Gabelli Multimedia Trust Inc. (NYSE:GGT) Increases Dividend to $0.08 Per Share

Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a monthly dividend on Wednesday, August 12th. Shareholders of record on Friday, December 11th will be paid a dividend of 0.08 per share by the financial services provider on Friday, December 18th. This represents a c) dividend on an annualized basis and a yield of 22.6%. The ex-dividend date is Friday, December 11th. This is a 14.3% increase from Gabelli Multimedia Trust’s previous monthly dividend of $0.07.

Gabelli Multimedia Trust Stock Up 1.7%

Shares of GGT stock opened at $4.25 on Thursday. The stock has a fifty day moving average price of $4.17 and a 200 day moving average price of $4.15. Gabelli Multimedia Trust has a 1 year low of $3.87 and a 1 year high of $4.39.

About Gabelli Multimedia Trust

Gabelli Multimedia Trust Inc (NYSE: GGT) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the common stocks of companies engaged in the multimedia and communications sectors. The trust’s portfolio is concentrated in industries such as cable and satellite television, wireless and wireline telecommunications, radio and broadcasting, print and digital publishing, and internet services. Through selective security selection, Gabelli Multimedia Trust aims to capture growth opportunities driven by evolving content delivery platforms and technological innovation.

Since its initial public offering in December 1987, the trust has been managed by Gabelli Funds, LLC, an affiliate of GAMCO Investors, Inc, under the direction of veteran investors led by Mario J.