Welcome to our dedicated page for The Gabelli Utility & Income Trust news (Ticker: GLU), a resource for investors and traders seeking the latest updates and insights on The Gabelli Utility & Income Trust stock.
The Gabelli Utility & Income Trust (GLU) is a non-diversified, closed-end management investment company, focusing on generating a consistent level of after-tax total return. The Fund predominantly invests in companies that play a critical role in the utility sector, including those involved in the generation, distribution, and infrastructure of electricity, gas, and water.
Formed under the umbrella of Gamco Investors, Inc., which was founded by Mario J. Gabelli in 1977, GLU benefits from a robust research-driven approach to equity investing. Gamco is well-known for its proprietary Private Market Value (PMV) with a Catalyst™ stock selection strategy, ensuring a meticulous selection of securities expected to pay periodic dividends.
As of December 31, 2016, Gamco Investors, Inc. had $39.7 billion in assets under management (AUM), with 95% invested in equities. The company's investment advisory services are offered through two primary registered investment advisers: Gamco Asset Management Inc. (focused on institutional and private wealth management) and Gabelli Funds, LLC (focused on funds). Additionally, G.Distributors, LLC serves as the underwriter and distributor for Gamco's open-end funds.
GLU leverages these resources to invest in equity and preferred securities of companies across various industries, aiming to deliver reliable and consistent returns to shareholders. The Fund’s strategic approach and investment in high-quality, dividend-paying securities make it a noteworthy entity in the investment landscape.
The Gabelli Global Utility & Income Trust (NYSE American: GLU) Board has approved June 26, 2025 as an additional put date for Series B Cumulative Puttable and Callable Preferred Shares. The Series B Preferred, trading under GLU Pr B, offers a 5.20% annual dividend rate. Shareholders can put their shares during 60-day periods ending December 26, 2024 and June 26, 2025, after which the shares become perpetual. Originally issued at $50.00 per share on December 19, 2018, the preferred shares are callable at the liquidation value of $50.00 plus accrued dividends.
The Gabelli Global Utility & Income Trust (NYSE American: GLU) announced the continuation of its fixed monthly cash distributions policy. The Board of Trustees declared distributions of $0.10 per share for January, February, and March 2025. 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. The current distribution composition includes approximately 17% from net investment income and 83% return of capital based on 2024 accounting records. The Board regularly reviews potential distributions from income, realized capital gains, or available capital.
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.
The Board of Trustees of Gabelli Global Utility & Income Trust (NYSE American: GLU) announced the continuation of its fixed monthly cash distributions, declaring $0.10 per share for July, August, and September 2024. These distributions maintain the Fund's policy of paying a minimum annual distribution of 6% of the initial public offering price of $20.00 per share. The Board reviews the distribution amount quarterly, considering the Fund's net asset value and market conditions. If necessary, an adjusting distribution may be paid in December. The Fund's distribution rate is not indicative of dividend yield or total return. The distributions for 2024 are expected to include 3% from net investment income, 1% from net capital gains, and 96% as a return of capital. Shareholders will receive tax-related information regarding these distributions in early 2025.
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