Gamco Global Gold, Natural Resources & Income Trust by Gabelli Continues Monthly Distributions, Decl
Gamco Global Gold, Natural Resources & Income Trust by Gabelli Continues Monthly Distributions,
Declaring Distributions of $0.12 Per Share
RYE, N.Y.--(BUSINESS WIRE)-- The Board of Trustees of the GAMCO Global Gold, Natural Resources & Income Trust by Gabelli (NYSE MKT:GGN) (the "Fund") approved the continuation of its policy of paying monthly cash distributions. The Board of Trustees declared cash distributions of $0.12 per common share for each of April, May, and June 2013.
The distribution for April 2013 will be payable on April 23, 2013 to common shareholders of record on April 16, 2013.
The distribution for May 2013 will be payable on May 23, 2013 to common shareholders of record on May 16, 2013.
The distribution for June 2013 will be payable on June 21, 2013 to common shareholders of record on June 14, 2013.
Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, capital gain, or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
The Fund currently intends to make monthly cash distributions of all or a portion of its investment company taxable income (which includes ordinary income and realized net short-term capital gains) to common shareholders. The Fund also intends to make annual distributions of its realized net long-term capital gains, if any. A portion of the distribution may be a return of capital. Various factors will affect the level of the Fund's income, such as its asset mix and use of covered call strategies. To permit the Fund to maintain more stable distributions, the Fund may from time to time distribute more or less than the entire amount of income earned in a particular period. Because the Fund's current monthly distributions are subject to modification by the Board of Trustees at any time and the Fund's income will fluctuate, there can be no assurance that the Fund will pay distributions at a particular rate or frequency.
If the Fund does not generate sufficient earnings (dividends and interest income and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund's earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder's original investment, it is generally not taxable and is treated as a reduction in the shareholder's cost basis.
Short-term capital gains, qualified dividend income, ordinary income, and paid-in capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund as of February 13, 2013, each of the distributions paid to common shareholders in 2013 would include approximately 52% from net capital gains and 48% from paid-in capital on a book basis. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2013 will be made after year end and can vary from the monthly estimates. All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2013 distributions in early 2014 via Form 1099-DIV.
The GAMCO Global Gold, Natural Resources & Income Trust by Gabelli is a non-diversified, closed-end management investment company with $1.3 billion in total net assets whose primary investment objective is to provide a high level of current income. The Fund invests primarily in equity securities of gold and natural resources companies and intends to earn income primarily through a strategy of writing (selling) primarily covered call options on equity securities in its portfolio. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYS: GBL) , which is a publicly traded NYSE listed company.
GAMCO Global Gold, Natural Resources & Income Trust
Molly Marion/Laurissa Martire, (914) 921-5070
KEYWORDS: United States North America New York
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