Gabelli Multimedia Trust 10% Distribution Policy Reaffirmed and Declared Third Quarter Distribution of $0.22 Per Share
The Gabelli Multimedia Trust Inc. (NYSE:GGT) has reaffirmed its 10% distribution policy and declared a $0.22 per share cash distribution for the third quarter, payable on September 23, 2024. The distribution is based on the average net asset value (NAV) of the Fund, with the current NAV at $3.75 per share. The Board of Directors will continue to monitor the distribution level, considering market conditions and the Fund's NAV.
The Fund aims to pay a minimum annual distribution of 10% of its average NAV or an amount sufficient to meet IRS requirements for regulated investment companies. Distributions may be treated as long-term capital gain or qualified dividend income, subject to applicable tax rates. The Fund's distribution policy is subject to modification, and there's no guarantee of continuation.
Il Gabelli Multimedia Trust Inc. (NYSE:GGT) ha riassicurato la sua politica di distribuzione del 10% e ha dichiarato una distribuzione in contante di $0.22 per azione per il terzo trimestre, che sar脿 pagata il 23 settembre 2024. La distribuzione 猫 basata sul valore netto medio delle attivit脿 (NAV) del Fondo, con l'attuale NAV a $3.75 per azione. Il Consiglio di Amministrazione continuer脿 a monitorare il livello di distribuzione, considerando le condizioni di mercato e il NAV del Fondo.
Il Fondo ha l'obiettivo di pagare una distribuzione annuale minima del 10% del suo NAV medio o un importo sufficiente a soddisfare i requisiti dell'IRS per le societ脿 di investimento regolate. Le distribuzioni potrebbero essere trattate come guadagno di capitale a lungo termine o reddito da dividendi qualificati, soggetti alle aliquote fiscali applicabili. La politica di distribuzione del Fondo 猫 soggetta a modifiche e non c'猫 alcuna garanzia di continuazione.
El Gabelli Multimedia Trust Inc. (NYSE:GGT) ha reafirmado su pol铆tica de distribuci贸n del 10% y ha declarado una distribuci贸n en efectivo de $0.22 por acci贸n para el tercer trimestre, pagadera el 23 de septiembre de 2024. La distribuci贸n se basa en el valor neto de los activos (NAV) promedio del Fondo, con el NAV actual en $3.75 por acci贸n. La Junta Directiva continuar谩 monitoreando el nivel de distribuci贸n, considerando las condiciones del mercado y el NAV del Fondo.
El Fondo tiene como objetivo pagar una distribuci贸n anual m铆nima del 10% de su NAV promedio o un monto suficiente para cumplir con los requisitos del IRS para las compa帽铆as de inversi贸n reguladas. Las distribuciones pueden ser tratadas como ganancias de capital a largo plazo o ingresos por dividendos calificados, sujetos a las tasas impositivas aplicables. La pol铆tica de distribuci贸n del Fondo est谩 sujeta a modificaciones y no hay garant铆a de continuidad.
臧�氩Μ 氅�韹半霐旍柎 鞁犿儊 欤检嫕須岇偓(Gabelli Multimedia Trust Inc.)(NYSE:GGT)電� 10% 攵勲鞍 鞝曥眳鞚� 鞛檿鞚疙枅鞀惦媹雼� 攴鸽Μ瓿� 欤茧嫻 $0.22 順勱笀 攵勲鞍毳� 2024雲� 9鞗� 23鞚检棎 歆�旮夗晿旮半 靹犾柛頄堨姷雼堧嫟. 鞚� 攵勲鞍電� 韼�霌滌潣 韽夑窢 靾滌瀽靷瓣皜旃�(NAV)毳� 旮办鞙茧 頃橃棳 順勳灛 NAV電� 欤茧嫻 $3.75鞛呺媹雼�. 鞚挫偓須岆姅 鞁滌灔 靸來櫓瓿� 韼�霌滌潣 NAV毳� 瓿犽牑頃橃棳 攵勲鞍 靾橃鞚� 瓿勳啀 氇媹韯半頃� 瓴冹瀰雼堧嫟.
韼赌霌滊姅 韽夑窢 NAV鞚� 10% 斓滌唽 鞐瓣皠 攵勲鞍毳� 歆�旮夗晿電� 瓴冹潉 氇╉憸搿� 頃╇媹雼� 霕愲姅 攴滌牅 韴瀽 須岇偓鞐� 雽�頃� IRS 鞖旉惮 靷暛鞚� 於╈”頃橁赴鞐� 於╇秳頃� 旮堨暋鞛呺媹雼�. 攵勲鞍電� 鞛リ赴 鞛愲掣 靻岆摑 霕愲姅 鞝侁博 氚半嫻 靻岆摑鞙茧 臧勳＜霅� 靾� 鞛堨溂氅�, 鞚挫棎 霐半澕 鞝侅毄霅橂姅 靹胳湪鞚� 鞝侅毄霅╇媹雼�. 韼�霌滌潣 攵勲鞍 鞝曥眳鞚� 靾橃爼霅� 靾� 鞛堨溂氅�, 歆�靻嶋悹 瓴冹澊霛茧姅 氤挫灔鞚� 鞐嗢姷雼堧嫟.
