GDL Fund (NYSE:GDL) announced a quarterly dividend on Tuesday, November 21st, Wall Street Journal reports. Shareholders of record on Friday, December 8th will be given a dividend of 0.10 per share by the investment management company on Friday, December 15th. This represents a $0.40 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Thursday, December 7th.
GDL Fund has decreased its dividend by an average of 20.6% annually over the last three years.
GDL Fund (NYSE GDL) remained flat at $$9.80 during trading hours on Thursday. 35,915 shares of the stock were exchanged, compared to its average volume of 50,750. GDL Fund has a twelve month low of $9.64 and a twelve month high of $10.38.
In related news, insider Mario J. Gabelli acquired 84,712 shares of GDL Fund stock in a transaction on Friday, December 1st. The shares were bought at an average cost of $10.00 per share, with a total value of $847,120.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mario J. Gabelli acquired 32,982 shares of GDL Fund stock in a transaction on Monday, December 4th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $329,820.00. The disclosure for this purchase can be found here.
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About GDL Fund
The GDL Fund (the Fund) is a diversified closed-end management investment fund. The Fund’s primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund will seek to achieve its objective by investing primarily in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs, and liquidations.
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