Company: GGT-PG
Filing Date: 2025-04-17
Form Type: 424B2
Source: 0001999371-25-004396
Chunk: 23

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-04-17
Form: 424B2
Chunk 23
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 annual rate of the per share liquidation preference,
are cumulative from the original issue date and are payable, when, as and if authorized by the Board and declared by the Fund,
out of funds legally available therefor.

Auction Rate Preferred Stock. The holders of Auction Rate Preferred Stock are entitled to receive cash distributions, stated at annual rates of the
applicable per share liquidation preference, that vary from dividend period to dividend period. Dividend rates for the Series C
Auction Rate Preferred are cumulative at a rate that may be reset every seven days based on the results of an auction, or not in
excess of a maximum rate.

Common Stock Distributions.
In order to allow its common stockholders to realize a predictable, but not assured, level of cash flow and some liquidity periodically
on their investment without having to sell shares, the Fund has adopted a managed distribution policy, which may be changed at
any time by the Board, of paying a minimum annual distribution of 10% of the average net asset value of the Fund to common stockholders.
In the event the Fund does not generate a total return from dividends and interest received and net realized capital gains in an
amount equal to or in excess of its stated distribution in a given year, the Fund may return capital as part of such distribution,
which may have the effect of decreasing the asset coverage per share with respect to the Fund’s preferred stock. Distributions
on the Fund’s common stock may contain a return of capital. Any return of capital should not be considered by investors as
yield or total return on their investment in the Fund. Distributions sourced from return of capital should not be considered as
dividend yield or the total return from an investment in the Fund. Stockholders who periodically receive the payment of a dividend
or other distribution consisting of a return of capital may be under the impression that they are receiving net profits when they
are not. Stockholders should not assume that the source of a distribution from the Fund is net profit. The composition of each
distribution is estimated based on the earnings of the Fund as of the record date for each distribution. The actual composition
of each of the current year’s distributions will be based on the Fund’s investment activity through the end of the
calendar year.

For the fiscal year
ended December 31, 2023, the Fund made distributions of $0.88 per share of common stock, all of which was deemed a return
of capital. The composition of each distribution is estimated based on the