GDL Fund (NYSE:GDL) to Issue Quarterly Dividend of $0.10

GDL Fund (NYSE:GDL) announced a quarterly dividend on Thursday, August 22nd, Zacks reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.10 per share by the investment management company on Monday, September 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Friday, September 13th.

GDL Fund has decreased its dividend by an average of 14.5% per year over the last three years.

NYSE:GDL traded up $0.09 on Wednesday, hitting $9.35. The stock had a trading volume of 35,014 shares, compared to its average volume of 24,676. GDL Fund has a 1 year low of $8.54 and a 1 year high of $9.72. The firm’s fifty day simple moving average is $9.29 and its two-hundred day simple moving average is $9.36.

In related news, Director James P. Conn sold 2,996 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $9.20, for a total transaction of $27,563.20. Also, Director James P. Conn sold 11,004 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $9.26, for a total value of $101,897.04. Following the sale, the director now directly owns 3,996 shares of the company’s stock, valued at $37,002.96. The disclosure for this sale can be found here.

GDL Fund Company Profile

The GDL Fund is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It invests in stocks of companies operating across diversified sectors. The fund invests in securities of companies involved in publicly announced mergers, takeovers, tender offers, and leveraged buyouts.

Further Reading: Trade Deficit

Dividend History for GDL Fund (NYSE:GDL)

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