Gabelli Convertible and Income Securities Fund's Series B 6.00% Cumulative Preferred Stock Ex-Dividend Reminder
By The Online Investor Staff, Friday, March 15, 1:35 PM ET
On 3/18/19, Gabelli Convertible and Income Securities Fund's Series B 6.00% Cumulative Preferred Stock (NYSE:GCV.PRB) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 3/26/19. As a percentage of GCV.PRB's recent share price of $26.32, this dividend works out to approximately 1.42%, so look for shares of GCV.PRB to trade 1.42% lower — all else being equal — when GCV.PRB shares open for trading on 3/18/19. On an annualized basis, the current yield is approximately 5.67%, which compares to an average yield of 5.44% in the "ETFs & CEFs" preferred stock category, according to Preferred Stock Channel.
As of last close, GCV.PRB was trading at a 5.76% premium to its liquidation preference amount, versus the average premium of 1.15% in the "ETFs & CEFs" category.
The chart below shows the one year performance of GCV.PRB shares, versus GCV:
Below is a dividend history chart for GCV.PRB, showing historical dividends prior to the most recent $0.375 on Gabelli Convertible and Income Securities Fund's Series B 6.00% Cumulative Preferred Stock:
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In Friday trading, Gabelli Convertible and Income Securities Fund's Series B 6.00% Cumulative Preferred Stock (NYSE:GCV.PRB) is currently down about 0.4% on the day, while the common shares (NYSE:GCV) are up about 0.5%.
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