Skip to main content

Gabelli Global Utility & Income Trust Increases Dividend Rate on Series B Preferred to 5.20% and Announces Additional Put Date

Written by Customer Service on . Posted in Dividend Reports And Estimates.

RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) — The Board of Trustees (the “Board”) of The Gabelli Global Utility & Income Trust (NYSE American: GLU) (the “Fund”) is pleased to announce an increase in the annual dividend rate on the Fund’s Series B Cumulative Puttable and Callable Preferred Shares (the “Series B Preferred”), to 5.20%, effective September 26, 2023 for the quarterly dividend payable on December 26, 2023.

The Board also approved an additional put date on December 26, 2024.

The Series B Preferred may be put back to the Fund at the liquidation preference of $50.00 per share, plus any accumulated and unpaid dividends, during the 60-day period prior to December 26, 2023, and now it has a second put date on December 26, 2024. Currently the Series B Preferred becomes perpetual after December 26, 2023, and is callable any time thereafter. Now, the Series B Preferred will become PERPETUAL after the additional put date of December 26, 2024.

The Series B Preferred Shares, which trade on the NYSE American under the symbol “GLU Pr B”, were issued on December 19, 2018 at $50.00 per share.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding this and other information about the Fund is available by calling 800-GABELLI (800-422-3554), visiting www.gabelli.com, or emailing ClosedEnd@gabelli.com.

About The Gabelli Global Utility & Income Trust
The Gabelli Global Utility & Income Trust is a diversified, closed-end management investment company with $149 million in total net assets whose primary investment objective is to seek a consistent level of after-tax total return for its investors with an emphasis on tax-advantaged dividend income under current tax law. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

NYSE American – GLU PrB
CUSIP – 36242L303

For information:
Adam Tokar
(914) 457-1079

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.