Gabelli Equity Trust's 5.00% Series K Cumulative Preferred Stock About To Put More Money In Your Pocket

By Preferred Stock Channel Staff, Wednesday, December 13, 1:34 PM ET

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On 12/15/23, Gabelli Equity Trust's 5.00% Series K Cumulative Preferred Stock (NYSE:GAB.PRK) will trade ex-dividend, for its quarterly dividend of $0.3125, payable on 12/26/23. As a percentage of GAB.PRK's recent share price of $21.29, this dividend works out to approximately 1.47%, so look for shares of GAB.PRK to trade 1.47% lower — all else being equal — when GAB.PRK shares open for trading on 12/15/23. On an annualized basis, the current yield is approximately 5.88%, which compares to an average yield of 5.87% in the "ETFs & CEFs" preferred stock category, according to Preferred Stock Channel.

As of last close, GAB.PRK was trading at a 15.00% discount to its liquidation preference amount. The chart below shows the one year performance of GAB.PRK shares, versus GAB:

Performance Comparison Chart

Below is a dividend history chart for GAB.PRK, showing historical dividends prior to the most recent $0.3125 on Gabelli Equity Trust's 5.00% Series K Cumulative Preferred Stock:

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In Wednesday trading, Gabelli Equity Trust's 5.00% Series K Cumulative Preferred Stock (NYSE:GAB.PRK) is currently up about 0.2% on the day, while the common shares (NYSE:GAB) are trading flat.

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Gabelli Equity Trust's 5.00% Series K Cumulative Preferred Stock About To Put More Money In Your Pocket

Gabelli Equity Trust's 5.00% Series K Cumulative Preferred Stock About To Put More Money In Your Pocket | www.PreferredStockChannel.com