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Gabelli Natural Resources, Gold & Income Trust Declares Monthly Distributions of $0.14 Per Share

^{Published on 2011-05-26 13:00:59 - Market Wire}
 

RYE, N.Y.--([ BUSINESS WIRE ])--The Board of Trustees of The Gabelli Natural Resources, Gold & Income Trust (NYSE:GNT) (the aFunda) declared monthly cash distributions of $0.14 per share for each of June, July, August, and September 2011.

The distribution for June 2011 will be payable on June 23, 2011 to common shareholders of record on June 16, 2011.

The distribution for July 2011 will be payable on July 22, 2011 to common shareholders of record on July 15, 2011.

The distribution for August 2011 will be payable on August 24, 2011 to common shareholders of record on August 17, 2011.

The distribution for September 2011 will be payable on September 23, 2011 to common shareholders of record on September 16, 2011.

The net proceeds of the initial public offering are being invested in accordance with the investment objectives of the Fund. Premium income from writing covered call options is expected to generate current income, although in its initial months of investment operations, the Fund may not realize such income until later in the year.

The Fund intends to make regular monthly cash distributions of all or a portion of its investment company taxable income (which includes ordinary income and realized 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. A portion of the distribution may be a return of capital. Various factors will affect the level of the Funda™s income, such as its asset mix and use of covered call strategies. To permit the Fund to maintain more stable monthly distributions, the Fund may from time to time distribute more or less than the entire amount of income earned in a particular period. Because the Funda™s monthly distributions are subject to modification by the Board of Trustees at any time and the Funda™s income will fluctuate, there can be no assurance that the Fund will pay distributions at a particular rate or frequency.

Each quarter, the Board of Trustees will review the amount of any potential distribution and the income, capital gain, or capital available. The Board of Trustees will continue to monitor the Funda™s distribution level, taking into consideration the Funda™s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

Short-term capital gains, qualified dividend income, ordinary income, and paid-in 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 as of May 16, 2011, each of the distributions paid in 2011 would include approximately 12% from net capital gains and 88% from paid-in capital on a book basis. 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 2011 will be made after year end and can vary from the monthly estimates. All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2011 distributions in early 2012 via Form 1099-DIV.

The Gabelli Natural Resources, Gold & Income Trust is a non-diversified, closed-end management investment company with $381 million in total net assets whose primary investment objective is to provide a high level of current income from interest, dividends and option premiums. The Fund invests primarily in equity securities of natural resources and gold companies and intends to earn short-term gains from a strategy of writing (selling) primarily covered call options on equity securities in its portfolio. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.