On 9/17/13, GDL Fund's Series B Cumulative Puttable and Callable Preferred Shares (GDL.PRB will trade ex-dividend, for its quarterly dividend of $0.375, payable on 9/26/13. As a percentage of GDL.PRB's recent share price of $50.62, this dividend works out to approximately 0.74%, so look for shares of GDL.PRB to trade 0.74% lower — all else being equal — when GDL.PRB shares open for trading on 9/17/13. On an annualized basis, the current yield is approximately 2.97%, which compares to an average yield of 3.46% in the "ETFs & CEFs" preferred stock category, according to Preferred Stock Channel.

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As of last close, GDL.PRB was trading at a 1.24% premium to its liquidation preference amount.The chart below shows the one year performance of GDL.PRB shares, versus GDL:

Performance Comparison Chart

Below is a dividend history chart for GDL.PRB, showing historical dividends prior to the most recent $0.375 on GDL Fund's Series B Cumulative Puttable and Callable Preferred Shares :

GDL.PRB+Dividend+History+Chart

In Friday trading, GDL Fund's Series B Cumulative Puttable and Callable Preferred Shares ( GDL.PRB is currently trading flat on the day, while the common shares ( GDL - Get Report) are off about 0.1%.

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