Gabelli Convertible and Income Securities Fund Declares Distribution of $0.12 Per Share
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.
Il Gabelli Convertible and Income Securities Fund (NYSE:GCV) ha dichiarato una distribuzione in contante di $0,12 per azione, che sarà pagata il 24 marzo 2025, agli azionisti registrati il 17 marzo 2025. Il Fondo mantiene una politica di distribuzione annuale minima dell'8% del valore medio netto degli attivi o somme sufficienti per soddisfare i requisiti dell'IRS per le società di investimento regolate.
La distribuzione attuale del 2025 consiste approssimativamente in il 17% da reddito netto da investimenti e l'83% da ritorno di capitale basato sui registri contabili attuali. Il Consiglio di Amministrazione esamina potenziali distribuzioni su base trimestrale, considerando il reddito, i guadagni di capitale realizzati e il capitale disponibile. La politica di distribuzione può essere modificata e le aliquote non dovrebbero essere considerate come indicatori di rendimento da dividendi o di rendimento totale.
Le distribuzioni possono essere trattate come guadagni di capitale a lungo termine o reddito da dividendi qualificati, soggetti a un'aliquota fiscale federale massima del 20% per gli individui. Alcuni azionisti potrebbero anche essere soggetti a una sovrattassa Medicare del 3,8% sul reddito netto da investimenti.
El Gabelli Convertible and Income Securities Fund (NYSE:GCV) ha declarado una distribución en efectivo de $0.12 por acción, que se pagará el 24 de marzo de 2025, a los accionistas registrados el 17 de marzo de 2025. El Fondo mantiene una política de distribución anual mínima del 8% del valor neto de los activos promedio o montos suficientes para cumplir con los requisitos del IRS para las compañías de inversión reguladas.
La distribución actual de 2025 comprende aproximadamente 17% de ingresos netos de inversiones y 83% de retorno de capital según los registros contables actuales. La Junta Directiva revisa las distribuciones potenciales trimestralmente, considerando ingresos, ganancias de capital realizadas y capital disponible. La política de distribución puede ser modificada y las tasas no deben considerarse como indicadores de rendimiento de dividendos o de rendimiento total.
Las distribuciones pueden ser tratadas como ganancias de capital a largo plazo o ingresos de dividendos calificados, sujetos a una tasa impositiva federal máxima del 20% para individuos. Algunos accionistas también pueden estar sujetos a un recargo del 3.8% de Medicare sobre los ingresos netos de inversiones.
가벨리 전환 및 소득 증권 펀드 (NYSE:GCV)는 주당 $0.12의 현금 배당금을 선언하였으며, 이는 2025년 3월 24일에 2025년 3월 17일 기준 주주에게 지급됩니다. 이 펀드는 평균 순자산 가치의 8% 또는 규제 투자 회사에 대한 IRS 요구 사항을 충족하기 위한 충분한 금액을 유지하는 최소 연간 분배 정책을 유지합니다.
2025년 현재 분배는 현재 회계 기록에 따라 순 투자 소득의 약 17%와 자본 반환의 83%로 구성됩니다. 이사회는 수익, 실현된 자본 이득 및 사용 가능한 자본을 고려하여 분기마다 잠재적인 분배를 검토합니다. 분배 정책은 수정될 수 있으며, 비율은 배당 수익률이나 총 수익 지표로 간주되어서는 안 됩니다.
분배는 장기 자본 이득 또는 자격 있는 배당 소득으로 처리될 수 있으며, 개인의 경우 최대 20%의 연방 세율이 적용됩니다. 일부 주주는 순 투자 소득에 대해 3.8%의 메디케어 추가세를 부과받을 수도 있습니다.
Le Gabelli Convertible and Income Securities Fund (NYSE:GCV) a déclaré une distribution en espèces de 0,12 $ par action, payable le 24 mars 2025, aux actionnaires enregistrés le 17 mars 2025. Le Fonds maintient une politique de distribution annuelle minimale de 8 % de la valeur nette moyenne des actifs ou de montants suffisants pour répondre aux exigences de l'IRS pour les sociétés d'investissement réglementées.
