Gabelli Global Utility & Income Trust Series B, Cumulative Puttable/Callable Preferred Shares

For year 1 (11/2018-11/2019) the coupon will be 7%. During the last dividend period of year 1 the coupon will be announced by the board of directors for years 2 and 3. During the last dividend period in year 3 (2021) the board of directors will determine the coupon for the balance of the time this issue remains outstanding. All dividend (coupon) resets will be at least 200 basis points (2%) over the 10 year treasury and the coupon will not be less than 4% nor more than 7%. The fund will redeem all shares properly “put” to it during the 30 days prior to 12/26/2021 and 12/26/2023. The redemption is at $50/share plus accrued dividends.

As of 7/2019 the shares pay 7%, BUT this will be reset in the next 3 months

For 2020 the coupon will be 4%

Effective 9/26/2023 the interest rate is 5.2%. Additionally the company has announced an additional ‘put date’. Investors may put the shares back to the company in the 60 day period prior to 12/26/2024

Dividends Paid by Closed End Fund Preferreds may be qualified or may not be qualified distributions. Investors should check the issuer info closely to see what the current dividend status is at the time of investment

Gabelli Global Utility Fund announced additional ‘put dates’ during which shares may be put back to the company for $50.00/share. The dates are 60 days periods ending on 6/28/2025, 12/26/2025, 6/26/2026, 12/26/2026 and 6/26/2027 after which the shares become perpetual.

As of 12/31/2024 there are 505,000 shares outstanding