Gabelli Multimedia Trust Reinforces Maintenance of $0.88 Per Share Annual Distribution Continues Monthly Distributions

Rhea-AI Summary

Gabelli Multimedia Trust (NYSE:GGT) has announced the continuation of its fixed monthly cash distribution policy, maintaining its annual distribution rate of $0.88 per share. The Fund's Board of Directors has declared distributions for October ($0.07), November ($0.07), and December 2025 ($0.08).

The Fund will maintain its $0.22 quarterly distribution structure, with $0.07 paid in the first two months and $0.08 in the third month of each quarter. Notably, GGT no longer relies on SEC exemptive relief for its distribution policy and will distribute investment company taxable income monthly, with annual distributions of realized net long-term capital gains.

Based on current accounting records, 100% of 2025 distributions would be considered paid-in capital on a book basis, with final tax determinations to be made after year-end.

Positive

• Maintains consistent $0.88 annual distribution rate
• Regular monthly distribution schedule provides steady income stream
• Flexible distribution policy allows adjustment based on market conditions

Negative

• 100% of 2025 distributions currently deemed from paid-in capital, not earnings
• Distribution level may not be sustainable based on Fund's income
• No guarantee of maintaining current distribution rate

Insights

Closed-End Fund Specialist

Gabelli Multimedia Trust maintains its $0.88 annual distribution, continuing monthly payments rather than relying on a managed distribution policy.

The Gabelli Multimedia Trust (NYSE: GGT) has announced the continuation of its $0.88 per share annual distribution policy, structured as monthly payments. The fund will distribute $0.07 per share in October and November 2025, followed by $0.08 per share in December 2025, maintaining its quarterly payout pattern of two $0.07 payments followed by one $0.08 payment.

A notable shift in the announcement is that GGT will no longer rely on the SEC exemptive order that previously allowed it to distribute long-term capital gains more frequently than typically permitted. This technical change doesn't alter the distribution amount but does impact how the fund manages its distribution sources.

The current distribution sources appear to be primarily return of capital rather than income or realized gains. According to the announcement, based on current accounting records, 100% of 2025 distributions would be considered paid-in capital on a book basis. This means shareholders are effectively receiving a portion of their investment back rather than purely investment returns, which has different tax implications than distributions from income or capital gains.

For income-focused investors, it's important to understand that while the distribution rate remains steady, the fund's actual earned income fluctuates, and distributions may not always align with current earnings. The board maintains flexibility to modify the distribution policy based on market conditions, fund performance and earnings. This approach prioritizes distribution stability over direct correlation to current income.

RYE, N.Y., Aug. 21, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT) (the “Fund”) approved the continuation of its policy of paying fixed monthly cash distributions.  The Board of Directors declared cash distributions as set forth below for each of October, November, and December 2025.

Distribution Month	Record Date	Payable Date	Distribution Per Share
October	October 17, 2025	October 24, 2025	$0.07
November	November 13, 2025	November 20, 2025	$0.07
December	December 12, 2025	December 19, 2025	$0.08

Under its monthly distribution policy, the Fund will continue to pay a $0.22 per share quarterly distribution, with $0.07 per share paid for each of the first two months of the quarter and $0.08 per share paid in the third month of each quarter.

The Fund previously paid quarterly distributions in accordance with a “managed distribution policy” adopted pursuant to an exemptive order granted to the Fund by the Securities and Exchange Commission, which permitted the Fund to distribute long-term capital gains more frequently than the limits provided in the Investment Company Act and the rules and regulations thereunder.  The Fund no longer intends to rely on this exemptive relief to maintain a managed distribution policy in connection with its monthly distributions.

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.  The Fund, however, may make more than one capital gain distribution to avoid paying U.S. federal excise tax.  A portion of each distribution may be a return of capital.  Various factors will affect the level of the Fund’s income.  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.  The Fund’s distribution policy may be modified from time to time by the Board as it deems appropriate, including in light of market and economic conditions and the Fund’s current, expected and historical earnings and investment performance.  Because the Fund’s monthly distributions are subject to modification by the Board 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.

Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2025 would be deemed 100% from paid-in capital on a book basis.  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 2025 will be made after year end and can vary from the monthly estimates.  Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution.  All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2025 distributions in early 2026 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing.  For more information regarding the Fund’s distribution policy and other information about the Fund, call:

Carter Austin
(914) 921-5475

About The Gabelli Multimedia Trust
The Gabelli Multimedia Trust Inc. is a non-diversified, closed-end management investment company with $208 million in total net assets whose primary investment objective is long-term growth of capital.  The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE: GGT
CUSIP – 36239Q109

Investor Relations Contact:
Carter Austin
(914) 921-5475
caustin@gabelli.com

FAQ

What is GGT's current annual distribution rate?

Gabelli Multimedia Trust (GGT) maintains an annual distribution rate of $0.88 per share, paid monthly with $0.07 for the first two months and $0.08 for the third month of each quarter.

When are GGT's next dividend payment dates in 2025?

GGT's upcoming payments are: October 24 ($0.07), November 20 ($0.07), and December 19, 2025 ($0.08), with respective record dates of October 17, November 13, and December 12.

What is the source of GGT's 2025 distributions?

Based on current accounting records, 100% of GGT's 2025 distributions would be considered paid-in capital on a book basis, pending final tax determination after year-end.

How often does Gabelli Multimedia Trust pay distributions?

GGT pays distributions monthly, following a structure of $0.07 per share for the first two months and $0.08 for the third month of each quarter, totaling $0.22 quarterly.

Will GGT maintain its current distribution rate?

While GGT's Board has approved continuation of the current distribution policy, the Fund states there is no assurance that it will maintain distributions at the current rate, as it depends on various factors including market conditions and Fund performance.