Gabelli Healthcare & WellnessRx Trust Announces $0.15 Distribution
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Gabelli Healthcare & WellnessRx Trust Declares Distribution
The Board of Trustees of The Gabelli Healthcare & Wellness Trust (NYSE: GRX) declared a $0.15 per share cash distribution payable to common shareholders. This payment reflects the Trust’s ongoing commitment to delivering value to its investors.
Quarterly Distribution Overview
The Fund intends to pay a quarterly distribution amount that will be evaluated by the Board of Trustees each quarter. This approach is designed to align with the financial performance of the Fund, taking into account various factors including income, realized capital gains, and available capital at the time of distribution.
Potential Year-End Adjustments
In addition to the regular quarterly payments, the Fund may also issue an adjusting distribution in December. This distribution would encompass any additional income and net realized capital gains that exceed the quarterly distributions throughout the year, ensuring a comprehensive return for shareholders.
Monitoring Distribution Levels
The Board of Trustees regularly reviews the potential distributions relative to the Fund’s net asset value and the prevailing financial market conditions. This vigilant monitoring helps to ensure that the distribution levels are sustainable and beneficial to shareholders.
Impact of Fund Performance on Distributions
Investors should be aware that if the Fund does not generate sufficient earnings to cover the aggregate distributions in a given period, any excess distributed would be considered a return of capital. This return typically is not taxable and serves to reduce the investor's cost basis.
Understanding Distribution Components
Distributions to common shareholders in 2024 have been projected to include approximately 5% from net investment income, 88% from net capital gains, and 7% designated as a return of capital. Please note that these figures are provisional and will be finalised at the end of the year, ensuring that shareholders receive accurate tax information in a timely manner.
Tax Implications for Shareholders
It is essential for shareholders to understand how these distributions will be taxed. Individual shareholders with taxable accounts will receive notifications detailing the components and tax implications related to distributions via Form 1099-DIV in early the following year, aiding them in their tax planning efforts.
About The Gabelli Healthcare & Wellness Trust
The Gabelli Healthcare & Wellness Trust is a diversified, closed-end management investment company with total net assets exceeding $251 million. The primary objective of the Fund is aimed at generating long-term capital growth, which is crucial for investors seeking an increase in their portfolio value over time. The Fund is expertly managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc.
Contact Information for Investors
For further inquiries regarding the Fund’s distribution policy or additional information about The Gabelli Healthcare & Wellness Trust, investors can reach out to:
Bethany Uhlein
(914) 921-5546
buhlein@gabelli.com
Frequently Asked Questions
What is the declared distribution for the Gabelli Healthcare & Wellness Trust?
The declared distribution is $0.15 per share.
When will the distribution be payable?
The distribution is payable on a specified date to shareholders of record as of a recent date.
How are the distributions allocated for tax purposes?
Distributions may include components from net investment income, capital gains, and return of capital, and are allocated accordingly for tax reporting.
What happens if the Fund does not generate enough earnings?
If the earnings are insufficient to cover distributions, the excess would be deemed a return of capital, generally not subject to tax.
Who manages the Gabelli Healthcare & Wellness Trust?
The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc.
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