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Gabelli Global Utility & Income Trust, Series B Cumul Put/Call Preferred Shares
Ticker Symbol: GLU-B CUSIP: 36242L303 Exchange: AMEX
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April 28, 2025 -- 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.
Nov. 18, 2024 -- The Board of Trustees of the Gabelli Global Utility & Income Trust (NYSE American: GLU) (the “Fund”) has approved June 26, 2025 as an additional put date 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 December 26, 2024 and June 26, 2025, 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. August 25, 2023 -- 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.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: The Gabelli Global Utility & Income Trust, Series B Cumulative Puttable and Callable Preferred Shares, liquidation preference $50 per share, redeemable at the issuer's option on or after 12/20/2023 12/26/2024 at $50 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions will be paid quarterly on 3/26, 6/26, 9/26, & 12/26 to holders of record on the record date that will be on the fifth preceding business day of the payment date (NOTE: the ex-dividend date is the record date). The Dividend Period beginning on the Date of Original Issue, which constitutes the first Dividend Period, together with the next three Dividend Periods, are referred to herein as Year 1, the next four Dividend Periods are referred to as Year 2, and so on. For the Dividend Periods occurring in Year 1, quarterly dividends to be paid at an annualized rate of 7.00%. The Board will announce within 30 days prior to the end of such Dividend Period a fixed annual dividend rate that will apply for the Dividend Periods occurring in Year 2 and Year 3. During the last Dividend Period occurring in Year 3, the Board will announce 30 days prior to the end of such Dividend Period a fixed annual dividend rate that will apply for all remaining Dividend Periods. In no case will the annual dividend rate be less than 4.00% or greater than 7.00%. Dividends paid by preferreds issued by closed-end funds can be 0% to 100% eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and can also be 0% to 100% eligible for the dividends received deduction for corporate holders (see page 102 of the prospectus for further information). Holder Put Option: The Fund will redeem the Preferred Shares that holders have submitted for redemption during the 30-day period prior to each of 12/26/2021, 12/26/2023 and 12/26/2024 at the liquidation preference, plus any accumulated and unpaid dividends. This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GLU)
IPO - 11/9/2018 - 1.37 Million Shares @ $50.00 /share.
Link to IPO Prospectus
Market Value $ Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Corporate Center, Rye, NY 10580 |
| Main Phone Number |
914-921-5100 |
| Fax Number |
914-921-5392 |
| Shareholder Services
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800-336-6983
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| Toll Free Phone Number |
800-422-3554 |
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