|
The Board of Directors of The Gabelli Convertible Securities Fund, Inc. (NYSE - GCV), at a meeting
held on May 17, 2000, authorized a $0.20 per share cash distribution payable on June 26, 2000 to
Common Shareholders of record on June 16, 2000, pursuant to the Gabelli Convertible Securities
Fund's 8% annual distribution policy. Long term capital gains, if any, will be included on a
pro-rata basis in all distributions throughout the year.
Under the Convertible Securities Fund's payout policy, the Fund will pay out a minimum annual
distribution of 8% of the average net asset value of the Fund. The Fund will pay $0.20 per share
in each of the first three quarters of the year and a distribution in the fourth quarter of a
sufficient amount to pay 8% 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 Convertible Securities Fund is a closed-end, diversified management investment company
with $119 million in total assets whose primary investment objective is to seek a high level of total
return through a combination of current income and capital appreciation by investing primarily in
convertible securities.
| |