Gabelli Healthcare & WellnessRx Trust Declares Fourth Quarter Distribution of $0.15 Per Share and Announces Additional Year End Distribution
12 Novembre 2021 - 3:05PM
Business Wire
The Board of Trustees of The Gabelli Healthcare & WellnessRx
Trust (NYSE:GRX) (the “Fund”) reaffirms its quarterly distribution
policy and declared a $0.15 per share cash distribution payable on
December 17, 2021 to common shareholders of record on December 10,
2021.
The Board of Trustees also authorized an additional year end
cash distribution in accordance with the minimum distribution
requirements for the Internal Revenue Code, which will include any
undistributed additional income and realized net capital gains in
excess of the quarterly distributions for the year. The amount and
dates of the additional distribution will be announced at a later
date.
The additional distribution will be included in 2021 income for
shareholders subject to income tax and all common share
distributions will have the same proportion of net investment
income and short term capital gains.
Each quarter, the Board of Trustees reviews the amount of any
potential distribution and the income, realized capital gain, or
capital available. The Board of Trustees will continue to monitor
the Fund’s distribution level, taking into consideration the Fund’s
net asset value and the financial market environment. The Fund’s
distribution policy is subject to modification or termination by
the Board of Trustees 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, each of the distributions paid to common
shareholders in 2021 would be deemed 100% from net capital gains on
a book basis. The source of the distributions will likely change
due to investment activity through the end of the calendar year and
this information does not represent what should be reported for tax
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 2021
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 2021 distributions in early 2022 via Form
1099-DIV.
Investors should carefully consider the investment objectives,
risks, charges, and expenses of the Fund before investing. More
information regarding the Fund’s distribution policy and other
information is available by calling 800-GABELLI (800-422-3554) or
visiting www.gabelli.com.
About The Gabelli Healthcare & WellnessRx Trust
The Gabelli Healthcare & WellnessRx Trust is a diversified,
closed-end management investment company with $346 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. (NYSE:GBL).
NYSE: GRX CUSIP – 36246K103
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version on businesswire.com: https://www.businesswire.com/news/home/20211112005632/en/
Investor Relations: Bethany Uhlein 914.921.5546
buhlein@gabelli.com
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