Aug. 14 at 5:12 PM
$GGT The dividend/distribution is still the same on a monthly/yearly basis, 88 cents, consistent over the life of this closed-end fund. What has changed is the frequency--now monthly. There has been some concern re: dilution related to an earlier announcement of a stock offering. However, The “at-the-market” offering authorization by Gabelli Multimedia Trust (GGT) back in April is conditional, and the fund has clearly stated that shares will only be issued at the discretion of the fund's Board/Fund Managers when GGT trades at a premium to NAV (Net Asset Value). Since GGT has been trading at NAV discount for months, no new shares have been issued under that program. The fund has used a distribution of capital as a portion of the distribution over the 30 years since the fund's inception. Stocks added to the fund's holdings are occasionally added by issuance of Preferred stock, historically redeemed early per favorable market changes. Best to all, do you own due diligence.
