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Gabelli Equity Trust, 5.875% Series D Cumulative Preferred Stock
Ticker Symbol: GAB-D* CUSIP: 362397705 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/26/2019
Security has been Called for: Thursday, December 26, 2019
November 18,2019 -- The Board of Directors of The Gabelli Equity Trust Inc. has authorized the redemption of all remaining outstanding shares of the Fund’s 5.875% Series D Cumulative Preferred Stock. The redemption date is December 26, 2019,and the redemption price is $25.00 per Series D Preferred, which is equal to the liquidation preference of $25.00 per Series D Preferred. Series D Preferred shareholders of record on December 18, 2019 will receive the quarterly distribution of $0.3671875 per Series D Preferred on the payable date of December 26, 2019. Since the redemption date and the payable date for the quarterly distribution are both December 26, 2019, no accumulated, unpaid distributions will be included as a component of the redemption price. As of the Redemption Date, the Series D Preferred will no longer be deemed outstanding, dividends will cease to accumulate and all the rights of the Series D Preferred shareholders with respect to the Series D Preferred will cease, except the right to receive the redemption price. The Series D Preferred, which trade on the New York Stock Exchange under the symbol “GAB Pr D”, are rated ‘A1’ by Moody’s Investor Services and have an annual dividend rate of $1.46875 per share. The Series D Preferred was issued on October 7, 2003 at $25 per share and pay distributions quarterly. The Series D Preferred are callable at any time, after proper notification is given, at the liquidation preference of $25.00 per share plus accrued dividends. Questions relating to and requests for additional copies of, the notice of redemption and the related materials should be directed to the Fund at 800-GABELLI (800-422-3554) or (914)921-5070. ____________ March 5, 2009 -- The Gabelli Equity Trust Inc., as authorized by the Board of Directors, will redeem 480,000 shares of its outstanding 5.875% Series D Cumulative Preferred Stock. The redemption date is March 26, 2009 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 March 19, 2009 will receive the quarterly dividend of $0.3671875 per Preferred Share on the payable date of March 26, 2009. Since the redemption date and the payable date for the quarterly dividend are both March 26, 2009, 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 October 7, 2008. 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. Depository Trust Company (“DTC”), the holder of record, determines the allocations of this partial series redemption pro rata from each participant account. Each participant account, as nominee for underlying beneficial owners (street name shareholders), in turn determines the allocations of redeemed shares among underlying beneficial owners. The procedures used by various participant accounts to allocate redeemed shares among beneficial owners may differ from other participant accounts as well as from procedures used by DTC. The Preferred Shares, which trade on the New York Stock Exchange under the symbol “GAB Pr D”, are rated ‘Aaa’ by Moody’s Investor Services and have an annual dividend rate of $1.46875 per share. The Preferred Shares pay distributions quarterly.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Gabelli Equity Trust Inc., 5.875% Series D Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/26/2008 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 5.875% ($1.46875) per annum paid quarterly on 3/26, 6/26, 9/26 & 12/26 to holders of record on the fifth preceding business day (NOTE: the ex-dividend date is one business day prior to the record date). To be issued the units must be assigned a rating of Aaa by Moody's. Dividends paid by preferreds issued by closed-end funds can be 0% to 100% eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and can also be 0% to 100% eligible for the dividends received deduction for corporate holders (see page 61 of the prospectus for further information). In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GAB)
IPO - 10/3/2003 - 3.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Market Value $61.5 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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