GAMCO Trust Announces Continued Monthly Shareholder Distributions
Monthly Distributions Declared by GAMCO Global Gold Trust
RYE, N.Y. - The Board of Trustees of GAMCO Global Gold, Natural Resources & Income Trust (NYSE American: GGN) has announced an ongoing commitment to provide monthly cash distributions. A distribution of $0.03 per share has been approved and will be issued for the months ahead. This initiative is a reflection of the Trust's strategy to deliver value to its shareholders.
Distribution Schedule Breakdown
The forthcoming distribution schedule highlights the dates and specifics for October, November, and December:
October Payments
For October, the distribution will be recorded on the 17th, with payments made on the 24th, totaling a distribution of $0.03 per share.
November Payments
In November, shareholders can expect similar distributions. The record date will be the 13th, with payments following on the 20th, again at $0.03 per share.
December Payments
Lastly, December will follow suit with the record date set for the 12th and payments scheduled for the 19th, maintaining the $0.03 per share distribution.
Monitoring Distribution Levels
Each quarter, the Board of Trustees thoroughly reviews potential distributions arising from income, realized capital gains, or capital available. The Trustees are committed to monitoring distribution levels in conjunction with the Fund's overall financial health and the prevailing market environment. It's crucial to remember that the established distribution rate should not be viewed as a definitive yield or total return on investment.
Understanding the Nature of Distributions
Due to the variable nature of the Trust's distributions, shareholders should be aware that modifications may occur at the Board's discretion. This reflects the fluctuating income that influences distribution rates. It's important for shareholders not to derive conclusions on investment performance based solely on these distribution amounts.
Tax Considerations on Distributions
Distributions will encompass short-term capital gains and ordinary income, among other factors, allocated on a pro-rata basis to all common shareholders throughout the year. Notably, the Fund will utilize capital loss carryforwards to provide tax advantages on these distributions. As such, the distribution components are communicated to shareholders via notifications accompanying the distributions.
Investor Engagement
For prospective investors, understanding the investment objectives, risks, charges, and expenses associated with the GAMCO Global Gold Trust is essential before making decisions. For inquiries about the Fund's distribution policy or operational aspects, reach out to:
Molly Marion
(914) 921-5681
About the GAMCO Global Gold, Natural Resources & Income Trust
The GAMCO Global Gold, Natural Resources & Income Trust, classified as a non-diversified, closed-end management investment company, boasts a significant net asset total of $801 million. The primary focus of the Fund is to deliver a robust level of current income primarily through investments in equity securities within the gold and natural resources sectors. Additionally, the Trust employs a strategy of writing covered call options to enhance income. Management responsibilities are held by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).
Frequently Asked Questions
What is the current distribution amount declared by the Fund?
The Fund has declared a monthly cash distribution of $0.03 per share.
When are the upcoming distribution payments scheduled?
Distribution payments for October, November, and December are scheduled for the 24th, 20th, and 19th, respectively.
How does the Fund determine its distribution levels?
The Board of Trustees reviews the Fund's income and capital availability each quarter to determine distribution levels.
Can the distribution rate change over time?
Yes, the distribution rate is subject to modification by the Fund's Board of Trustees based on market conditions and income fluctuations.
Who should investors contact for more information regarding the Fund?
Interested parties can contact Molly Marion at (914) 921-5681 for more details about the Fund and its policies.
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