One Stock that Pays Monthly Dividends

Have been holding on to this stock that pays monthly dividends for a few months now.  The stock is Gamco Global Gold & Natural Resources Trust (GGN).  It pays a dividend of US$0.14 every month and is currently trading at US$13.69.  After accounting for withholding tax rate of 30% (since I am not a US citizen), the dividends is slightly less.  There are of course exchange rate fluctuations to account for too.

I just bought another 200 shares recently bringing my total holdings to 500 shares.

GGN is a close ended fund (CEF).  The fund's objective is as follows:

The GAMCO Global Gold, Natural Resources & Income Trust by Gabelli is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. The Fund's secondary investment objective is to seek capital appreciation consistent with the Fund's strategy and its primary objective.

Under normal market conditions, the Fund will attempt to achieve its objectives by investing at least 80% of its assets in equity securities of companies principally engaged in the gold industry and the natural resources industries. The Fund will invest at least 25% of its assets in the equity securities of companies principally engaged in the exploration, mining, fabrication, processing, distribution or trading of gold or the financing, managing, controlling or operating of companies engaged in "gold-related" activities. In addition, the Fund will invest at least 25% of its assets in the equity securities of companies principally engaged in the exploration, production or distribution of natural resources, such as gas, oil, paper, food and agriculture, forestry products, metals and minerals as well as related transportation companies and equipment manufacturers

The dividends declaration for July, August and September 2012 also remains at US$0.14.

• The distribution for July 2012 will be payable on July 24, 2012 to common shareholders of record on July 17, 2012. 
• The distribution for August 2012 will be payable on August 24, 2012 to common shareholders of record on August 17, 2012. 
• The distribution for September 2012 will be payable on September 21, 2012 to common shareholders of record on September 14, 2012.