La Gabelli Multimedia Trust Inc. (NYSE:GGT) a r茅affirm茅 sa politique de distribution de 10% et a d茅clar茅 une distribution en esp猫ces de 0,22 $ par action pour le troisi猫me trimestre, payable le 23 septembre 2024. La distribution est bas茅e sur la valeur nette moyenne des actifs (NAV) du Fonds, avec une NAV actuelle de 3,75 $ par action. Le Conseil d'administration continuera de surveiller le niveau de distribution, en tenant compte des conditions du march茅 et de la NAV du Fonds.
Le Fonds a pour objectif de verser une distribution annuelle minimale de 10% de sa NAV moyenne ou un montant suffisant pour r茅pondre aux exigences de l'IRS pour les soci茅t茅s d'investissement r茅glement茅es. Les distributions peuvent 锚tre consid茅r茅es comme des gains en capital 脿 long terme ou des revenus de dividendes qualifi茅s, soumis aux taux d'imposition applicables. La politique de distribution du Fonds est susceptible d'锚tre modifi茅e et il n'y a aucune garantie de continuit茅.
Der Gabelli Multimedia Trust Inc. (NYSE:GGT) hat seine 10%-Verteilungspolitik bekr盲ftigt und eine Baraussch眉ttung von $0.22 pro Aktie f眉r das dritte Quartal erkl盲rt, die am 23. September 2024 zahlbar ist. Die Aussch眉ttung basiert auf dem durchschnittlichen Nettoinventarwert (NAV) des Fonds, wobei der aktuelle NAV bei $3.75 pro Aktie liegt. Der Vorstand wird das Ausma脽 der Aussch眉ttung weiterhin 眉berpr眉fen, wobei die Marktbedingungen und der NAV des Fonds ber眉cksichtigt werden.
Der Fonds hat das Ziel, eine minimale j盲hrliche Aussch眉ttung von 10% seines durchschnittlichen NAV oder einen Betrag zu zahlen, der ausreicht, um die Anforderungen des IRS f眉r regulierte Investmentgesellschaften zu erf眉llen. Aussch眉ttungen k枚nnen als langfristige Kapitalgewinne oder qualifizierte Dividenden behandelt werden, die den geltenden Steuers盲tzen unterliegen. Die Verteilungspolitik des Fonds kann ge盲ndert werden und es gibt keine Garantie f眉r eine Fortsetzung.
- Reaffirmation of 10% distribution policy
- Declared $0.22 per share cash distribution for Q3 2024
- Current net asset value of $3.75 per share
- Distribution may be deemed a return of capital if Fund's earnings are insufficient
- Potential tax implications for shareholders, including 3.8% Medicare surcharge for some investors
Insights
The reaffirmation of Gabelli Multimedia Trust's 10% distribution policy and declaration of a
Investors should be cautious about the potential for return of capital in these distributions, which could erode their investment over time. The fund's statement that all 2024 distributions are currently deemed 100% from paid-in capital is a red flag, indicating that the fund may not be generating enough income or capital gains to cover its distributions. This situation could lead to NAV erosion if it persists, potentially impacting long-term returns for shareholders.
The tax implications of Gabelli Multimedia Trust's distribution policy are noteworthy for investors. The potential classification of distributions as long-term capital gains or qualified dividend income, subject to a maximum
Distributions classified as return of capital are not immediately taxable but reduce the shareholder's cost basis. This can lead to higher capital gains taxes when the shares are eventually sold. Additionally, the
RYE, N.Y., Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT) (the 鈥淔und鈥�) reaffirmed and satisfied its
We note that the minimum annual distribution of
The Board of Directors will continue to monitor the Fund鈥檚 distribution level, taking into consideration the Fund鈥檚 net asset value and the current financial market environment.
The Fund intends to pay a minimum annual distribution of
All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently
If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) 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鈥檚 earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder鈥檚 original investment, it is generally not taxable and would be treated as a reduction in the shareholder鈥檚 cost basis.
Long-term capital gains, qualified dividend income, investment company taxable income, and return of 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 currently available, each of the distributions paid to common shareholders in 2024 would be deemed
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund鈥檚 distribution policy and other information about the Fund, call:
Carter Austin
(914) 921-5475
About The Gabelli Multimedia Trust
The Gabelli Multimedia Trust Inc. is a non-diversified, closed-end management investment company with
NYSE: GGT
CUSIP 鈥� 36239Q109
Investor Relations Contact:
Carter Austin
(914) 921-5475
caustin@gabelli.com
FAQ
What is the Q3 2024 distribution amount for Gabelli Multimedia Trust (GGT)?
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