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) 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
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
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.
The Gabelli Global Utility & Income Trust (NYSE American: GLU) has announced a transferable rights offering for its record date common shareholders. Each shareholder will receive one right for each common share held, allowing them to purchase additional shares at a subscription price of $16.00 for every four rights. The offering will begin trading on May 10, 2022, with an expiration date of June 23, 2022. The Fund, managing $160 million in net assets, aims to provide consistent after-tax returns with a focus on tax-advantaged dividend income.
The Gabelli Global Utility & Income Trust (NYSE American: GLU) has confirmed its policy of fixed monthly cash distributions, declaring a consistent amount of
The Gabelli Global Utility & Income Trust (NYSE American: GLU) has confirmed its fixed monthly cash distributions for January, February, and March 2022, maintaining a $0.10 per share payout. The Fund's distribution policy, which targets a minimum annual distribution of 6% based on an initial price of $20.00 per share, will be reviewed quarterly by the Board of Trustees. If earnings do not cover distributions, the excess will be classified as a return of capital. The Fund has $177 million in net assets and is managed by Gabelli Funds, LLC.
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