The Gabelli Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.14 Per Share
March 05 2008 - 3:00PM
Business Wire
The Board of Trustees of The Gabelli Global Gold, Natural Resources
& Income Trust (Amex:GGN) declared monthly cash distributions
of $0.14 per share for April, May, and June 2008. The distribution
for April 2008 will be payable on April 24, 2008 to common
shareholders of record on April 16, 2008. The distribution for May
2008 will be payable on May 23, 2008 to common shareholders of
record on May 15, 2008. The distribution for June 2008 will be
payable on June 24, 2008 to common shareholders of record on June
16, 2008. Under the Fund�s distribution policy, the Fund pays a
distribution of $0.14 per share each month and, if necessary, an
adjusting distribution in December which includes any additional
income and net realized capital gains in excess of the monthly
distributions for that year to satisfy the minimum distribution
requirements of the Internal Revenue Code. Each quarter, the Board
of Trustees reviews the amount of any potential distribution and
the income, capital gain, or capital available. The Fund�s
distribution policy is subject to modification by the Board of
Trustees at any time. A portion of the distribution may be treated
as long-term capital gain and qualified dividend income for
individuals, each subject to the maximum federal income tax rate,
which is currently 15% in taxable accounts for individuals. If the
Fund does not generate earnings from dividends and interest
received and net realized capital gains 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 investment income
and net realized capital gains would be deemed a non-taxable return
of capital. Long-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 29, 2008, the date of this press release, each of the
distributions paid in 2008 would include approximately 94% from net
capital gains and 6% from paid-in capital. The estimated components
of each distribution are 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 2008 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 2008 distributions in early 2009 via Form
1099-DIV. The Gabelli Global Gold, Natural Resources & Income
Trust is a non-diversified, closed-end management investment
company with $668 million in total 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) covered call options on equity
securities in its portfolio. The Fund is managed by Gabelli Funds,
LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a
publicly traded NYSE listed company.
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