Gabelli Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.14 Per Share

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 each of January, February and March 2012.

The distribution for January 2012 will be payable on January 24, 2012 to common shareholders of record on January 17, 2012.

The distribution for February 2012 will be payable on February 22, 2012 to common shareholders of record on February 14, 2012.

The distribution for March 2012 will be payable on March 23, 2012 to common shareholders of record on March 16, 2012.

Each quarter, the Board of Trustees reviews the amount of any potential distribution and 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 gains) to satisfy 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. Under federal tax regulations, some or all of the return of capital distributed by the Fund may be taxable as ordinary income in certain circumstances. This may occur when the Fund has a capital loss carry forward, net capital gains are realized in a fiscal year and distributions are made in excess of investment company taxable income.

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 November 15, 2011, the November distribution to common shareholders would include approximately 93% from net capital gains and 7% from paid-in capital on a book basis and each of the prior distributions to common shareholders paid in 2011 would include approximately 2% from net investment income, 91% from net capital gains and 7% 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 2011 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 2011 distributions in early 2012 via Form 1099-DIV.

The Gabelli Global Gold, Natural Resources & Income Trust is a non-diversified, closed-end management investment company with $1.2 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. (NYSE:GBL), which is a publicly traded NYSE listed company.

GAMCO Global Gold Natura... (AMEX:GGN)
Historical Stock Chart
From Jun 2024 to Jul 2024