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Gabelli Equity Trust, 7.20% Tax Advantaged Series B Cumulative Preferred Stock
Ticker Symbol: GAB-B* CUSIP: 362397408 Exchange: NYSE
* NOTE: This security is no longer trading as of 1/08/2007
Security has been Called for: Monday, January 8, 2007
December 4, 2006 -- The Board of Directors of The Gabelli Equity Trust Inc. authorized the redemption of all (4,950,000 Shares) of its outstanding 7.20% Tax Advantaged Series B Cumulative Preferred Stock. The redemption date is January 8, 2007, and the redemption price is $25.06 per Preferred Share, which consists of $25.00 per Preferred Share (the liquidation preference) plus accumulated and unpaid dividends to the redemption date of $0.06 per Preferred Share. From and after the redemption date, the Preferred Shares will no longer be deemed outstanding, dividends will cease to accrue and all the rights of the Preferred Shareholders with respect to the Preferred Shares will cease, except the right to receive the redemption price. Shareholders of record will be mailed a redemption notice and letter of transmittal shortly. The redemption price will be paid only to shareholders of record who complete and sign the letter of transmittal and submit certificates for the number of Preferred Shares being redeemed. The paying agent for this redemption is Computershare Trust Company, N.A. __________
May 23, 2006--The Gabelli Equity Trust Inc., as authorized by the Board of Directors, will redeem 25% (1,650,000 Shares) of its outstanding 7.20% Tax Advantaged Series B Cumulative Preferred Stock. The redemption date is June 26, 2006 and the redemption price is $25.00 per Preferred Share, which is equal to the liquidation preference of the Preferred Shares. Preferred Shareholders of record on June 19, 2006 will receive the quarterly dividend of $0.45 per Preferred Share on the payable date of June 26, 2006. Since the redemption date and the payable date for the quarterly dividend are both June 26, 2006, no accumulated but unpaid dividends will be included as a component of the redemption price. The Preferred Shares are callable at any time at the liquidation preference of $25.00 per share plus accrued dividends following the expiration of the five-year call protection on June 20, 2006. The redemption will be made pro rata from each Preferred Shareholder based on the respective number of Preferred Shares held by each such holder on the redemption date. From and after the redemption date, the Preferred Shares to be redeemed will no longer be deemed outstanding, dividends will cease to accrue and all the rights of the Preferred Shareholders with respect to the Preferred Shares to be redeemed will cease, except the right to receive the redemption price. Shareholders of record will be mailed a redemption notice and letter of transmittal shortly. The redemption price will be paid only to shareholders of record who complete and sign the letter of transmittal and submit certificates for the number of Preferred Shares being redeemed. The paying agent for this redemption is Computershare Trust Company, N.A.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Gabelli Equity Trust, 7.20% Tax Advantaged Series B Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 6/20/2006 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions paid quarterly on 3/26, 6/26, 9/26 & 12/26. The majority of dividends paid on the preferred should qualify for the 15% tax rate (see the prospectus for details). It is a condition of issuance that the preferred stock be rated aaa by Moody's and that it maintain that rating or be redeemed. The Fund qualifies as a regulated investment company for federal income tax purposes.
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Go to Parent Company's Record (GAB)
IPO - 6/14/2001 - 6.60 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $171.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Corporate Center, Rye, NY 10580 |
| Main Phone Number |
914-921-5100 |
| Fax Number |
914-921-5392 |
| Shareholder Services
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800-336-6983
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| Toll Free Phone Number |
800-422-3554 |
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