The Gabelli Global Utility & Income Trust (NYSE:GLU) to Issue Monthly Dividend of $0.10

The Gabelli Global Utility & Income Trust (NYSE:GLU) declared a monthly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Thursday, February 13th will be paid a dividend of 0.10 per share on Friday, February 21st. This represents a $1.20 annualized dividend and a dividend yield of 7.67%. The ex-dividend date of this dividend is Thursday, February 13th.

The Gabelli Global Utility & Income Trust has raised its dividend by an average of 2.2% annually over the last three years.

The Gabelli Global Utility & Income Trust Stock Performance

NYSE:GLU opened at $15.64 on Tuesday. The business has a 50 day simple moving average of $15.46 and a 200 day simple moving average of $15.70. The Gabelli Global Utility & Income Trust has a 12-month low of $13.06 and a 12-month high of $17.44.

Insider Buying and Selling at The Gabelli Global Utility & Income Trust

In other news, insider Mario J. Gabelli sold 4,275 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $50.40, for a total transaction of $215,460.00. Following the sale, the insider now directly owns 71,725 shares of the company’s stock, valued at $3,614,940. The trade was a 5.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

The Gabelli Global Utility & Income Trust Company Profile

The Gabelli Global Utility & Income Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It primarily invests in stocks of companies involved to a substantial extent in providing products, services, or equipment for the generation or distribution of electricity, gas, or water and infrastructure operations, and in equity securities including preferred securities of companies in other industries, in each case in such securities that are expected to pay periodic dividends.