Gabelli Global Small and Mid Cap Value Trust Declares First Quarter Distribution of $0.21 Per Share Reaffirms Annualized Distribution of $0.84 Per Share

Rhea-AI Summary

Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) declared a $0.21 per share cash distribution payable March 24, 2026 to shareholders of record March 17, 2026, a 31% increase from $0.16.

The raise brings the annualized distribution to $0.84 from $0.64. Estimated composition: ~33% net investment income and ~67% net capital gains on a book basis. Distribution policy may be adjusted by the Board and a year-end adjusting distribution may occur to meet RIC requirements.

Positive

• Distribution increase of 31% to $0.21 per share
• Annualized distribution raised to $0.84 from $0.64
• Estimated distribution composition: 33% income, 67% capital gains (book basis)

Negative

• Portion of distributions may be a return of capital if earnings are insufficient
• Distribution policy is subject to change by the Board at any time
• Distributions include taxable capital gains and may trigger the 3.8% Medicare net investment income surtax for some shareholders

Key Figures

Quarterly distribution: $0.21 per share Prior distribution: $0.16 per share Distribution increase: 31% +5 more

8 metrics

Quarterly distribution $0.21 per share Cash distribution payable March 24, 2026

Prior distribution $0.16 per share Previous quarterly distribution level

Distribution increase 31% Raise from $0.16 to $0.21 per share

Annualized distribution $0.84 per share Reaffirmed annualized distribution rate for 2026

Prior annualized rate $0.64 per share Previous annualized distribution level

Payment date March 24, 2026 Payable date for the declared distribution

Record date March 17, 2026 Shareholder record date for distribution

Distribution composition 33% income / 67% capital gains Estimated 2026 distribution mix on book basis

Market Reality Check

Price: $16.13 Vol: Volume 1,265 is below the...

low vol

$16.13 Last Close

Volume Volume 1,265 is below the 20-day average of 7,317, suggesting limited pre-news positioning. low

Technical Price $16.25 is trading above the 200-day MA at $14.03, reflecting a pre-news uptrend.

Peers on Argus

Peers show mixed, mostly small moves: BCV +0.08%, KSM +0.21%, CEE +0.41%, PDCC -...

Peers show mixed, mostly small moves: BCV +0.08%, KSM +0.21%, CEE +0.41%, PDCC -0.74%, GNT -0.12%. This contrasts with GGZ’s -0.79% move, pointing to stock‑specific dynamics.

Common Catalyst Several related closed-end funds (e.g., BCV, GNT) also issued distribution declarations and reaffirmed annualized payouts on the same day.

Historical Context

2 past events · Latest: Nov 12 (Positive)

Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Nov 12	Distribution increase	Positive	+0.4%	Board raised annualized distribution to $0.84 with strong YTD total return.
Aug 21	Quarterly distribution	Neutral	-0.1%	Declared $0.16 quarterly payout with mixed income, gains, and return of capital.

Pattern Detected

Recent distribution announcements have produced modest, mixed price reactions, suggesting limited but sometimes positive sensitivity to payout news.

Recent Company History

Over the past few months, GGZ focused on its distribution policy. On Nov 12, 2025, it raised the annualized distribution to $0.84 per share, citing a 25% year-to-date total return, and the stock moved about 0.43% higher. On Aug 21, 2025, it declared a $0.16 quarterly distribution with a mix of income, capital gains, and return of capital, and shares were roughly flat. Today’s news reiterates and implements that higher payout framework.

Market Pulse Summary

This announcement increases the quarterly distribution to $0.21 and reaffirms an annualized rate of ...

Analysis

This announcement increases the quarterly distribution to $0.21 and reaffirms an annualized rate of $0.84, while detailing that 2026 payouts are currently estimated at 33% net investment income and 67% net capital gains. Historically, GGZ’s distribution decisions have produced modest price reactions. Investors may want to track how the income vs. capital gains mix evolves, any policy changes from the Board, and how distributions compare with the Fund’s net asset value and market performance.

Key Terms

regulated investment companies, net investment income, capital gains, return of capital, +4 more

8 terms

regulated investment companies regulatory

"minimum distribution requirements of the Internal Revenue Code for regulated investment companies"

Regulated investment companies are pooled investment vehicles — such as mutual funds and some exchange-traded funds — that follow specific tax and operating rules so they can pass most investment income directly to shareholders without paying corporate income tax. Think of them as a shared basket that must meet packing and labeling rules to distribute fruit straight to owners; for investors this affects how returns are taxed, how income is paid out, and the fund’s legal protections and reporting obligations.

net investment income financial

"approximately 33% from net investment income and 67% from net capital gains"

