Welcome to our dedicated page for Gabelli Multimedia news (Ticker: GGT), a resource for investors and traders seeking the latest updates and insights on Gabelli Multimedia stock.
The Gabelli Multimedia Trust Inc. (NYSE: GGT) is a non-diversified, closed-end management investment company whose primary objective is long-term growth of capital, with income as a secondary goal. Managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc., the fund invests in common stock and other securities of companies in the telecommunications, media, publishing, and entertainment industries.
This news page aggregates official announcements and market updates related to GGT. A major theme in the fund’s recent news has been its distribution policy, including reaffirmations of a 10% distribution framework based on average net asset value and communications around an annualized $0.88 per share distribution. Releases detail how the Board of Directors reviews distribution levels, the mix of income, realized capital gains, and return of capital, and the implications for shareholders’ cost basis and tax reporting.
Investors following GGT news will also see updates on capital-raising activities, such as transferable rights offerings and at-the-market (ATM) common stock offerings conducted at prices above net asset value. These announcements explain how new shares are issued, the subscription mechanics for rights offerings, and how ATM sales can be accretive when executed at a premium to net asset value.
Because The Gabelli Multimedia Trust is a closed-end fund with a multimedia sector focus, its news flow often combines fund-specific topics—like changes in distribution frequency from quarterly to monthly—with broader capital structure decisions, including preferred stock information and shelf registration usage. Bookmark this page to review the fund’s historical and ongoing press releases, distribution declarations, and capital markets actions as they are reported.
The Gabelli Multimedia Trust (NYSE: GGT) has announced that its transferrable rights offering to acquire additional shares of common stock will expire on July 22, 2024 at 5:00 PM Eastern Time. Key points of the offering include:
- Shareholders received one transferable right for each share held on June 28, 2024
- Four rights plus $5.00 are required to purchase one additional share
- Over-subscription privilege available for fully exercising shareholders
- Rights trade on NYSE under GGT RT
- The Fund encourages shareholders to take action this week
The Gabelli Multimedia Trust is a closed-end management investment company with $175 million in total net assets, managed by Gabelli Funds,
The Board of Directors of Gabelli Multimedia Trust (NYSE: GGT) has approved a transferable rights offering for common shareholders to acquire additional shares. Shareholders will receive one Right per share held as of the record date, June 28, 2024. Four Rights plus $5.00 will entitle the holder to purchase one additional share. The Rights are tradable and will begin trading on the NYSE on June 27, 2024. The Offering expires on July 22, 2024. Shareholders fully exercising their Rights can subscribe for additional shares subject to limitations. The Fund manages $166 million in total net assets and is overseen by Gabelli Funds, , a GAMCO Investors subsidiary.
The Gabelli Multimedia Trust (NYSE:GGT) reaffirmed its 10% distribution policy with a $0.22 per share cash distribution for the second quarter of 2024. This distribution will be paid on June 21, 2024, to shareholders of record on June 13, 2024.
The Fund aims to distribute a minimum of 10% of its average net asset value annually, based on the average values of the last four quarters. The Board of Directors reviews the distribution each quarter, considering the Fund's net asset value and market conditions. Distributions can be modified at any time and may comprise long-term capital gains, qualified dividend income, or a return of capital.
For 2024, all distributions are currently deemed to be from paid-in capital. This status may affect tax treatments for shareholders, who will receive detailed tax information in early 2025. The Board continues to explore strategic opportunities in the equity markets.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
The Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a cash distribution of $0.22 per share, payable on March 24, 2023, to shareholders of record on March 17, 2023. This distribution aligns with the Fund's policy of maintaining a minimum annual distribution of 10% of its average net asset value. The Fund's management will continue to evaluate its distribution levels based on its net asset value and market conditions. It is noted that certain distributions may be treated as long-term capital gains or qualified dividends, potentially affecting individual tax liabilities. In 2023, distributions are expected to be 100% from paid-in capital.
The Gabelli Multimedia Trust Inc. (NYSE: GGT) reported a robust asset coverage of 228% as of November 30, 2022, with total assets around
FAQ
What is the current stock price of Gabelli Multimedia (GGT)?
What is the market cap of Gabelli Multimedia (GGT)?
