GABELLI UTILITY TRUST - GUT STOCK NEWS

The Gabelli Utility Trust (NYSE:GUT) has approved the continuation of its fixed monthly cash distributions, declaring a distribution of $0.05 per share for January, February, and March 2023. The record and payable dates for these distributions have been set for mid-January, February, and March 2023. The total net assets of the Fund amount to $345 million. While the Fund has maintained monthly distributions since October 1999, the Board warns that its current trading premium over net asset value may not be sustainable. This policy is subject to change.

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.

The Gabelli Utility Trust (NYSE:GUT) has announced a transferable rights offering for common shareholders on the record date of March 10, 2022. Each shareholder will receive one right per share held, allowing them to purchase additional shares at $5.50 per share, requiring seven rights for each purchase. The rights will trade starting March 8, 2022, and will expire by 5:00 PM ET on April 19, 2022. Proceeds may be used for investment or redeeming preferred shares. This offering does not entitle new shares to forthcoming distributions on March 24 and April 22, 2022.

The Gabelli Utility Trust (NYSE:GUT) has reaffirmed its commitment to fixed monthly cash distributions, declaring $0.05 per share for April, May, and June 2022. The record and payable dates for these distributions are set for April 14 and 22, May 16 and 23, and June 15 and 23, respectively. The Trust, with $337 million in net assets, continues to explore strategic investment opportunities while monitoring market conditions. The Board emphasizes that the premium of the Fund's shares over net asset value may not last. The Trust has maintained monthly payouts since October 1999.

The Gabelli Utility Trust (NYSE:GUT) announced the redemption of all outstanding 5.625% Series A Cumulative Preferred Shares, effective January 31, 2022. The shares will be redeemed at $25.13671875 each, which includes the liquidation preference of $25.00 plus $0.13671875 in unpaid dividends. Post-redemption, these shares will cease to be outstanding, and dividends will no longer accumulate. The shares, rated 'A1' by Moody's, will be redeemed through the Depository Trust Company, with Computershare Trust Company acting as the paying agent. The Gabelli Utility Trust focuses on long-term capital and income growth through investments in utility companies.

The Gabelli Utility Trust (NYSE:GUT) has approved the redemption of all outstanding 5.625% Series A Cumulative Preferred Shares. The redemption price is set at $25.00 per share, plus any accumulated and unpaid dividends. The specific redemption date will be announced later. Following this, dividends on the shares will cease, and the rights of shareholders regarding these preferred shares will terminate, except for the right to receive the redemption amount. The preferred shares, rated 'A1' by Moody's, have been traded since July 28, 2003, and yield an annual dividend of $1.40625 per share.

The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) has approved fixed monthly cash distributions of $0.05 per share for January, February, and March 2022. The record and payable dates for these distributions have been specified. The Board continues to explore strategic opportunities in the equity market and will assess distribution levels quarterly based on the Fund’s financial health. Since October 1999, monthly distributions have been consistently made, although the current share price trades at a premium to net asset value, raising some sustainability concerns.