Gabelli Global lifts dividend rate on series A preferreds to 3.8%

By Marisa Wong

Morgantown, W.Va., April 14 – Gabelli Global Utility & Income Trust increased the annual dividend rate to 3.8% for its series A preferred shares, according to a press release.

The new rate is effective for all dividend periods after the period ending June 27.

The dividend payment on June 27 remains $0.375 per share. The first dividend payment at the reset annual rate of $1.90 per share ($0.475 per share on a quarterly basis) will be payable on Sept. 26.

The series A preferreds trade on the NYSE MKT under the symbol “GLU Pr A” and were issued on June 19, 2013 at $50.00 per share.

The preferreds are non-callable prior to June 19, 2018. During the 30-day period prior to June 26, 2018, shareholders may put any or all of their series A preferreds at the liquidation preference plus any accumulated and unpaid dividends.

Gabelli Global Utility & Income Trust is a Rye, N.Y.-based non-diversified, closed-end management investment company. The fund is managed by Gabelli Funds, LLC, a subsidiary of Gamco Investors, Inc.

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