GAMCO Global Gold, Natural Resources & Income Trust Declares Monthly Distributions of $0.05 Per Share
The Board of Trustees of the 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 $0.05 per share for each of October, November, and December 2019.
The distribution for October 2019 will be payable on October 24, 2019 to common shareholders of record on October 17, 2019.
The distribution for November 2019 will be payable on November 21, 2019 to common shareholders of record on November 14, 2019.
The distribution for December 2019 will be payable on December 20, 2019 to common shareholders of record on December 13, 2019.
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 makes annual distributions of its realized net long-term capital gains and monthly cash distributions of all or a portion of its investment company taxable income (which includes net investment income and net realized short-term capital gains) to common shareholders. 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 distribute more 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, 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. It is expected that the distributions to date will be treated for tax purposes as a return of capital.