GGT - Gabelli Multimedia Trust 10% Distribution Policy Reaffirmed and Declared Second Quarter Distribution of $0.22 Per Share | Benzinga
RYE, N.Y., May 16, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT) (the "Fund") reaffirmed and satisfied its 10% distribution policy by declaring a $0.22 per share cash distribution payable on June 21, 2024 to common stock shareholders of record on June 13, 2024.
Additionally, the Board of Directors continues to evaluate potential strategic opportunities for the Fund in what we believe to be an attractive environment to invest in the broader equity markets.
The Fund intends to pay a minimum annual distribution of 10% of the average net asset value of the Fund within a calendar year or an amount sufficient to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The average net asset value of the Fund is based on the average net asset values as of the last day of the four preceding calendar quarters during the year. The net asset value per share fluctuates daily.
Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. 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's distribution policy ...