Gabelli Utility Trust to Redeem Its Outstanding 5.625% Series A Cumulative Preferred Shares
30 Diciembre 2021 - 3:15PM
Business Wire
The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT)
(the “Fund”) authorized the redemption of all remaining outstanding
5.625% Series A Cumulative Preferred Shares (the “Series A
Preferred Shares’). The Series A Preferred Shares will be redeemed
at $25.13671875 per share (the “Redemption Price”), which consists
of $25.00 per share (the “Liquidation Preference”) plus $0.13671875
per share representing accumulated but unpaid dividends and
distributions to the redemption date of January 31, 2022 (the
“Redemption Date”).
From and after the Redemption Date, the Series A Preferred
Shares being redeemed will no longer be deemed outstanding,
dividends will cease to accumulate and all the rights of the
holders of the Series A Preferred Shares with respect to the Series
A Preferred Shares will cease, except the right to receive the
Redemption Price, without interest.
All of the Series A Preferred Shares are held in book-entry form
through the Depository Trust Company ("DTC") and shares will be
redeemed in accordance with the procedures of DTC. Payment to DTC
for the Series A Preferred Shares will be made by Computershare
Trust Company, N.A., as paying agent for this redemption.
The Series A Preferred Shares, which trade on the New York Stock
Exchange under the symbol “GUT Pr A”, are rated “A1” by Moody’s
Investors Service and have an annual dividend rate of $1.40625 per
share. The Series A Preferred Shares were issued on July 28, 2003
at $25.00 per share and pay distributions quarterly.
Questions relating to, and requests for additional copies of,
the notice of redemption and related materials may be directed
to:
David Schachter (914) 921-5057
About The Gabelli Utility Trust
The Gabelli Utility Trust is a diversified, closed-end
management investment company with $376 million in total net assets
whose primary investment objective is to seek long-term growth of
capital and income by investing primarily in utility companies
involved in the generation and distribution of electricity, gas,
and water. The Fund is managed by Gabelli Funds, LLC, a subsidiary
of GAMCO Investors, Inc. (NYSE:GBL).
NYSE – GUT CUSIP – 36240A101 NYSE – GUT Pr A CUSIP –
36240A200
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David Schachter (914) 921-5057
Gabelli Utility (NYSE:GUT)
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