Gamco Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.03 Per Share
14 Febbraio 2024 - 2:08PM
The Board of Trustees of GAMCO Global Gold, Natural Resources &
Income Trust (NYSE American:GGN) (the “Fund”) approved the
continuation of its policy of paying monthly cash distributions.
The Board of Trustees declared cash distributions of $0.03 per
share for each of April, May, and June 2024. Based on current
dynamics, the Fund may make distributions in excess of the Fund’s
earnings. It is currently expected that distributions to common
shareholders in 2024 will primarily constitute a return of capital
for tax purposes.
Distribution Month |
Record Date |
Payable Date |
Distribution Per Share |
April |
April 16, 2024 |
April 23, 2024 |
$0.03 |
May |
May 16,
2024 |
May 23, 2024 |
$0.03 |
June |
June
13, 2024 |
June 21, 2024 |
$0.03 |
Each quarter, the Board of Trustees reviews the
amount of any potential distribution from 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 distribution rate should not be considered the
dividend yield or total return on an investment in the Fund.
Because the Fund’s current monthly distributions
are subject to modification by the Board of Trustees at any time
and the Fund’s income will fluctuate, there can be no assurance
that the Fund will pay distributions at a particular rate or
frequency. Shareholders should not draw any conclusions about the
Fund’s investment performance from the amount of the current
distribution.
Short-term capital gains, qualified dividend
income, ordinary income, and return of capital, if any, will be
allocated on a pro-rata basis to all distributions to common
shareholders for the year. There are no capital loss carryforwards
for book purposes. Therefore the Fund, on a book basis, may be
distributing short term gains generated from option premiums that
will not be taxable in 2024 because of the capital loss
carryforwards available on a tax basis. 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 2024 will be made after year end
and can vary from the monthly 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 2024 distributions in
early 2025 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:
Molly Marion(914) 921-5681
The Fund’s NAV per share will fluctuate with
changes in the market value of the Fund’s portfolio securities.
Stocks are subject to market, economic, and business risks that
cause their prices to fluctuate. Investors acquire shares of the
Fund on a securities exchange at market value, which fluctuates
according to the dynamics of supply and demand. When Fund shares
are sold, they may be worth more or less than their original cost.
Consequently, you can lose money by investing in the Fund.
Covered Call and Other Option Transaction Risks.
There are several risks associated with writing covered calls and
entering into other types of option transactions. For example,
there are significant differences between the securities and
options markets that could result in an imperfect correlation
between these markets, resulting in a given transaction not
achieving its objectives. In addition, a decision as to whether,
when, and how to use covered call options involves the exercise of
skill and judgment, and even a well-conceived transaction may be
unsuccessful because of market behavior or unexpected events. As
the writer of a covered call option, the Fund forgoes, during the
option’s life, the opportunity to profit from increases in the
market value of the security covering the call option above the
exercise price of the call option, but has retained the risk of
loss should the price of the underlying security decline.
About The GAMCO Global Gold, Natural
Resources & Income TrustThe GAMCO Global Gold, Natural
Resources & Income Trust is a non-diversified, closed-end
management investment company with $639 million in total net assets
whose primary investment objective is to provide a high level of
current income. The Fund invests primarily in equity securities of
gold and natural resources companies and intends to earn income
primarily through a strategy of writing (selling) primarily covered
call options on equity securities in its portfolio. The Fund is
managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors,
Inc. (OTCQX: GAMI).
NYSE American – GGNCUSIP – 36465A109
GAMCO GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUSTInvestor
Relations Contact: Molly Marion(914)
921-5681mmarion@gabelli.com
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