GDL Fund Declares $0.12 Q2 Distribution, 70% Return of Capital
GDL Fund’s board declared a $0.12 per share cash distribution payable June 23 to shareholders of record June 15, monitoring payout relative to NAV and market conditions. Each 2026 quarterly distribution is estimated at 6% net investment income, 24% net capital gains and 70% return of capital.
1. Distribution Details
The board of trustees declared a $0.12 per share cash distribution for the second quarter, payable June 23 to common shareholders of record on June 15. The board will continue to monitor distribution levels against the fund’s net asset value and prevailing financial market environment.
2. Composition Breakdown
Based on current accounting records, each distribution in 2026 is estimated to consist of approximately 6% net investment income, 24% net capital gains and 70% return of capital. Distributions in excess of earnings reduce a shareholder’s cost basis and are generally non-taxable as return of capital.
3. Fund Profile and Strategy
The GDL Fund is a diversified, closed-end management investment company with $131 million in net assets, managed by Gabelli Funds. Its objective is to achieve absolute returns through strategies such as merger arbitrage, with flexibility to distribute more than income earned to maintain stable payouts.