- Gabelli Multimedia Trust (GGT, Financial) to initiate monthly distributions starting May 2025, maintaining an annual distribution rate of $0.88 per share.
- Scheduled payouts include $0.07 per share for the first two months and $0.08 for the third month of each quarter.
- Distributions in 2025 will be primarily sourced from paid-in capital, rather than earnings.
The Gabelli Multimedia Trust Inc. (GGT) has announced a strategic shift from quarterly to monthly distributions starting May 2025, while maintaining its annual distribution rate of $0.88 per share. This change aims to provide shareholders with more consistent cash flow and will see $0.07 per share distributed for the first two months of each quarter, and $0.08 in the third month.
The Fund has declared upcoming distributions of $0.14 per share (covering April and May) payable on May 22, 2025, and $0.08 per share payable on June 23, 2025. It is important to note that, according to current accounting records, 100% of these distributions appear to be sourced from paid-in capital rather than from investment income or capital gains. This indicates that shareholders are receiving a return of their original investment capital, not earnings generated from the Fund's portfolio.
Gabelli Multimedia Trust (GGT, Financial) will no longer rely on SEC exemptive relief, previously used to manage distribution frequency. Moving forward, the Fund intends to distribute taxable income monthly and realized long-term capital gains annually. The Board retains the flexibility to adjust the distribution policy to align with market conditions and Fund performance.
