|
The Board of Directors of The Gabelli Convertible Securities Fund, Inc. (NYSE - GCV)
authorized a $0.50 per share cash distribution payable on June 28, 1999 to Preferred
Shareholders of record on June 21, 1999.
The Preferred Shares, which trade on the New York Stock Exchange under the symbol
"GCV Pr", are rated 'AAA' by Standard and Poor's and have an annual dividend rate of
$2.00 per share. The 1,200,000 Preferred Shares were issued on May 16, 1997 at $25.00
per share and pay distributions quarterly.
A portion of this distribution will be treated as long-term capital gains. Long-term
capital gains will be allocated to all distributions for the year. The final
determination of the source of all distributions in 1999 will be made after year-end.
The Gabelli Convertible Securities Fund is a closed-end, diversified management
investment company with $125 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.
| |