Gabelli Global Gold, Natural Resources & Income Trust Continues Monthly Distributions of $0.14 Per Share
May 21 2009 - 9:47AM
Business Wire
The Board of Trustees of The Gabelli Global Gold, Natural
Resources & Income Trust (NYSE Amex:GGN) (the �Fund�) declared
monthly cash distributions of $0.14 per share for July, August, and
September 2009.
The distribution for July 2009 will be payable on July 24, 2009
to common shareholders of record on July 17, 2009.
The distribution for August 2009 will be payable on August 24,
2009 to common shareholders of record on August 17, 2009.
The distribution for September 2009 will be payable on September
23, 2009 to common shareholders of record on September 16,
2009.
Each quarter, the Board of Trustees reviews the amount of any
potential distribution and the income, capital gain, or capital
available. The Fund�s portfolio managers believe that attractive
investment opportunities are available in the current environment
and will seek to allocate the Fund�s capital accordingly. The Board
of Trustees will continue to monitor the Fund�s quarterly
distribution level, taking into consideration the Fund�s net asset
value and the financial market environment.
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.
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 May 14,
2009, each of the distributions paid in 2009 would include
approximately 100% from paid-in capital. After giving effect to the
distribution, the aggregate of the accumulated undistributed net
realized gains on the sale of securities and net unrealized
depreciation of portfolio securities is $50,931,461, of which
$50,282,819 represents net unrealized depreciation of portfolio
securities. 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 2009
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 2009 distributions in early 2010 via Form 1099-DIV.
The Gabelli Global Gold, Natural Resources & Income Trust is
a non-diversified, closed-end management investment company with
$358 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.
NYSE Amex � GGNCUSIP � 36244N109
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