SmarterDividends
GDL

The GDL Fund

GDL

Financial Services · Asset Management · Stock · quarterly payer

$8.31

Overvalued · -30% Add to Portfolio

Forward Yield

5.78%

Annual Dividend

$0.48

Payout Ratio

71%

5-Yr Growth

0.9%

Ex-Date

Sep 16, 2026

Frequency

Quarterly

Key facts about GDL's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, The GDL Fund (GDL) has a forward dividend yield of 5.78%, based on an annual dividend of $0.48 per share and a share price of $8.31.
  • As of Oct 18, 2026, GDL's dividend safety grade from SmarterDividends is B (71 out of 100), which rates the dividend as safe.
  • GDL last cut its regular dividend in 2018.
  • GDL's most recent ex-dividend date was Sep 16, 2026, for a dividend of $0.12 per share.
  • As of Oct 18, 2026, GDL pays out 71% of its trailing 12-month earnings as dividends (its payout ratio).
  • GDL's dividend has grown at an average rate of 0.9% a year over the past five years.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for GDL is $5.80 per share, 30% below the $8.31 share price, so GDL screens as overvalued.
  • The GDL Fund (GDL) pays its dividend quarterly, 4 times a year.
  • The GDL Fund (GDL) has raised its regular dividend 2 times and cut it 3 times across the 78 payments on record since 2007. Its most recent change was a 20.0% increase to $0.120 per share, going ex-dividend on Jun 15, 2020. The last cut went ex-dividend on Dec 7, 2017.
Cite this page

SmarterDividends, "GDL Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/GDL

Summary

As of Oct 18, 2026, The GDL Fund (GDL) yields 5.78% ($0.48 a year per share) and has a dividend safety grade of B (71/100).

Is GDL a good dividend stock?

Yes, with caveats

The GDL Fund (GDL) pays a quarterly dividend yielding 5.78% ($0.48/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Advantages

    Risks

    • Cut its dividend in 2018
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    5.78%
    Payout Ratio
    71%
    Annual Dividend
    $0.48
    5-Yr Avg Growth
    0.9%
    Ex-Dividend Date
    Sep 16, 2026
    Years of Growth
    0
    Frequency
    quarterly
    Beta
    —
    Market Cap
    $89.3M
    P/E Ratio
    12.4
    5-Yr Total Return
    -6%
    52-Week Range
    $8.01 – $8.67
    Dividend Safety
    B · 71/100
    Ever Cut?
    Yes (2018)

    GDL dividend raises and cuts

    The GDL Fund (GDL) has raised its regular dividend 2 times and cut it 3 times across the 78 payments on record since 2007. Its most recent change was a 20.0% increase to $0.120 per share, going ex-dividend on Jun 15, 2020. The last cut went ex-dividend on Dec 7, 2017.

    Ex-dateChangeOld → newMove
    Jun 15, 2020Raise$0.100 → $0.120+20.0%
    Dec 7, 2017Cut$0.160 → $0.100−37.5%
    Jun 12, 2014Cut$0.320 → $0.160−50.0%
    Jun 12, 2009Raise$0.200 → $0.320+60.0%
    Mar 13, 2009Cut$0.400 → $0.200−50.0%
    Every GDL payment →Download every raise and cut (CSV)
    GDL ex-dividend date & scheduleNext ex-date Sep 16, 2026 · full ex-dividend historyView →GDL dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is GDL a good dividend stock?

    Yes, with caveats. The GDL Fund (GDL) pays a quarterly dividend yielding 5.78% ($0.48/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

    Is GDL undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, GDL's fair value is about $5.80 versus a $8.31 share price — so it looks overvalued (-30% vs. fair value).

    Is GDL's dividend safe?

    GDL has a dividend-safety grade of B (71/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2018, debt and yield-versus-history.

    What is GDL's fair value?

    Our blended fair-value estimate for GDL is about $5.80 per share, about 30% below the current $8.31 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is GDL a buy, hold, or sell?

    We don't issue formal ratings, but on the data GDL screens as "yes, with caveats" and overvalued. The GDL Fund (GDL) pays a quarterly dividend yielding 5.78% ($0.48/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

    Will GDL cut its dividend?

    GDL earns a dividend-safety grade of B (71/100), and has cut its dividend before (last in 2018). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does GDL pay a dividend?

    Yes. The GDL Fund pays a quarterly dividend of about $0.48 per share annually, a forward yield of roughly 5.78%.

    What is GDL's dividend yield?

    As of Oct 18, 2026, GDL's forward dividend yield is 5.78%, based on a $0.48 annual dividend and a $8.31 share price.

    What is GDL's dividend per share?

    As of Oct 18, 2026, GDL pays $0.48 per share per year, distributed on a quarterly basis.

    What is GDL's dividend payout ratio?

    As of Oct 18, 2026, GDL's payout ratio is 71% of trailing 12-month earnings — a moderate level that's generally sustainable.

    How many years has GDL grown its dividend?

    GDL does not currently have a long dividend-growth streak on record.

    When is the next GDL ex-dividend date?

    As of Oct 18, 2026, GDL's next ex-dividend date hasn't been announced. The most recent was Sep 16, 2026, for $0.12 per share.

    Income Calculator

    At $0.48 / yr per share

    Per payment (quarterly)$12.00
    Annual$48.00
    Monthly avg$4.00

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