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On May 13, 2021, Gabelli Equity Trust (NYSE:GAB) announced shareholders can expect to receive a dividend payable on June 23, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Gabelli Equity Trust is set for June 15, 2021. The company's current dividend payout sits at $0.15, equating to a dividend yield of 8.6% at current price levels.
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.
Over the past year, Gabelli Equity Trust has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on June 15, 2020 the company's payout was $0.15, which has returned to its value today. Gabelli Equity Trust's dividend yield last year was 14.32%, which has since decreased by 5.72%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.
To read more about Gabelli Equity Trust click here.
Posted In: GAB
