GAMCO Global Gold Trust Announces Monthly Distributions
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Monthly Distributions Declared by GAMCO Global Gold Trust
The Board of Trustees of GAMCO Global Gold, Natural Resources & Income Trust (NYSE American: GGN) has confirmed the continuation of its monthly cash distribution policy. Recently, cash distributions of $0.03 per share have been declared for October, November, and December, ensuring that shareholders will receive consistent returns during these months.
Distribution Details and Expectations
Each month, the Fund is set to distribute cash to its shareholders, amounting to $0.03 per share for the remaining months of the year. As the Fund assesses market conditions and performance, there's potential for distributions to exceed earnings, particularly as these payments may predominantly consist of returns of capital for tax purposes.
Upcoming Distribution Schedule
The scheduled distributions and significant dates are as follows:
Distribution Month
- October - Record Date: October 17 | Payable Date: October 24
- November - Record Date: November 14 | Payable Date: November 21
- December - Record Date: December 13 | Payable Date: December 20
Monitoring Distribution Levels
The Board of Trustees is committed to a quarterly review of the Fund's potential distribution amounts based on income, realized capital gains, or available capital. They will continually evaluate distribution levels in light of the Fund’s net asset value and prevailing financial market environments. Shareholders are advised that the distribution rate should not be viewed as the dividend yield or total return on their investment in the Fund.
Fluctuation in Distributions
The potential for adjustments in the current monthly distributions is inherent and can occur at any time based on the Board’s evaluations. Furthermore, as the Fund's income may vary, no assurance can be granted regarding the constancy of distributions at specific rates or frequencies. Investors are encouraged to analyze the Fund's investment performance without relying solely on the distribution amounts.
Tax Considerations and Shareholder Notification
All distributions—whether they are short-term capital gains, qualified dividends, or return of capital—will be distributed proportionally among common shareholders. As there are no capital loss carryforwards for book purposes, the Fund may distribute short-term gains resulting from option premiums, which might not be taxable in the current fiscal year due to available capital loss carryforwards. Shareholders will receive detailed notifications regarding the distribution components and tax implications via Form 1099-DIV early the following year.
Contact Information for Investors
Investors are encouraged to explore the Fund's investment objectives, associated risks, and the specifics of its distribution policies before making any decisions. For further inquiries related to the Fund's operations or to discuss investment strategies, please contact:
Molly Marion
(914) 921-5681
Understanding the Fund's Operations
The GAMCO Global Gold, Natural Resources & Income Trust operates as a non-diversified, closed-end investment company that manages approximately $725 million in net assets. Its primary investment strategy centers on generating a significant level of current income through investments primarily in equities of gold and natural resource companies. The Fund utilizes a strategy involving writing covered call options on equity securities within its portfolio to enhance income.
Involvement of Gabelli Funds, LLC
The Fund is overseen by Gabelli Funds, LLC, an esteemed subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI), noted for its focus on value-oriented investment strategies that empower shareholders and promote sustainable income. As such, the Fund's NAV per share is subject to fluctuations based on the market values of the portfolio securities it holds.
Frequently Asked Questions
What is the declared monthly distribution amount for GGN?
The declared monthly distribution amount for GAMCO Global Gold, Natural Resources & Income Trust is $0.03 per share.
When will the upcoming distributions be paid?
The upcoming distributions are scheduled for October 24, November 21, and December 20.
How does the Board decide on distributions?
The Board reviews potential distributions quarterly based on income, capital gains, and available resources while considering market conditions.
What type of returns can shareholders expect?
Shareholders can expect returns that may primarily include a return of capital for tax purposes, potentially exceeding the Fund's earnings.
Who can shareholders contact for more information?
Shareholders may contact Molly Marion at (914) 921-5681 for further details regarding the Fund's investment strategies and distributions.
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