The GDL Fund Declares Fourth Quarter Distribution of $0.12 Per Share
The GDL Fund (NYSE:GDL) has announced a $0.12 per share cash distribution for the fourth quarter, payable on December 20, 2024, to shareholders of record as of December 13, 2024. The distribution composition for 2024 includes approximately 31% from net investment income, 41% from net capital gains, and 28% return of capital. The Fund makes annual distributions of realized net long-term capital gains and quarterly distributions of investment company taxable income. The Board of Trustees monitors the distribution level considering the Fund's net asset value and market conditions.
Il Fondo GDL (NYSE:GDL) ha annunciato una distribuzione in contanti di $0,12 per azione per il quarto trimestre, che sarà pagata il 20 dicembre 2024, agli azionisti registrati al 13 dicembre 2024. La composizione della distribuzione per il 2024 include circa 31% da reddito da investimenti netti, 41% da guadagni in conto capitale netti e 28% rimborso di capitale. Il Fondo effettua distribuzioni annuali di guadagni in conto capitale netti a lungo termine realizzati e distribuzioni trimestrali di reddito imponibile da società d'investimento. Il Consiglio di Amministrazione monitora il livello delle distribuzioni considerando il valore netto delle attività del Fondo e le condizioni di mercato.
El Fondo GDL (NYSE:GDL) ha anunciado una distribución en efectivo de $0.12 por acción para el cuarto trimestre, pagadera el 20 de diciembre de 2024, a los accionistas registrados hasta el 13 de diciembre de 2024. La composición de la distribución para 2024 incluye aproximadamente 31% de ingresos netos de inversiones, 41% de ganancias de capital netas y 28% devolución de capital. El Fondo realiza distribuciones anuales de ganancias a largo plazo netas realizadas y distribuciones trimestrales de ingresos imponibles de la compañía de inversión. La Junta de Fiduciarios supervisa el nivel de distribución teniendo en cuenta el valor neto de activos del Fondo y las condiciones del mercado.
GDL 펀드(NYSE:GDL)는 주당 $0.12의 현금 배당금을 2024년 4분기에 발표하였으며, 이는 2024년 12월 20일에 지급되고 2024년 12월 13일 기준의 주주에게 지급됩니다. 2024년 배당금 구성은 대략 31%는 순투자소득, 41%는 순자본이득, 28%는 자본환급으로 이루어져 있습니다. 이 펀드는 실현된 장기 자본이득에 대한 연간 배당과 투자회사의 과세소득에 대한 분기 배당을 시행합니다. 이사회는 펀드의 순자산가치와 시장 조건을 고려하여 배당 수준을 모니터링합니다.
Le Fonds GDL (NYSE:GDL) a annoncé une distribution en espèces de 0,12 $ par action pour le quatrième trimestre, qui sera versée le 20 décembre 2024, aux actionnaires inscrits au 13 décembre 2024. La composition de la distribution pour 2024 comprend environ 31% de revenus nets d'investissement, 41% de gains en capital nets et 28% de retour de capital. Le Fonds effectue des distributions annuelles de gains en capital nets à long terme réalisés et des distributions trimestrielles de revenus imposables des sociétés d'investissement. Le Conseil des fiduciaires surveille le niveau de distribution en tenant compte de la valeur nette d'actifs du Fonds et des conditions du marché.
Der GDL-Fonds (NYSE:GDL) hat eine Barverteilung von $0,12 pro Aktie für das vierte Quartal angekündigt, die am 20. Dezember 2024 an die Aktionäre ausgezahlt wird, die am 13. Dezember 2024 im Aktienregister stehen. Die Verteilungskomposition für 2024 umfasst etwa 31% aus Nettoinvestitionseinkommen, 41% aus Nettokapitalgewinnen und 28% Rückzahlung von Kapital. Der Fonds tätigt jährliche Ausschüttungen aus realisierten Nettogewinnen aus langfristigen Kapitalgewinnen und vierteljährliche Ausschüttungen von steuerpflichtigem Einkommen der Investmentgesellschaft. Der Vorstand überwacht das Verteilungsniveau unter Berücksichtigung des Nettoinventarwerts des Fonds und der Marktbedingungen.
- Distribution maintained at $0.12 per share for Q4 2024
- 41% of distributions come from net capital gains
- 31% of distributions derive from net investment income
- 28% of distributions represent return of capital, indicating insufficient earnings to cover distributions
- Distribution level subject to modification based on market conditions and Fund's NAV
Insights
This quarterly distribution announcement reveals important details about GDL Fund's dividend composition and payout structure. The
The fund's merger arbitrage strategy and mixed asset approach creates a complex income stream. While the regular quarterly payout provides predictable income, investors should note that the high return of capital portion effectively returns part of their original investment, reducing their cost basis. This tax-efficient structure may benefit some investors but also signals the fund may be struggling to generate sufficient organic returns to fully cover distributions.
RYE, N.Y., Nov. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) declared a
The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
The Fund makes annual distributions of its realized net long-term capital gains and quarterly cash distributions of all or a portion of its investment company taxable income to common shareholders. A portion of the distribution may be a return of capital and various factors will affect the level of the Fund’s income, such as its asset mix and use of merger arbitrage strategies. To permit the Fund to maintain more stable distributions, the Fund may distribute more than the entire amount of income earned in a particular period. Because the Fund’s current quarterly distributions are subject to modification by the Board of Trustees at any time and the Fund’s income will fluctuate, there can be no assurance that the Fund will pay distributions at a particular rate or frequency.
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.
Short-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. Long-term capital gains, if any, are distributed in the final distribution of the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2024 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 The GDL Fund
The GDL Fund is a diversified, closed-end management investment company with
NYSE – GDL
CUSIP – 361570104
Investor Relations Contact:
Laurissa Martire
(914) 921-5399
lmartire@gabelli.com
FAQ
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