Gabelli Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.14 Per Share
May 27 2008 - 3:37PM
Business Wire
The Board of Trustees of The Gabelli Global Gold, Natural Resources
& Income Trust (Amex:GGN) (the �Fund�) declared monthly cash
distributions of $0.14 per share for July, August, and September
2008. The distribution for July 2008 will be payable on July 25,
2008 to common shareholders of record on July 17, 2008. The
distribution for August 2008 will be payable on August 25, 2008 to
common shareholders of record on August 15, 2008. The distribution
for September 2008 will be payable on September 24, 2008 to common
shareholders of record on September 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 May 27, 2008, the date of this press release,
each of the distributions paid in 2008 would include approximately
92% from net capital gains and 8% 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 $708
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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