GAMCO Announces Change to the Record Date of Its Shareholder Designated Charitable Contribution
GAMCO Investors (NYSE:GBL) announced a change to the record date for its $0.25 per share shareholder designated charitable contribution (SDCC), up from $0.20, now set for February 28, 2021, instead of November 16, 2020. This initiative highlights the firm’s ESG commitment, having allocated nearly $37 million since the program's inception in 2013. The total charitable contributions since 1999 amount to approximately $62 million. Only 501(c)(3) recognized charities are eligible for these donations, which will be disbursed by Q2 2021.
- Increase in charitable contribution to $0.25 per share, a 25% rise from previous amount.
- Total contributions through SDCC program reach nearly $37 million since 2013.
- GAMCO's charitable contributions since its IPO total approximately $62 million.
- None.
GREENWICH, Conn.--(BUSINESS WIRE)--GAMCO Investors, Inc. (“GAMCO”) (NYSE:GBL) announced today that its Board of Directors approved a change to the record date of its previously announced
This program underscores our commitment to managing socially responsible portfolios since 1987, which has evolved to include integrating ESG (environmental, social, and governance) factors into the analysis of companies and the structuring of portfolios.
Since the inception of GAMCO’s SDCC program in 2013, and counting the recently announced estimated
As background, Warren Buffett had a similar program at Berkshire Hathaway from 1981 to 2003. Charitable giving is a cornerstone of society and an obligation for those with the means to make a difference in the world. As an organization, GAMCO will have no control over the recipients of the donations made on behalf of our shareholders.
Shareholders have until February 28, 2021 to register their shares to participate in the program. The charitable donations will be made no later than the second quarter of 2021. Only charities that are recognized 501(c)(3) organizations are qualified to receive the donation from GAMCO on each shareholder’s behalf. A list of eligible charities is available at: http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check.
About GAMCO Investors, Inc.
GAMCO is known for its research-driven approach to equity investing. GAMCO conducts its investment advisory business principally through two subsidiaries: GAMCO Asset Management Inc. (approximately 1,500 institutional and private wealth separate accounts, principally in the U.S.) and Gabelli Funds, LLC (24 open-end funds, a SICAV, and 16 closed-end funds). GAMCO serves a broad client base including institutions, intermediaries, offshore investors, private wealth, and direct retail investors.
GAMCO offers a wide range of solutions across Value and Growth Equity, ESG-SRI, Convertibles, sector-focused strategies including Gold and Utilities, Merger Arbitrage, and Fixed Income. In 1977, GAMCO launched its flagship All Cap Value strategy, Gabelli Value, and in 1986 launched its mutual fund business. In addition to its Value strategies, for over 30 years the firm has managed solutions in Growth Equity, Convertibles, SRI, and Merger Arbitrage.
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