Gabelli Global Utility & Income Trust Series A Cumulative Puttable & Callable Preferred Shares Increases Its Divdend Rate to ...
April 14 2016 - 6:05PM
Business Wire
The Board of Trustees of The Gabelli Global Utility & Income
Trust (NYSE MKT:GLU) (the “Fund”) increased the annual dividend
rate to 3.80% for the Series A Preferred Shares, effective for all
dividend periods after the divided period ending June 27, 2016.
The Series A Preferred Shares trade on the NYSE MKT under the
symbol “GLU Pr A” and were issued on June 19, 2013 at $50.00 per
share. The annual dividend rate of 3.80% was determined based on
the terms of the Series A Preferred Shares. The dividend payment on
June 27, 2016 remains $0.375 per share. The first dividend payment
at the reset annual rate of $1.90 per share (which equates to
$0.475 per share on a quarterly basis) will be payable on September
26, 2016.
The Series A Preferred are non-callable prior to June 19, 2018,
unless a redemption is necessary in the judgment of the Board of
Trustees to maintain the Fund’s tax status as a regulated
investment company under Subchapter M of the Internal Revenue Code
of 1986, as amended.
During the 30 day period prior to June 26, 2018, shareholders
may put any or all of their Series A Preferred Shares to the Fund
at the liquidation preference plus any accumulated and unpaid
dividends.
Investors should carefully consider the investment objectives,
risks, charges, and expenses of the Fund before investing. More
information regarding these and other matters about the Fund is
available by calling 800-GABELLI (800-422-3554) or visiting
www.gabelli.com.
The Gabelli Global Utility & Income Trust is a
non-diversified, closed-end management investment company with $137
million in total net assets whose 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. (NYSE:GBL).
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version on businesswire.com: http://www.businesswire.com/news/home/20160414006722/en/
For Gabelli Global Utility & Income Trust:Adam Tokar,
914-921-5070
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