On 3/15/13, GDL Fund’s Series B Cumulative Puttable and Callable Preferred Shares (NYSE: GDL.PRB) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 3/26/13. As a percentage of GDL.PRB‘s recent share price of $50.60, this dividend works out to approximately 0.74%, so look for shares of GDL.PRB to trade 0.74% lower ? all else being equal ? when GDL.PRB shares open for trading on 3/15/13. On an annualized basis, the current yield is approximately 2.97%, which compares to an average yield of 3.08% in the “ETFs & CEFs” preferred stock category, according to Preferred Stock Channel.
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Source: FULL ARTICLE at Forbes Markets