GDL Fund's Series B Cumulative Puttable and Callable Preferred Shares Goes Ex-Dividend Soon

On 9/17/15, 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 9/28/15. As a percentage of GDL.PRB's recent share price of $50.40, 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 9/17/15. On an annualized basis, the current yield is approximately 2.98%, which compares to an average yield of 5.14% 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 0.80% premium to its liquidation preference amount, versus the average premium of 0.65% in the "ETFs & CEFs" category. 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 Tuesday 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) are up about 0.6%.

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