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 sarà pagata il 23 settembre 2024. La distribuzione è basata sul valore netto medio delle attività (NAV) del Fondo, con l'attuale NAV a $3.75 per azione. Il Consiglio di Amministrazione continuerà 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 società 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 è soggetta a modifiche e non c'è alcuna garanzia di continuazione.
El Gabelli Multimedia Trust Inc. (NYSE:GGT) ha reafirmado su política de distribución del 10% y ha declarado una distribución en efectivo de $0.22 por acción para el tercer trimestre, pagadera el 23 de septiembre de 2024. La distribución se basa en el valor neto de los activos (NAV) promedio del Fondo, con el NAV actual en $3.75 por acción. La Junta Directiva continuará monitoreando el nivel de distribución, considerando las condiciones del mercado y el NAV del Fondo.
El Fondo tiene como objetivo pagar una distribución anual mínima del 10% de su NAV promedio o un monto suficiente para cumplir con los requisitos del IRS para las compañías de inversión 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 política de distribución del Fondo está sujeta a modificaciones y no hay garantía de continuidad.
가벨리 멀티미디어 신탁 주식회사(Gabelli Multimedia Trust Inc.)(NYSE:GGT)는 10% 분배 정책을 재확인했습니다 그리고 주당 $0.22 현금 분배를 2024년 9월 23일에 지급하기로 선언했습니다. 이 분배는 펀드의 평균 순자산가치(NAV)를 기준으로 하여 현재 NAV는 주당 $3.75입니다. 이사회는 시장 상황과 펀드의 NAV를 고려하여 분배 수준을 계속 모니터링할 것입니다.
펀드는 평균 NAV의 10% 최소 연간 분배를 지급하는 것을 목표로 합니다 또는 규제 투자 회사에 대한 IRS 요구 사항을 충족하기에 충분한 금액입니다. 분배는 장기 자본 소득 또는 적격 배당 소득으로 간주될 수 있으며, 이에 따라 적용되는 세율이 적용됩니다. 펀드의 분배 정책은 수정될 수 있으며, 지속될 것이라는 보장은 없습니다.
La Gabelli Multimedia Trust Inc. (NYSE:GGT) a réaffirmé sa politique de distribution de 10% et a déclaré une distribution en espèces de 0,22 $ par action pour le troisième trimestre, payable le 23 septembre 2024. La distribution est basée 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 marché 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 répondre aux exigences de l'IRS pour les sociétés d'investissement réglementées. Les distributions peuvent être considérées comme des gains en capital à long terme ou des revenus de dividendes qualifiés, soumis aux taux d'imposition applicables. La politique de distribution du Fonds est susceptible d'être modifiée et il n'y a aucune garantie de continuité.
Der Gabelli Multimedia Trust Inc. (NYSE:GGT) hat seine 10%-Verteilungspolitik bekräftigt und eine Barausschüttung von $0.22 pro Aktie für das dritte Quartal erklärt, die am 23. September 2024 zahlbar ist. Die Ausschüttung basiert auf dem durchschnittlichen Nettoinventarwert (NAV) des Fonds, wobei der aktuelle NAV bei $3.75 pro Aktie liegt. Der Vorstand wird das Ausmaß der Ausschüttung weiterhin überprüfen, wobei die Marktbedingungen und der NAV des Fonds berücksichtigt werden.
Der Fonds hat das Ziel, eine minimale jährliche Ausschüttung von 10% seines durchschnittlichen NAV oder einen Betrag zu zahlen, der ausreicht, um die Anforderungen des IRS für regulierte Investmentgesellschaften zu erfüllen. Ausschüttungen können als langfristige Kapitalgewinne oder qualifizierte Dividenden behandelt werden, die den geltenden Steuersätzen unterliegen. Die Verteilungspolitik des Fonds kann geändert werden und es gibt keine Garantie für 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 “Fund”) reaffirmed and satisfied its
We note that the minimum annual distribution of
The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s 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’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 would be treated as a reduction in the shareholder’s 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’s 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 – 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)?
When is the record date for GGT's Q3 2024 distribution?
What is the current net asset value (NAV) of Gabelli Multimedia Trust (GGT)?
How is Gabelli Multimedia Trust's (GGT) distribution policy determined?
