Gabelli Multimedia Trust Reinforces Maintenance of $0.88 Per Share Annual Distribution Continues Monthly Distributions NAV Total Return of 33% Year to Date

Rhea-AI Summary

Gabelli Multimedia Trust (NYSE:GGT) announced that its Board approved continuing a $0.88 per share annual distribution paid monthly in 2026, reflecting a 22% cash-on-cash distribution and a 33% NAV total return year-to-date. The Fund will pay a $0.22 per share quarterly pattern via monthly payments of $0.07, $0.07 and $0.08.

The Board declared distributions for Jan 15/Pay Jan 23, 2026, Feb 12/Pay Feb 20, 2026, and Mar 17/Pay Mar 24, 2026. The Fund no longer intends to rely on prior SEC exemptive relief for a managed distribution policy and may treat part of distributions as return of capital. Final tax characterization for 2025 will be reported on Form 1099-DIV in early 2026.

Positive

• NAV total return +33% year-to-date
• Annual distribution $0.88 per share for 2025/2026
• Cash-on-cash yield 22% based on $0.88 annual distribution

Negative

• A portion of distributions may be return of capital
• Fund no longer intends to rely on SEC exemptive relief for managed distributions
• Monthly distributions are subject to modification by the Board at any time

Insights

Equity Income Analyst

Board reaffirms monthly fixed payouts; strong NAV total return supports continuation but distributions include return of capital.

The Fund will continue a fixed annual distribution of $0.88 per share paid monthly as a $0.22 quarterly pattern, backed by a reported NAV total return of 33% year-to-date. The Board moved away from relying on prior SEC exemptive relief and now intends to pay monthly cash distributions from investment company taxable income and, annually, realized long-term capital gains when available.

Risks and dependencies include the Fund’s disclosure that 2025 distributions were deemed 100% from paid-in capital on a book basis, and that distributions may include a return of capital. The Board may change the policy at any time and the Fund may make additional capital gain distributions to avoid federal excise tax.

Watch the distribution component notices sent with each payment and the Form 1099-DIV in early 2026 for final tax treatment. Also monitor quarterly NAV performance and the Fund’s year-end accounting to see if monthly payouts remain sustainable beyond the currently-declared January through March 2026 payment schedule (record dates January 15, 2026, February 12, 2026, March 17, 2026).

RYE, N.Y., Nov. 12, 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, reflective of the strength of the Fund’s NAV total return of 33% year to date.  The 2025 annual distribution of $0.88 per share currently equates to a 22% “cash on cash” distribution.

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 Board of Directors declared cash distributions as set forth below for each of January, February, and March 2026.

Distribution Month	Record Date	Payable Date	Distribution Per Share
January	January 15, 2026	January 23, 2026	$0.07
February	February 12, 2026	February 20, 2026	$0.07
March	March 17, 2026	March 24, 2026	$0.08

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 $218 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 the 2025 annual distribution for Gabelli Multimedia Trust (GGT)?

The Fund announced a $0.88 per share annual distribution for 2025, paid monthly in 2026.

How is GGT paying the monthly distribution pattern in 2026?

GGT will pay a quarterly total of $0.22 per share via monthly payments of $0.07, $0.07, and $0.08.

What are the record and payable dates for GGT distributions in early 2026?

Declared dates: Jan record Jan 15/pay Jan 23, 2026; Feb record Feb 12/pay Feb 20, 2026; Mar record Mar 17/pay Mar 24, 2026.

Does GGT’s distribution include return of capital for shareholders?

Yes. The Fund stated that a portion of each distribution may be a return of capital and 2025 distributions were 100% from paid-in capital on a book basis.

Why did GGT stop relying on the SEC exemptive order for distributions?

The Fund said it no longer intends to rely on the prior exemptive relief and will instead intend to distribute taxable income monthly and long-term gains annually as needed.

How did GGT perform year-to-date through the announcement date?

The Fund reported a 33% NAV total return year-to-date as of the announcement.