Gabelli Global Utility & Income Trust Increases Dividend Rate on Series B Preferred to 5.20% and Announces Additional Put Date

August 25, 2023 at 07:00 AM EDT

RYE, N.Y., Aug. 25, 2023 (GLOBE NEWSWIRE) -- The Board of Trustees (the “Board”) of The Gabelli Global Utility & Income Trust (NYSE American: GLU) (the “Fund”) is pleased to announce an increase in the annual dividend rate on the Fund’s Series B Cumulative Puttable and Callable Preferred Shares (the “Series B Preferred”), to 5.20%, effective September 26, 2023 for the quarterly dividend payable on December 26, 2023.

The Board also approved an additional put date on December 26, 2024.

The Series B Preferred may be put back to the Fund at the liquidation preference of $50.00 per share, plus any accumulated and unpaid dividends, during the 60-day period prior to December 26, 2023, and now it has a second put date on December 26, 2024. Currently the Series B Preferred becomes perpetual after December 26, 2023, and is callable any time thereafter. Now, the Series B Preferred will become PERPETUAL after the additional put date of December 26, 2024.

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 Trust
The Gabelli Global Utility & Income Trust is a diversified, closed-end management investment company with $149 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 PrB
CUSIP – 36242L303

For information:
Adam Tokar
(914) 457-1079