The Clough Global Dividend and Income Fund (NYSEAMERICAN:GLV) has declared a monthly dividend of $0.06 per share, marking a continued commitment to providing returns to its investors. This announcement was made on January 8, 2024, with the dividend scheduled for distribution to shareholders of record on February 18, 2024. Payments will be processed on February 27, 2024, reflecting an annualized dividend yield of 11.0%.
The ex-dividend date is set for February 18, 2024, meaning that investors must own shares before this date to qualify for the dividend payout.
Market Performance and Fund Overview
During mid-day trading on the day of the announcement, shares of the Clough Global Dividend and Income Fund rose by $0.07, reaching a price of $6.15. The trading volume for the day was 26,497 shares, slightly below the average volume of 29,079 shares. The fund’s performance over the last year has shown stability, with a 50-day moving average price of $6.04 and a 200-day moving average price of $5.88. Over this period, the stock has experienced a low of $4.88 and a high of $6.35.
The Clough Global Dividend and Income Fund operates as a closed-end management investment company, aiming to deliver a blend of high current income and potential long-term capital appreciation. The fund primarily invests in dividend-paying equity securities from companies in both developed and emerging markets. Furthermore, it diversifies its portfolio by allocating a portion of its assets to fixed-income instruments, including high-yield corporate bonds and preferred securities, to enhance income potential.
Founded in 2016, the fund is advised by Clough Capital Partners, L.P., an investment management firm located in Greenwood Village, Colorado. This strategic management approach underscores the fund’s objective to provide investors with robust income opportunities while navigating global markets.
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