Gabelli Go Anywhere Trust Series A Cumulative Preferred Shares Declares $0.50 Quarterly Dividend & Announces Intention to Red...
14 Maggio 2021 - 10:05PM
Business Wire
The Board of Trustees of The Gabelli Go Anywhere Trust (NYSE
American: GGO) (the “Fund”) declared a $0.50 per share cash
distribution payable on June 28, 2021 to Series A preferred
shareholders of record on June 21, 2021.
Commencing five years from the closing date of the offering
(September 15, 2016), and thereafter, to the extent permitted by
the Investment Company Act of 1940 (the “1940 Act”) and Delaware
law, the Fund intends, upon notice, to redeem the Series A
Preferred Shares at a price equal to the liquidation preference
($40.00) per share plus accumulated but unpaid distributions
through the date of redemption.
The Series A Preferred Shares trade on the NYSE American under
the symbol “GGO.A”. From and after the date of redemption, the
Series A Preferred Shares being redeemed will no longer be deemed
outstanding, dividends will cease to accumulate and all the rights
of the holders of the Series A Preferred Shares with respect to the
Series A Preferred Shares will cease.
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 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 to the Preferred Shareholders 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, and
investment company taxable income, if any, will be allocated on a
pro-rata basis to all distributions to preferred shareholders for
the year. Based on the accounting records of the Fund currently
available, the distributions paid to preferred shareholders in 2021
would include approximately 2% from net investment income and 98%
from net capital gains on a book basis. This does not represent
information for tax reporting purposes. This does not represent
information for tax reporting 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 2021 will be made after year end
and can vary from the quarterly estimates. All individual
shareholders with taxable accounts will receive written
notification regarding the components and tax treatment for all
2021 distributions in early 2022 via Form 1099-DIV.
Investors should carefully consider the investment objectives,
risks, charges, and expenses of the Fund before investing. More
information regarding the Fund’s distribution policy and other
information about the Fund is available by calling 800-GABELLI
(800-422-3554) or visiting www.gabelli.com.
About Gabelli Go Anywhere Trust
The Gabelli Go Anywhere Trust is a non-diversified, closed-end
management investment company whose primary investment objective is
total return, consisting of capital appreciation and current
income. The Fund is managed by Gabelli Funds, LLC, a subsidiary of
GAMCO Investors, Inc. (NYSE:GBL).
NYSE American: GGO.A CUSIP – 36250J208
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version on businesswire.com: https://www.businesswire.com/news/home/20210514005516/en/
THE GABELLI GO ANYWHERE TRUST Investor Relations Contact: David
Schachter (914) 921-5057 dschachter@gabelli.com
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