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Gabelli Healthcare & WellnessRx Trust Declares Fourth Quarter Distribution of $0.15 Per Share
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
The Board of Trustees of the Gabelli Healthcare & Wellness Trust (NYSE:GRX) has declared a cash distribution of $0.15 per share, scheduled for December 16, 2022, to shareholders on record as of December 9, 2022. Future distributions will be reviewed quarterly and may change based on the Fund's earnings and capital. The Fund's total net assets are approximately $283 million, and it aims for long-term capital growth. The distribution policy may be modified at any time and is subject to the Internal Revenue Code's minimum distribution requirements.
Positive
Declared a cash distribution of $0.15 per share, enhancing shareholder returns.
Significant total net assets of approximately $283 million indicate a solid financial base.
The distribution policy may offer additional income through adjusting distributions at year-end.
Negative
The distribution amount may change each quarter, introducing uncertainty for shareholders.
If the Fund's earnings are insufficient, distributions may be characterized as a return of capital, which could affect future investments.
RYE, N.Y.--(BUSINESS WIRE)--
The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust (NYSE:GRX) (the “Fund”) declared a $0.15 per share cash distribution payable on December 16, 2022 to common shareholders of record on December 9, 2022.
The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees. The Board of Trustees may change the amount of the quarterly distribution at any time. In addition to the quarterly distributions, and in accordance with the minimum distribution requirements of the Internal Revenue Code for regulated investment companies, the Fund may pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the quarterly distributions for that year.
Each quarter, the Board of Trustees reviews the amount of any potential distribution and the income, realized 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 Fund’s distribution policy is subject to modification or termination by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
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 up to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.
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 2022 would be deemed 100% from paid-in capital on a book basis. The source of the distributions will likely change due to investment activity through the end of the calendar year and this information does not represent what should be reported for tax purposes. 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 2022 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2022 distributions in early 2023 via Form 1099-DIV.
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:
Bethany Uhlein (914) 921-5546
About The Gabelli Healthcare & WellnessRx Trust
The Gabelli Healthcare & WellnessRx Trust is a diversified, closed-end management investment company with $283 million in total net assets whose primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).
What is the cash distribution amount for GRX in December 2022?
The Gabelli Healthcare & Wellness Trust (NYSE:GRX) has declared a cash distribution of $0.15 per share payable on December 16, 2022.
When is the record date for the GRX cash distribution?
The record date for the cash distribution of GRX is December 9, 2022.
What are the total net assets of the Gabelli Healthcare & Wellness Trust?
The Gabelli Healthcare & Wellness Trust has total net assets of approximately $283 million.
How does the distribution policy for GRX work?
The distribution policy for GRX is reviewed quarterly, with the potential for adjustments based on earnings and market conditions.
What happens if the GRX does not generate enough earnings for its distributions?
If GRX does not generate sufficient earnings, the excess distributions may be classified as a return of capital, potentially impacting shareholder investment.
