RYE, N.Y., Aug.  12, 2026  (GLOBE NEWSWIRE) -- The Board of Trustees of The GDL Fund (NYSE:GDL) (the &#34;Fund&#34;) declared a $0.12 per share cash distribution payable on September 23, 2026 to common shareholders of

The GDL Fund Declares Third Quarter Distribution of $0.12 Per Share

GDL declares $0.12 per-share September distribution for 2026

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>RYE, N.Y., Aug.  12, 2026  (GLOBE NEWSWIRE) -- The Board of Trustees of The GDL Fund (NYSE:GDL) (the &amp;#34;Fund&amp;#34;) declared a $0.12 per share cash distribution payable on September 23, 2026 to common shareholders of</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>The GDL Fund announced a $0.12 per-share cash distribution payable on September 23, 2026, with a record date of September 16. The payout is described as comprising roughly 10% net investment income, 64% net capital gains, and 26% return of capital, though allocations may vary and the Board can adjust distributions. Investors should not expect a guaranteed yield or total return.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>GDL declares $0.12 per-share cash distribution. Payable Sept 23, 2026; record date Sept 16, 2026.</li><li>Board notes distributions reflect income, capital gains, and return of capital. Not guaranteed as yield.</li><li>Estimated 2026 mix: 10% net investment income, 64% net capital gains, 26% return of capital.</li><li>Fund assets about $119 million; Gabelli Funds LLC, GAMCO parent, manages.</li><li>Distributions may include return of capital; 1099-DIV issued in 2027.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>The GDL Fund (GDL)</strong>: Declared a $0.12 distribution; payment and record dates provided.</li><li><strong>Gabelli Funds, LLC</strong>: Fund manager; subsidiary of GAMCO; potential influence on asset mix.</li><li><strong>GAMCO Investors, Inc. (GAMI)</strong>: Parent company of Gabelli Funds; could impact distribution philosophy.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This is a corporate developments update for a closed-end fund, aligning with Corporate Developments and Dividend Change. It informs investors about ongoing payout policy and NAV considerations.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Payable date Sept 23, 2026; record date Sept 16, 2026.</li><li>Distribution mix signals cash flow but not guaranteed; tax treatment varies.</li><li>Fund size ~$119M; liquidity may influence price moves.</li><li>Board discretion can alter quarterly distributions, limiting predictability.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Cash distribution: $0.12 per share.</li><li>Payable date: Sept 23, 2026; record date: Sept 16, 2026.</li><li>Total net assets: about $119 million.</li><li>Estimated 2026 mix: 10% net investment income, 64% net capital gains, 26% return of capital.</li><li>Tax note: 1099-DIV to be issued in early 2027; components may vary.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Neutral to modestly bullish over the next 1-2 quarters as recurring distributions stabilize NAV.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">RYE, N.Y., Aug.  12, 2026  (GLOBE NEWSWIRE) -- The Board of Trustees of The GDL Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GDL">GDL</a>) (the "Fund") declared a $0.12 per share cash distribution payable on September 23, 2026 to common shareholders of record on September 16, 2026.</p>  <p align="justify">The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.</p>  <p align="justify">The Fund makes annual distributions of its realized net long-term capital gains and quarterly cash distributions of all or a portion of its investment company taxable income to common shareholders. A portion of the distribution may be a return of capital and various factors will affect the level of the Fund’s income, such as its asset mix and use of merger arbitrage strategies. To permit the Fund to maintain more stable distributions, the Fund may distribute more than the entire amount of income earned in a particular period. Because the Fund’s current quarterly distributions are subject to modification by the Board of Trustees at any time and the Fund’s income will fluctuate, there can be no assurance that the Fund will pay distributions at a particular rate or frequency.</p>  <p align="justify">If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.</p>  <p align="justify">Short-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Long-term capital gains, if any, are distributed in the final distribution of the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2026 would include approximately 10% from net investment income, 64% from net capital gains and 26% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2026 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2026 distributions in early 2027 via Form 1099-DIV.</p>  <p align="justify"><em>Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:</em></p>  <p align="justify"><em>Priscilla De Vargas</em><br></br><em>(914) 921-7761</em></p>  <p align="justify"><strong>About The GDL Fund </strong><br></br>The GDL Fund is a diversified, closed-end management investment company with $119 million in total net assets whose investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/quote/GAMI">GAMI</a>).</p>  <p align="justify">NYSE – GDL<br></br>CUSIP – 361570104</p>  <p align="justify">THE GDL FUND<br></br>Investor Relations Contact:<br></br>Priscilla De Vargas<br></br>(914) 921-7761<br></br>pdevargas@gabelli.com</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgwODc1OSM3NzcyODU5IzIyNTkwNzc="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/Nzg2MTAxZjAtMmFhNC00ZDM3LWEyOWEtNTA3YzQ1ODcxYWM1LTEyNzA2MjctMjAyNi0wOC0xMi1lbg==/tiny/The-GDL-Fund.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/d81da3e2-3543-40ef-9ac1-51ce8e2fcb32"><img src="https://ml.globenewswire.com/media/d81da3e2-3543-40ef-9ac1-51ce8e2fcb32/small/gabelli-funds-png.png" border="0" width="150" height="40" alt="Primary Logo"></img></a></p>

The GDL Fund announced a $0.12 per-share cash distribution payable on September 23, 2026, with a record date of September 16. The payout is described as comprising roughly 10% net investment income, 64% net capital gains, and 26% return of capital, though allocations may vary and the Board can adjust distributions. Investors should not expect a guaranteed yield or total return.

News insight

The GDL Fund Declares Third Quarter Distribution of $0.12 Per Share

AI summary

Sentiment rationale

Key facts

Corporate Developments