GLU-B Gabelli Global Utility and Income Trust Series B Cumulative Puttable and Callable Preferred
The Series B Preferred will pay distributions quarterly at an annualized dividend rate of 7.00% of the $50.00 per share liquidation preference of the Series B Preferred for the quarterly dividend periods ending on or prior to December 26, 2019 (“Year 1”). At least 30 days prior to the end of Year 1, the Board will determine and publicly announce a reset fixed dividend rate that will apply for the next eight quarterly dividend periods (“Year 2” and “Year 3”). At least 30 days prior to the end of Year 3, the Board will determine and publicly announce a reset fixed dividend rate that will apply for all remaining quarterly dividend periods. Each reset dividend rate will be determined by the Board or a committee thereof in its sole discretion, and such rate will be at least 200 basis points over the yield of the ten year U.S. Treasury Note at the date of determination, but in no case will such rate be less than an annualized rate of 4.00% nor greater than an annualized rate of 7.00%. The Series B Preferred may be put back to the Fund during the 30-day period prior to each of December 26, 2021 and December 26, 2023 at the liquidation preference of $50.00 per share, plus any accumulated and unpaid dividends, and redeemed by the Fund, at its option, at the liquidation preference of $50.00 per share, plus any accumulated and unpaid dividends, at any time commencing on December 26, 2023. This security was issued by Gabelli Global Utility & Income Trust CEF, whose common stock symbol is GLU.
$49.85 +0.15 (0.30%)
As of 03/24/2023 16:00:00 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Financials
Industry:
Index country: USA
Country of incorporation:
IPO date: 12/20/2018
Outstanding shares: 1,370,433
Average volume: 1,500
Market cap: $68,754,624
Current dividend yield: 3.99% calculation
Initial coupon rate: 7.000%
Cumulative: Yes
Liquidation value: $50.00
Callable after: 12/26/2023
Maturity date: n/a - perpetual
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: