Welcome to our dedicated page for Gabelli Utility Trust news (Ticker: GUT), a resource for investors and traders seeking the latest updates and insights on Gabelli Utility Trust stock.
The Gabelli Utility Trust (NYSE: GUT) is a diversified, closed-end management investment company focused on utility-related investments. Public announcements describe its primary investment objective as seeking long-term growth of capital and income by investing primarily in utility companies involved in the generation and distribution of electricity, gas, and water. The fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).
News about The Gabelli Utility Trust frequently centers on its distribution policy and monthly cash distributions. The Board of Trustees has repeatedly approved the continuation of a policy of paying fixed monthly cash distributions, and the fund notes that it has paid a distribution to shareholders every month since October 1999. Regular press releases outline upcoming record dates, payable dates, and per-share distribution amounts for future months.
Company communications also discuss how the Board reviews distributions each quarter, considering income, realized capital gains, capital available, the fund’s net asset value, and the broader financial market environment. These updates often explain that the distribution policy can be modified at any time and that the distribution rate should not be viewed as the dividend yield or total return on an investment in the fund.
Other recurring themes in GUT news include commentary that the fund’s shares have traded at a premium to net asset value, along with reminders for shareholders participating in the dividend reinvestment plan that reinvestment may occur at a premium. Disclosures on the estimated composition of distributions—such as portions attributed to net investment income, capital gains, or return of capital—are also provided, with final tax character reported after year end.
Investors following GUT news can use this page to review the fund’s historical and ongoing announcements regarding its monthly distributions, distribution policy, and related shareholder information.
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The Gabelli Utility Trust (NYSE:GUT) announced its decision to maintain fixed monthly cash distributions of
The Gabelli Utility Trust (NYSE:GUT) has approved the continuation of its fixed monthly cash distributions, declaring a distribution of
The Gabelli Utility Trust (NYSE:GUT) has confirmed its policy of fixed monthly cash distributions, declaring $0.05 per share for October, November, and December 2022. Key dates for these distributions are set, with record dates on October 17, November 15, and December 9, and payable dates following shortly after. The Board of Trustees will assess distribution levels quarterly, aligning with the Fund's net asset value and market conditions. The Fund has consistently paid distributions since October 1999 and currently has $377 million in net assets, focusing on utility investments.
The Gabelli Utility Trust (NYSE:GUT) Board of Trustees has confirmed its policy of fixed monthly cash distributions at $0.05 per share for July, August, and September 2022. The record and payable dates for these distributions are set, with July's on the 15th and 22nd, August's on the 17th and 24th, and September's on the 16th and 23rd. The Fund, which has maintained monthly distributions since October 1999, will monitor its distribution levels relative to net asset value. Currently, shares trade at a premium to net asset value, which may not be sustainable.
The Gabelli Utility Trust (NYSE:GUT) announced the completion of its over-subscribed transferable rights offering, issuing 9,133,529 common shares for gross proceeds of $50,234,410. Shareholders could purchase shares at $5.50 each, with total subscriptions reaching approximately $118 million, or 236% of the shares available. New shares will be issued around April 25, 2022, and will qualify for the Fund's monthly distribution on May 23, 2022, but not for the April distribution. The Fund's total net assets will be approximately $397 million post-offering.