Gabelli Equity Trust to Redeem Its Outstanding 5.875% Series D Cumulative Preferred Stock

RYE, N.Y.--(BUSINESS WIRE)--The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the “Fund”), has authorized the redemption of all remaining outstanding shares of the Fund’s 5.875% Series D Cumulative Preferred Stock (the “Series D Preferred”). The redemption date is December 26, 2019 (the “Redemption Date”), and the redemption price is $25.00 per Series D Preferred, which is equal to the liquidation preference of $25.00 per Series D Preferred. Series D Preferred shareholders of record on December 18, 2019 will receive the quarterly distribution of $0.3671875 per Series D Preferred on the payable date of December 26, 2019. Since the redemption date and the payable date for the quarterly distribution are both December 26, 2019, no accumulated, unpaid distributions will be included as a component of the redemption price.