The GDL Fund Declares Quarterly Distribution, Payable on June 23, 2020
May 14, 2020 at 09:20 am EDT
Share
The GDL Fund announced that it has declared a second quarter cash dividend of $0.12 per share payable on June 23, 2020 to common shareholders of record on June 16, 2020. The 20% increase in the quarterly distribution from $0.10 per share to $0.12 per share increases the annualized distribution rate to $0.48 per share from $0.40 per share.
The GDL Fund (the Fund) is a diversified closed-end management investment company. 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. The Fund will invest at least 80% of its assets in securities or hedging arrangements relating to companies involved in corporate transactions or reorganizations, giving rise to the possibility of realizing gains upon or within relatively short periods of time after the completion of such transactions or reorganizations. It has investment in sectors, including financial services, energy and utilities, semiconductors, food and beverage, healthcare, wireless communications, automotive and cable and satellite. The Fund's advisor is Gabelli Funds, LLC.
THE GDL FUND 