Net investment income is the money an investor or fund actually keeps from its investments after subtracting the costs of running those investments (like management fees, interest, and losses). Think of it as your paycheck from owning assets: gross returns minus the bills needed to earn them. Investors watch it because it shows how profitable the investment activities are, influences dividend payouts and cash available for growth, and helps compare true performance across funds or companies.

capital gains financial

"net realized capital gains in excess of the quarterly distributions for that year"

Capital gains are the profit you make when you sell an investment—like a stock, bond, or property—for more than you paid for it. Investors care because these gains directly boost returns and can trigger taxes, so the timing and choice to sell affect how much money you keep; think of it like selling a house for a higher price and deciding when to close the sale to maximize proceeds after taxes.

return of capital financial

"amount distributed in excess of the Fund’s earnings would be deemed a return of capital"

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

qualified dividend income financial

"treated as long-term capital gain or qualified dividend income (or a combination of both)"

Qualified dividend income is dividend money that meets government rules so it’s taxed at the same lower rates as long-term capital gains instead of at higher ordinary income rates. For investors this matters because it increases the after-tax return on dividend-paying stocks or funds—similar to getting a discount on your tax bill if you hold the investment long enough and the payout comes from approved sources.

Form 1099-DIV regulatory

"taxable accounts will receive written notification ... via Form 1099-DIV"

Form 1099-DIV is a U.S. tax document brokers, mutual funds and other financial institutions send to investors showing dividends and other distributions paid during the year. Investors use it like an annual receipt to report taxable income — including regular dividends, dividends that may qualify for lower tax rates, and capital gains distributions — so it directly affects tax liability and helps reconcile brokerage records with a tax return.

Medicare surcharge regulatory

"will be required to pay a 3.8% Medicare surcharge on their "net investment income""

An extra fee or tax added to certain incomes, premiums, or transactions to help fund public health insurance programs commonly called Medicare. For investors, it matters because this surcharge can reduce after-tax returns, increase payroll or corporate costs, and affect companies’ profit forecasts much like a new toll that raises the cost of doing business or lowers the money individuals have available to invest.

net investment income financial

"their "net investment income", which includes dividends received from the Fund"

Net investment income is the money an investor or fund actually keeps from its investments after subtracting the costs of running those investments (like management fees, interest, and losses). Think of it as your paycheck from owning assets: gross returns minus the bills needed to earn them. Investors watch it because it shows how profitable the investment activities are, influences dividend payouts and cash available for growth, and helps compare true performance across funds or companies.

AI-generated analysis. Not financial advice.

RYE, N.Y., Feb. 11, 2026 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) (the “Fund”) declared a $0.21 per share cash distribution payable on March 24, 2026 to common shareholders of record on March 17, 2026. This is a 31% increase from $0.16 per share, bringing the annualized distribution rate to $0.84 from $0.64 per share.

The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Trustees. In addition to the quarterly distributions, and in accordance with the minimum distribution requirements of the Internal Revenue Code for regulated investment companies, the Fund may pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the quarterly distributions for that year.

Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the current financial market environment. The Fund’s distribution policy is subject to modification by the Board of Directors at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

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.

Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, the current distribution paid to common shareholders in 2026 would include approximately 33% from net investment income and 67% from net capital gains 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 2026 will be made after year end and can vary from the quarterly 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 2026 distributions in early 2027 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:

Bethany Uhlein
(914) 921-5546

About The Gabelli Global Small and Mid Cap Value Trust
The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company with $181 million in total net assets whose primary investment objective is to achieve long-term capital growth of capital. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE – GGZ
CUSIP – 36249W104

FAQ

What distribution did GGZ declare for March 2026 and when is it payable?

GGZ declared a $0.21 per share cash distribution payable March 24, 2026. According to the company, shareholders of record on March 17, 2026 will receive the payment and the increase marks a 31% rise from the prior distribution.

How does the new GGZ annualized distribution compare to the prior rate?

The annualized distribution for GGZ is now $0.84 per share, up from $0.64. According to the company, this reflects the raise to $0.21 quarterly and equals a 31% increase versus the previous per‑share distribution.

What are the tax components of GGZ's 2026 distribution?

The current 2026 distribution estimate is approximately 33% net investment income and 67% net capital gains on a book basis. According to the company, final tax reporting will be provided on Form 1099‑DIV in early 2027.

Could GGZ's distribution include a return of capital and what does that mean?

Yes, distributions exceeding the Fund's earnings could be treated as a return of capital, reducing cost basis rather than being immediately taxable. According to the company, this occurs if dividends, interest, and realized gains are insufficient to cover distributions.

Will GGZ make additional distributions beyond the quarterly payments in 2026?

The Fund may pay an adjusting distribution in December to satisfy RIC requirements if needed. According to the company, any additional year‑end distribution would cover income and realized gains in excess of quarterly payments.