQ
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