GAMCO Investors (NYSE:GBL) subsidiary Gabelli Equity Income Fund announced today it is more than tripling its monthly distribution to investors from the previous $0.03 per share it paid to $0.10 per share beginning in June.

The May distribution will remain at $0.03 per share and will be paid on May 29 to shareholders of record as of May 28. The Gabelli Equity Income Fund is managed by Gabelli Funds and distributed by G.distributors, LLC, all subsidiaries of GAMCO. Gabelli cautions the distribution rate should not be considered as dividend yield or the total return from an investment in the fund.