Gabelli Convertible and Income Securities Fund Declares Distribution of $0.12 Per Share
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.
Il Gabelli Convertible and Income Securities Fund (NYSE:GCV) ha dichiarato una distribuzione in contante di $0.12 per azione che sarà pagata il 20 dicembre 2024, agli azionisti registrati il 13 dicembre 2024. Questa distribuzione del quarto trimestre porta il totale delle distribuzioni per il 2024 a $0.48 per azione, che è $0.18 superiore alla politica di distribuzione annuale minima dell'8% basata sul NAV medio. Il NAV del fondo è oscillato tra $3.63 e $3.86 nel corso degli ultimi quattro trimestri. La distribuzione può essere trattata come guadagno di capitale a lungo termine o come reddito da dividendi qualificati, soggetti alle aliquote fiscali applicabili.
El Gabelli Convertible and Income Securities Fund (NYSE:GCV) ha declarado una distribución en efectivo de $0.12 por acción que se pagará el 20 de diciembre de 2024 a los accionistas registrados el 13 de diciembre de 2024. Esta distribución del cuarto trimestre lleva el total de distribuciones de 2024 a $0.48 por acción, lo que representa $0.18 más que la política de distribución anual mínima del 8% basada en el NAV promedio. El NAV del fondo ha fluctuado entre $3.63 y $3.86 durante los últimos cuatro trimestres. La distribución puede ser tratada como ganancia de capital a largo plazo o ingreso de dividendos calificados, sujeta a las tasas impositivas aplicables.
가벨리 전환채권 및 소득 증권 펀드(NYSE:GCV)는 주당 $0.12의 현금 배당금을 2024년 12월 20일에 지급할 것이라고 발표했으며, 2024년 12월 13일 기준 주주에게 지급됩니다. 이 네 번째 분기 배당금은 2024년 총 배당금을 주당 $0.48로 끌어올려, 평균 NAV 기준의 8% 최소 연간 배당 정책보다 $0.18 높습니다. 펀드의 NAV는 지난 4분기 동안 $3.63와 $3.86 사이에서 변동했습니다. 이 배당금은 장기 자본 이득 또는 적격 배당 소득으로 간주될 수 있으며, 적용 가능한 세율에 따라 다릅니다.
Le Gabelli Convertible and Income Securities Fund (NYSE:GCV) a déclaré une distributions en espèces de 0,12 $ par action, payable le 20 décembre 2024, aux actionnaires enregistrés au 13 décembre 2024. Cette distribution du quatrième trimestre porte le total des distributions pour 2024 à 0,48 $ par action, soit 0,18 $ de plus que la politique de distribution annuelle minimale de 8 % basée sur la valeur liquidative moyenne. La valeur liquidative du fonds a fluctué entre 3,63 $ et 3,86 $ au cours des quatre derniers trimestres. Cette distribution peut être considérée comme un gain en capital à long terme ou un revenu de dividendes qualifiés, soumis aux taux d'imposition applicables.
Der Gabelli Convertible and Income Securities Fund (NYSE:GCV) hat eine Barausschüttung von $0.12 pro Aktie erklärt, die am 20. Dezember 2024 an Aktionäre, die am 13. Dezember 2024 registriert sind, gezahlt wird. Diese Ausschüttung für das vierte Quartal bringt die Gesamtausschüttungen für 2024 auf $0.48 pro Aktie, was $0.18 höher ist als die jährliche Mindestverteilung von 8% basierend auf dem durchschnittlichen NAV. Der NAV des Fonds schwankte in den letzten vier Quartalen zwischen $3.63 und $3.86. Die Ausschüttung kann als langfristiger Kapitalgewinn oder tatsächliches Dividenden Einkommen behandelt werden, unterliegt den anwendbaren Steuersätzen.
- Distribution of $0.12 per share announced for Q4 2024
- Total annual distribution of $0.48 per share for 2024
- Distribution exceeds minimum policy requirement by $0.18
- Declining NAV trend from $3.86 (Dec 2023) to $3.75 (Sept 2024)
- Distribution may include return of capital if not fully covered by earnings
Insights
This quarterly distribution announcement reveals important financial details about GCV's dividend policy. The declared
The distribution's tax treatment combining long-term capital gains, qualified dividends and possible return of capital offers tax-efficiency benefits for investors. However, the higher-than-required payout rate raises questions about long-term sustainability given the Fund's modest
RYE, N.Y., Nov. 14, 2024 (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
We note that
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. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2024 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2024 distributions in early 2025 via Form 1099-DIV.
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
Investor Relations Contact:
Laurissa Martire
(914) 921-5399
lmartire@gabelli.com
FAQ
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