Gabelli Global Utility & Inc Stock Price, News & Analysis

The Gabelli Global Utility & Income Trust (NYSE American: GLU) announced the continuation of its monthly cash distributions, declaring $0.10 per share for April, May, and June 2023. This aligns with the Fund's policy to maintain a minimum annual distribution of 6% based on an initial offering price of $20 per share. The Board of Trustees will review distributions quarterly and may adjust them as needed based on income and capital gains. Notably, all distributions in 2023 are anticipated to be sourced from paid-in capital. Investors should remain aware of potential tax implications, including the treatment of distributions as return of capital.

The Gabelli Global Utility & Income Trust (NYSE American: GLU) has announced fixed monthly cash distributions of $0.10 per share for January, February, and March 2023. This distribution aligns with the Fund's policy of maintaining a minimum annual distribution rate of 6% based on an initial offering price of $20.00 per share. The Board will assess distribution levels quarterly and may adjust them as needed. Shareholder distributions may include long-term capital gains and could be considered a return of capital if earnings do not cover the total distributions.

The Gabelli Global Utility & Income Trust (NYSE American: GLU) announced its plan to maintain fixed monthly cash distributions of $0.10 per share for October, November, and December 2022. This follows the Fund’s commitment to provide a minimum annual distribution of 6% based on the initial public offering price of $20.00 per share. The Board of Trustees will review potential distributions quarterly and may adjust payments based on earnings and capital gains. Shareholders should note that some distributions may be treated as a return of capital, affecting their tax basis.

The Gabelli Global Utility & Income Trust (AMEX:GLU) has completed a transferable rights offering, resulting in gross proceeds of approximately $9.4 million. The Fund will issue around 591,000 common shares, with subscriptions totaling $9.4 million as of June 29, 2022. Shareholders of record as of May 12, 2022, received transferable rights to purchase shares at $16.00 each. Newly issued shares will not be eligible for dividends paid in May and June 2022.

The Gabelli Global Utility & Income Trust (NYSE American: GLU) has extended its transferable rights offering, allowing record date shareholders to purchase additional common shares until June 29, 2022. Shareholders receive one transferable right for each common share held as of the record date (May 12, 2022). Four rights plus $16.00 are required to purchase one additional share. Rights will trade on NYSE American, with an expiration at 5:00 PM ET on June 29, 2022. Proceeds from the offering may be used for investments or to redeem outstanding preferred shares.

The Gabelli Global Utility & Income Trust (GLU) has declared monthly cash distributions of $0.10 per share for July, August, and September 2022. This follows the Fund's policy of a minimum annual distribution of 6% of the $20 initial public offering price. The Board of Trustees will review the distribution levels quarterly, and an adjusting distribution may be made in December to meet Internal Revenue Code requirements. Approximately 74% of the 2022 distributions will be considered a return of capital.