The Board of Trustees of the GAMCO Global Gold, Natural Resources &
Income Trust by Gabelli (NYSE MKT:GGN) (the “Fund”) approved the
continuation of its policy of paying monthly cash distributions. The
Board of Trustees declared cash distributions of $0.09 per share for
each of April, May, and June 2014.
The distribution for April 2014 will be payable on April 23, 2014 to
common shareholders of record on April 15, 2014.
The distribution for May 2014 will be payable on May 22, 2014 to common
shareholders of record on May 15, 2014.
The distribution for June 2014 will be payable on June 23, 2014 to
common shareholders of record on June 16, 2014.
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.
The Fund currently intends to make monthly cash distributions of all or
a portion of its investment company taxable income (which includes
ordinary income and realized net short-term capital gains) to common
shareholders. The Fund also intends to make annual distributions of its
realized net long-term capital gains, if any. A portion of the
distribution may be a return of capital. Various factors will affect the
level of the Fund’s income, such as its asset mix and use of covered
call strategies. To permit the Fund to maintain more stable
distributions, the Fund may from time to time distribute more or less
than the entire amount of income earned in a particular period. 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.
If the Fund does not generate sufficient earnings (dividends and
interest income 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
is treated as a reduction in the shareholder’s cost basis.
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. Based on the
accounting records of the Fund as of February 14, 2014, each of the
distributions paid to common shareholders in 2014 would be deemed 100%
return of capital on a book 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 2014 will
be made after year end and can vary from the monthly estimates. All
shareholders with taxable accounts will receive written notification
regarding the components and tax treatment for all 2014 distributions in
early 2015 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.
The GAMCO Global Gold, Natural Resources & Income Trust by Gabelli is a
non-diversified, closed-end management investment company with $1.2
billion 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.
(NYSE:GBL), which is a publicly traded NYSE listed company.
Copyright Business Wire 2014