|
Rye, NY -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE - GAB) has declared a $0.36
per share cash distribution payable on December 27, 1999 to common stock shareholders of record on
December 17, 1999, pursuant to the Gabelli Equity Trust's 10% Distribution Policy. Long term capital
gains, if any, will be included on a pro-rata basis in all distributions throughout the year.
Under the Equity Trust's payout policy the Fund will pay out a minimum annual distribution of 10% of
the average net asset value of the Fund. The Fund will pay $0.27 per share in each of the first three
quarters of the year and an adjusting distribution in the fourth quarter of a sufficient amount to pay
10% of the average net asset value of the Fund, as of the last day of the four preceding calendar
quarters, or to satisfy the minimum distribution requirements of the Internal Revenue Code, whichever
is greater.
The Gabelli Equity Trust Inc. is a closed-end, non-diversified management investment company with $1.4
billion in total assets whose primary objective is long term growth of capital.
| |