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The Gabelli Multimedia Trust Inc. (GGT) is a non-diversified closed-end management investment company with a primary investment objective of long-term capital growth and a secondary objective of income. Under regular market conditions, the Trust invests a significant portion of its assets in common stocks and other securities of companies operating in the telecommunications, media, publishing, and entertainment industries. These include convertible securities, preferred stocks, options, and warrants.
Founded by Mario J. Gabelli, the Trust is managed by GAMCO Investors, Inc., a reputable provider of investment advisory services to both open and closed-end funds. Established in 1977, GAMCO has earned recognition for its research-intensive approach to equity investing and its proprietary Private Market Value (PMV) with a Catalyst™ stock selection strategy. As of December 31, 2016, GAMCO managed $39.7 billion in assets under management (AUM), with 95% invested in equities.
The Trust leverages the deep industry insights and research capabilities of GAMCO Asset Management Inc. and Gabelli Funds, LLC. These registered investment advisers manage institutional and private wealth, as well as funds. G.Distributors, LLC, acts as the underwriter and distributor for their open-end funds. The Trust’s well-rounded approach allows it to proficiently navigate the dynamic sectors it invests in, aiming for substantial returns over the long term.
For information, contact Carter Austin at (914) 921-5475 or Laurissa Martire at (914) 921-5399.
The Gabelli Multimedia Trust (NYSE:GGT) Board has reaffirmed its 10% distribution policy and declared a $0.22 per share cash distribution for Q4 2024, payable December 20 to shareholders of record on December 13. The total distributions for 2024 would amount to $0.88 per share. The Board chose to distribute $0.52 more than required by the policy, based on average NAV calculations. The Fund's NAV per share has fluctuated between $3.32 and $3.73 during 2024. The distribution may be treated as long-term capital gain or qualified dividend income for tax purposes.
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.
The Gabelli Multimedia Trust Inc. (NYSE:GGT) has successfully concluded its transferable rights offering, raising approximately $24 million in gross proceeds. The Fund will issue about 4.8 million shares of common stock as a result. Shareholders of record as of June 28, 2024, received one transferable right for each share held, with four rights and $5.00 required to purchase one new share. The offering expired on July 22, 2024, and new shares will be issued around July 25, 2024.
The Gabelli Multimedia Trust is a closed-end management investment company with $174 million in total net assets, focused on long-term capital growth. It is managed by Gabelli Funds, , a subsidiary of GAMCO Investors, Inc.
The Gabelli Multimedia Trust (NYSE: GGT) has announced that its transferrable rights offering to acquire additional shares of common stock will expire on July 22, 2024 at 5:00 PM Eastern Time. Key points of the offering include:
- Shareholders received one transferable right for each share held on June 28, 2024
- Four rights plus $5.00 are required to purchase one additional share
- Over-subscription privilege available for fully exercising shareholders
- Rights trade on NYSE under GGT RT
- The Fund encourages shareholders to take action this week
The Gabelli Multimedia Trust is a closed-end management investment company with $175 million in total net assets, managed by Gabelli Funds,
The Board of Directors of Gabelli Multimedia Trust (NYSE: GGT) has approved a transferable rights offering for common shareholders to acquire additional shares. Shareholders will receive one Right per share held as of the record date, June 28, 2024. Four Rights plus $5.00 will entitle the holder to purchase one additional share. The Rights are tradable and will begin trading on the NYSE on June 27, 2024. The Offering expires on July 22, 2024. Shareholders fully exercising their Rights can subscribe for additional shares subject to limitations. The Fund manages $166 million in total net assets and is overseen by Gabelli Funds, , a GAMCO Investors subsidiary.
The Gabelli Multimedia Trust (NYSE:GGT) reaffirmed its 10% distribution policy with a $0.22 per share cash distribution for the second quarter of 2024. This distribution will be paid on June 21, 2024, to shareholders of record on June 13, 2024.
The Fund aims to distribute a minimum of 10% of its average net asset value annually, based on the average values of the last four quarters. The Board of Directors reviews the distribution each quarter, considering the Fund's net asset value and market conditions. Distributions can be modified at any time and may comprise long-term capital gains, qualified dividend income, or a return of capital.
For 2024, all distributions are currently deemed to be from paid-in capital. This status may affect tax treatments for shareholders, who will receive detailed tax information in early 2025. The Board continues to explore strategic opportunities in the equity markets.
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