Welcome to our dedicated page for Gabelli Convertible & Income news (Ticker: GCV), a resource for investors and traders seeking the latest updates and insights on Gabelli Convertible & Income stock.
The Gabelli Convertible and Income Securities Fund, Inc. (NYSE: GCV) is a diversified closed-end management investment company with a primary goal of achieving a high level of total return. This objective is pursued through a strategic mix of current income and capital appreciation by investing in convertible securities. These securities offer the potential for equity-like returns while providing downside protection through their bond-like structures.
Founded by Mario J. Gabelli and operating under the umbrella of GAMCO Investors, Inc., The Gabelli Convertible and Income Securities Fund leverages the renowned Private Market Value (PMV) with a Catalyst™ approach. This strategy focuses on identifying undervalued companies with impending catalysts to unlock value. As of December 31, 2016, GAMCO Investors managed approximately $39.7 billion in assets, primarily through its two main registered investment advisers: GAMCO Asset Management Inc. and Gabelli Funds, LLC.
The Gabelli Convertible and Income Securities Fund's diversified portfolio spans various sectors such as Health Care, Financial Services, Energy and Utilities, Telecommunications, Food and Beverage, Aerospace, and Automotive. This broad sector exposure allows the fund to mitigate risks and capitalize on opportunities across different segments of the economy.
Operating exclusively within the United States, the fund is committed to delivering consistent results to its investors. The company continually seeks out high-potential convertible securities to add to its portfolio, guided by comprehensive research and a disciplined investment approach.
For more information or investor relations inquiries, please contact Laurissa Martire at (914) 921-5399 or via email at lmartire@gabelli.com.
Gabelli Convertible and Income Securities Fund (NYSE:GCV) has declared a cash distribution of $0.12 per share, payable on March 24, 2025, to shareholders of record on March 17, 2025. The Fund maintains a minimum annual distribution policy of 8% of average net asset value or sufficient amounts to meet IRS requirements for regulated investment companies.
The current 2025 distribution comprises approximately 17% from net investment income and 83% return of capital based on current accounting records. The Board of Directors reviews potential distributions quarterly, considering income, realized capital gains, and available capital. The distribution policy may be modified, and rates shouldn't be considered as dividend yield or total return indicators.
Distributions may be treated as long-term capital gain or qualified dividend income, subject to a maximum 20% federal tax rate for individuals. Some shareholders may also be subject to a 3.8% Medicare surcharge on net investment income.
The Gabelli Convertible and Income Securities Fund (NYSE:GCV) has declared a $0.12 per share cash distribution payable on December 20, 2024, to shareholders of record on December 13, 2024. This fourth quarter distribution brings the total 2024 distributions to $0.48 per share, which is $0.18 higher than the 8% minimum annual distribution policy based on average NAV. The Fund's NAV has fluctuated between $3.63 and $3.86 over the past four quarters. The distribution may be treated as long-term capital gain or qualified dividend income, subject to applicable tax rates.
The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) has declared a $0.12 per share cash distribution, payable on September 23, 2024, to shareholders of record on September 16, 2024. The Fund aims to distribute annually at least 8% of its average net asset value or meet minimum IRS requirements for regulated investment companies. The distribution may include income, realized capital gains, or capital, and is reviewed quarterly by the Board of Directors.
The Fund's 2024 distributions are estimated to comprise 8% from net investment income and 92% as return of capital. Shareholders will receive detailed tax information for 2024 distributions in early 2025 via Form 1099-DIV. The Fund's distribution policy is subject to change, and investors are advised to consider the Fund's objectives, risks, charges, and expenses carefully before investing.
The Gabelli Convertible and Income Securities Fund (NYSE:GCV) has declared a $0.12 per share cash distribution, payable on June 21, 2024, to shareholders of record as of June 13, 2024. The fund aims to provide a minimum annual distribution of 8% of its average net asset value or meet the minimum distribution requirements of the Internal Revenue Code. The fund's net asset value per share fluctuates daily. The Board of Directors reviews potential distributions each quarter, considering the fund's net asset value and financial market conditions. The distribution policy can change at any time and should not be considered a dividend yield or total return on investment. The distributions may include long-term capital gain, qualified dividend income, or a return of capital. For 2024, approximately 83% of distributions are from net investment income, with 17% as a return of capital. Shareholders will receive detailed tax information in early 2025 via Form 1099-DIV.
The Gabelli Convertible and Income Securities Fund (NYSE:GCV) announced a cash distribution of $0.12 per share, payable on March 24, 2023, to shareholders of record by March 17, 2023. This distribution aligns with the Fund's policy of a minimum annual payout of 8% of its average net asset value. The Fund's net asset value is subject to daily fluctuations, and the distribution is subject to modification by the Board of Directors. Shareholders should be aware that part of the distribution may be categorized as a return of capital, which is generally not taxable. The Fund's total net assets stand at $101 million.
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