|
The Board of Directors of The Gabelli Convertible Securities Fund, Inc. (NYSE - GCV)
declared a $0.20 per share cash distribution payable on September 25, 2000 to common
stock shareholders of record on September 15, 2000, pursuant to the Gabelli Convertible
Securities Fund's 8% 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 an adjusting
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, Inc. is a closed-end, diversified management
investment company with $118 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.
| |