La distribution actuelle de 2025 comprend environ 17 % de revenus nets d'investissement et 83 % de retour de capital, selon les registres comptables actuels. Le Conseil d'administration examine trimestriellement les distributions potentielles, en tenant compte des revenus, des gains en capital réalisés et du capital disponible. La politique de distribution peut être modifiée et les taux ne doivent pas être considérés comme des indicateurs de rendement des dividendes ou de rendement total.
Les distributions peuvent être considérées comme des gains en capital à long terme ou des revenus de dividendes qualifiés, soumis à un taux d'imposition fédéral maximum de 20 % pour les particuliers. Certains actionnaires peuvent également être soumis à un supplément Medicare de 3,8 % sur les revenus nets d'investissement.
Der Gabelli Convertible and Income Securities Fund (NYSE:GCV) hat eine Barausschüttung von 0,12 $ pro Aktie erklärt, die am 24. März 2025 an die am 17. März 2025 registrierten Aktionäre ausgezahlt wird. Der Fonds verfolgt eine Mindestjahresverteilungspolitik von 8 % des durchschnittlichen Nettovermögenswerts oder ausreichenden Beträgen zur Erfüllung der Anforderungen des IRS für regulierte Investmentgesellschaften.
Die derzeitige Ausschüttung für 2025 besteht aus ungefähr 17 % aus Nettoinvestitionseinkommen und 83 % Rückzahlung des Kapitals, basierend auf den aktuellen Buchhaltungsunterlagen. Der Vorstand prüft potenzielle Ausschüttungen vierteljährlich unter Berücksichtigung von Einkommen, realisierten Kapitalgewinnen und verfügbarem Kapital. Die Ausschüttungspolitik kann geändert werden, und die Sätze sollten nicht als Indikatoren für die Dividendenrendite oder die Gesamtrendite betrachtet werden.
Ausschüttungen können als langfristige Kapitalgewinne oder qualifizierte Dividende behandelt werden, die einer maximalen bundesstaatlichen Steuer von 20 % für Einzelpersonen unterliegen. Einige Aktionäre könnten auch einer Medicare-Zuschlagssteuer von 3,8 % auf das Nettoinvestitionseinkommen unterliegen.
- Maintains 8% minimum annual distribution policy
- Regular quarterly distribution maintained at $0.12 per share
- 83% of current distribution is return of capital, not earned income
- Only 17% of distribution comes from net investment income
Insights
The latest
The high return of capital component has significant implications: While this portion of the distribution isn't immediately taxable, it reduces shareholders' cost basis in the fund, effectively deferring taxes until shares are sold. However, this structure essentially means investors are receiving their own capital back rather than true investment returns.
The fund's commitment to an 8% minimum annual distribution rate based on NAV is notably aggressive in the current market environment. While this may attract yield-seeking investors, the high return of capital component suggests this rate might not be sustainable without eroding the fund's asset base. For context, many similar funds typically aim for more conservative distribution rates of 5-6% that can be more readily supported by actual investment income and capital gains.
The quarterly review process by the Board of Directors, while providing flexibility to adjust the distribution, hasn't resulted in a more conservative policy despite the high return of capital component. This raises questions about the long-term sustainability of the current distribution strategy and its potential impact on the fund's NAV over time.
RYE, N.Y., Feb. 13, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) (the “Fund”) declared a
The Fund intends to pay a minimum annual distribution of
Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the current 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, the current distribution paid in 2025 to common shareholders with respect to the Fund’s fiscal year ending September 30, 2025 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:
Laurissa Martire
(914) 921-5399
About Gabelli Convertible and Income Securities Fund
The Gabelli Convertible and Income Securities Fund Inc. is a diversified, closed-end management investment company with
NYSE: GCV
CUSIP – 36240B109
THE GABELLI CONVERTIBLE AND INCOME SECURITIES FUND INC.
Investor Relations Contact:
Laurissa Martire
(914) 921-5399
lmartire@gabelli.com
FAQ
What is GCV's latest dividend amount and payment date?
What percentage of GCV's current distribution is return of capital?
What is GCV's minimum annual distribution policy?
How are GCV's distributions taxed for shareholders?
When will GCV shareholders receive tax documentation for 2025 distributions?
