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Cash Dividend On The Way From Gabelli Multimedia Trust's 6.00% Series B Cumulative Preferred Stock

On 6/17/14, Gabelli Multimedia Trust's 6.00% Series B Cumulative Preferred Stock (GGT.PRB) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 6/26/14. As a percentage of GGT.PRB's recent share price of $25.64, this dividend works out to approximately 1.46%, so look for shares of GGT.PRB to trade 1.46% lower — all else being equal — when GGT.PRB shares open for trading on 6/17/14. On an annualized basis, the current yield is approximately 5.85%, which compares to an average yield of 4.48% in the "ETFs & CEFs" preferred stock category, according to Preferred Stock Channel.

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As of last close, GGT.PRB was trading at a 2.56% premium to its liquidation preference amount. The chart below shows the one year performance of GGT.PRB shares, versus GGT:

Performance Comparison Chart



Below is a dividend history chart for GGT.PRB, showing historical dividends prior to the most recent $0.375 on Gabelli Multimedia Trust's 6.00% Series B Cumulative Preferred Stock:

GGT.PRB+Dividend+History+Chart



In Friday trading, Gabelli Multimedia Trust's 6.00% Series B Cumulative Preferred Stock (GGT.PRB) is currently trading flat on the day, while the common shares (GGT) are off about 1%.

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