GBL - GBL STOCK NEWS

The Gabelli Dividend & Income Trust (NYSE:GDV) has confirmed its commitment to fixed monthly cash distributions of $0.11 per share for July, August, and September 2022. The record and payable dates for these distributions are July 15 and 22, August 17 and 24, and September 16 and 23, respectively. The Board of Trustees will continuously monitor distribution levels based on the fund's net asset value and market conditions. Additionally, if necessary, an adjusting distribution may occur in December to meet Internal Revenue Code requirements.

The Gabelli Multimedia Trust Inc. (NYSE:GGT) has announced a cash distribution of $0.22 per share, payable on June 23, 2022, to shareholders of record as of June 15, 2022. The Fund maintains a commitment to a minimum annual distribution of 10% of its average net asset value. However, the Board can modify this policy, and there is no guarantee of continued distributions. Approximately 4% of distributions in 2022 are projected from net capital gains, with 96% categorized as a return of capital, affecting shareholders' cost basis.

The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) has declared a cash distribution of $0.12 per share, payable on June 23, 2022, to shareholders of record on June 15, 2022. The Fund aims for a minimum annual distribution of 8% of its average net asset value. The Board will review distribution levels regularly, with no guarantees on policy continuity. For 2022, distributions will consist of approximately 45% net capital gains and 55% return of capital. Shareholders will receive tax information via Form 1099-DIV in early 2023.

The Board of Trustees of Bancroft Fund Ltd. (NYSE American: BCV) has declared a cash distribution of $0.32 per share, payable on June 23, 2022, to shareholders of record as of June 15, 2022. The Fund aims to distribute the greater of 5% of its annual market price or meet minimum Internal Revenue Code requirements for regulated investment companies. The Fund's distribution policy is subject to change based on market conditions and net asset value, and components of the distribution will include long-term capital gains and qualified dividend income.

GAMCO Investors, Inc. (NYSE: GBL) will launch the Gabelli Financial Services Opportunities ETF (NYSE: GABF) on or around May 10, 2022. The ETF aims for capital appreciation by investing in firms in the financial services sector. A notable feature is a "loyalty" program that waives fees for the first $25 million in assets under management. The ETF will focus on companies benefiting from economic trends in wealth advisory and digital applications. As of March 31, 2022, GAMCO managed $33.4 billion in assets.

GAMCO Investors reported strong Q1 2022 results, with a net income of $17.5 million, up $1.5 million year-over-year. GAAP earnings per share increased to $0.66 from $0.59 in Q1 2021. Revenues rose to $69.6 million, driven by growth in investment advisory fees. GAMCO ended the quarter with $131.5 million in cash and investments. The firm continued its commitment to ESG initiatives and launched new semi-transparent ETFs focused on sustainability and automation. Additionally, shareholders have designated $48 million in charitable contributions since 2013, showcasing corporate responsibility.

The Gabelli Global Utility & Income Trust (NYSE American: GLU) has announced a transferable rights offering for its record date common shareholders. Each shareholder will receive one right for each common share held, allowing them to purchase additional shares at a subscription price of $16.00 for every four rights. The offering will begin trading on May 10, 2022, with an expiration date of June 23, 2022. The Fund, managing $160 million in net assets, aims to provide consistent after-tax returns with a focus on tax-advantaged dividend income.

Gabelli Funds will host the Omaha Research Conference on April 29, 2022, at Charles Schwab Field in conjunction with the Berkshire Hathaway Annual Meeting. The event starts at 9:00 am CST and will include a Value Investing panel featuring Mario Gabelli and John Rogers, CEO discussions with Lindsay Corp., Markel Corp., and Valmont Industries, and insights from Adam Mead, author of The Complete Financial History of Berkshire Hathaway.

Interested participants can register via Zoom.