On 6/17/14, Gabelli Equity Trust's Series G Cumulative Preferred Stock (GAB.PRG) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 6/26/14. As a percentage of GAB.PRG's recent share price of $22.77, this dividend works out to approximately 1.37%, so look for shares of GAB.PRG to trade 1.37% lower — all else being equal — when GAB.PRG shares open for trading on 6/17/14. On an annualized basis, the current yield is approximately 5.46%, which compares to an average yield of 4.48% in the "ETFs & CEFs" preferred stock category, according to Preferred Stock Channel.
As of last close, GAB.PRG was trading at a 8.40% discount to its liquidation preference amount. The chart below shows the one year performance of GAB.PRG shares, versus GAB:
Below is a dividend history chart for GAB.PRG, showing historical dividends prior to the most recent $0.3125 on Gabelli Equity Trust's Series G Cumulative Preferred Stock :