StockNews.AI
GLU
StockNews.AI
113 days

Gabelli Global Utility & Income Trust Announces Additional Put Dates for Series B Preferred Shares

1. Gabelli Trust adds new put dates for Series B Preferred shareholders. 2. Annual dividend rate on Series B Preferred shares is set at 5.20%. 3. Shareholders can sell shares back to the Trust until June 2027. 4. Shares callable at liquidation value plus accrued dividends post-notification. 5. Gabelli Trust targets consistent after-tax returns with a focus on dividends.

3m saved
Insight
Article

FAQ

Why Bullish?

The issuance of put options could enhance shareholder confidence, driving demand.

How important is it?

The additional put options may attract new investments by increasing security for shareholders.

Why Long Term?

The prolonged availability of put dates until 2027 solidifies long-term investment appeal.

Related Companies

GAMI
RYE, N.Y., April 28, 2025 (GLOBE NEWSWIRE) -- The Board of Trustees of the Gabelli Global Utility & Income Trust (NYSE American: GLU) (the “Fund”) has approved additional put dates for the Series B Cumulative Puttable and Callable Preferred Shareholders (the “Series B Preferred”). The annual dividend rate of the Series B Preferred is 5.20%. Each Series B Preferred shareholder now has the right to put their shares to the Fund in each of the 60-day periods ending June 26, 2025, December 26, 2025, June 26, 2026, December 26, 2026 and June 26, 2027 after which the Series B preferred becomes perpetual. The Series B preferred shares are callable, after proper notification is given, at the liquidation value of $50.00 per share plus accrued dividends. As background, the Series B Preferred Shares, which trade on the NYSE American under the symbol “GLU Pr B”, were issued on December 19, 2018, at $50.00 per share. Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding this and other information about the Fund is available by calling 800-GABELLI (800-422-3554), visiting www.gabelli.com, or emailing ClosedEnd@gabelli.com. About The Gabelli Global Utility & Income TrustThe Gabelli Global Utility & Income Trust is a diversified, closed-end management investment company with $122 million in total net assets whose primary investment objective is to seek a consistent level of after-tax total return for its investors with an emphasis on tax-advantaged dividend income under current tax law. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI). NYSE American – GLU PrBCUSIP – 36242L303 For information:Adam Tokar(914) 457-1079 Investor Relations Contact:Adam Tokar(914) 457-1079atokar@gabelli.com

Related News