Gabelli Global Small and Mid Cap Value Trust Declares Additional Distribution of $0.07 Per Share
December 20 2016 - 6:05PM
Business Wire
The Board of Trustees of The Gabelli Global Small and Mid Cap
Value Trust (NYSE:GGZ) (the “Fund”) declared an additional $0.07
per share cash distribution payable on January 6, 2017 to common
shareholders of record on December 30, 2016.
This distribution is being made to minimize any Federal excise
tax on undistributed investment company taxable income. The
distribution will be included in 2016 income for shareholders
subject to income tax. This raises the total distribution for the
year to $0.12 per share.
Based on the accounting records of the Fund currently available,
each of the distributions paid to common shareholders in 2016 would
include approximately 58% from net investment income and 42% from
net capital gains on a book basis. These percentages do not
represent information for tax reporting purposes. 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). In addition,
certain U.S. shareholders who are individuals, estates, or trusts
and whose income exceeds certain thresholds will be required to pay
a 3.8% Medicare surcharge on their "net investment income," which
includes dividends received from the Fund and capital gains from
the sale or other disposition of shares of the Fund. The final
determination of the sources of all distributions in 2016 will be
made after year end and can vary from the above estimates.
Shareholders should not draw any conclusions about the Fund’s
investment performance from the amount of the current distribution.
All shareholders with taxable accounts will receive written
notification regarding the components and tax treatment for all
2016 distributions in early 2017 via Form 1099-DIV.
Investors should carefully consider the investment objectives,
risks, charges, and expenses of the Fund before investing. More
information regarding these and other information about the Fund is
available by calling 800-GABELLI (800-422-3554) or visiting
www.gabelli.com.
The Gabelli Global Small and Mid Cap Value Trust is a
diversified, closed-end management investment company with $128
million in total net assets whose primary investment objective is
to achieve long term capital growth of capital. Under normal market
conditions, the Fund will invest at least 80% of its total assets
in equity securities (such as common stock and preferred stock) of
companies with small or medium sized market capitalizations. The
Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO
Investors, Inc. (NYSE:GBL).
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For The Gabelli Global Small and Mid Cap Value TrustCamillo
Schmidt-ChiariWayne C. Pinsent, CFA914-921-5070
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