Gabelli Global Utility & Income Trust Continues Monthly Distributions, Declares Distributions of $0.10 Per Share

Rhea-AI Summary

The Gabelli Global Utility & Income Trust (NYSE American: GLU) has announced the continuation of its monthly distribution policy. The Board of Trustees declared cash distributions of $0.10 per share for October, November, and December 2024. This aligns with the Fund's initial distribution policy of paying a minimum annual distribution of 6% of the initial public offering price of $20.00 per share.

Key points:

• Distribution dates set for October 24, November 21, and December 20, 2024
• The Board reviews distribution levels quarterly
• Approximately 22% of 2024 distributions from net investment income, 78% deemed return of capital
• Final determination of distribution sources will be made after year-end

Investors are advised to consider the Fund's objectives, risks, charges, and expenses carefully before investing.

Positive

• Consistent monthly cash distributions of $0.10 per share maintained
• Fund adheres to its 6% annual distribution policy based on initial offering price
• Board of Trustees regularly reviews and monitors distribution levels

Negative

• 78% of 2024 distributions deemed return of capital, potentially reducing shareholder cost basis
• Distribution rate may not reflect actual dividend yield or total return on investment

RYE, N.Y., Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Global Utility & Income Trust (NYSE American: GLU) (the “Fund”) approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.10 per share for each of October, November, and December 2024.

Distribution Month	Record Date	Payable Date	Distribution Per Share
October	October 17, 2024	October 24, 2024	$0.10
November	November 14, 2024	November 21, 2024	$0.10
December	December 13, 2024	December 20, 2024	$0.10

Under the Fund’s initial distribution policy, the Fund has paid a minimum annual distribution of 6% of the initial public offering price of $20.00 per share (a distribution of $0.10 per share each month).

Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. If necessary, the Fund will pay an adjusting distribution in December which includes any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The Fund’s distribution policy is subject to modification by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.

If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.

Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2024 would include approximately 22% from net investment income and 78% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2024 will be made after year end and can vary from the monthly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2024 distributions in early 2025 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:

Adam Tokar
(914) 457-1079

About The Gabelli Global Utility & Income Trust
The Gabelli Global Utility & Income Trust is a diversified, closed-end management investment company with $125 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
CUSIP – 36242L105

FAQ

What is the monthly distribution amount for GLU in Q4 2024?

The Gabelli Global Utility & Income Trust (GLU) has declared a monthly cash distribution of $0.10 per share for each month in Q4 2024 (October, November, and December).

When are the record and payable dates for GLU's Q4 2024 distributions?

The record and payable dates for GLU's Q4 2024 distributions are: October (record: Oct 17, payable: Oct 24), November (record: Nov 14, payable: Nov 21), and December (record: Dec 13, payable: Dec 20).

What percentage of GLU's 2024 distributions is considered return of capital?

Based on current accounting records, approximately 78% of GLU's distributions to common shareholders in 2024 would be deemed a return of capital on a book basis.

How often does GLU's Board of Trustees review the distribution level?

The Board of Trustees of GLU reviews the amount of any potential distribution from income, realized capital gain, or capital available on a quarterly basis.