Gamco Investors Inc Plans Quarterly Dividend of $0.02 (GBL)

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Gamco Investors Inc (NYSE:GBL) declared a quarterly dividend on Wednesday, November 7th, Wall Street Journal reports. Stockholders of record on Wednesday, January 2nd will be paid a dividend of 0.02 per share by the closed-end fund on Tuesday, January 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Monday, December 31st.

Gamco Investors has decreased its dividend by an average of 31.6% per year over the last three years and has increased its dividend every year for the last 6 years.

Shares of GBL stock traded up $0.32 during mid-day trading on Wednesday, reaching $20.63. The company’s stock had a trading volume of 23,170 shares, compared to its average volume of 21,291. Gamco Investors has a 12-month low of $19.53 and a 12-month high of $30.44. The company has a market cap of $583.28 million, a PE ratio of 7.40 and a beta of 1.13.

Gamco Investors (NYSE:GBL) last issued its earnings results on Tuesday, August 7th. The closed-end fund reported $1.39 EPS for the quarter. Gamco Investors had a net margin of 24.59% and a negative return on equity of 141.26%. The business had revenue of $87.19 million for the quarter.

Separately, TheStreet raised shares of Gamco Investors from a “d-” rating to a “c” rating in a research note on Wednesday, August 15th.

In other news, insider Diane Lapointe sold 3,996 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $26.15, for a total value of $104,495.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 80.97% of the company’s stock.

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About Gamco Investors

GAMCO Investors, Inc is a publicly owned holding investment manager. The firm also provides wealth management, investment advisory, institutional research, brokerage, dealer, underwriting, and distribution services to its clients. It provides its services to individuals including high net worth individuals, corporate pension and profit-sharing plans, foundations, endowments, jointly trust plans, municipalities, and investment companies.

Read More: Why Dividend Stocks May Be Right for You

Dividend History for Gamco Investors (NYSE:GBL)

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