Gabelli Utility Trust to Redeem Its Outstanding 5.625% Series A Cumulative Preferred Shares
RYE, N.Y.–(BUSINESS WIRE)–The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) (the “Fund”) authorized the redemption of all outstanding 5.625% Series A Cumulative Preferred Shares (the “Series A Preferred Shares’). The redemption date will be announced at a later date. The redemption price is $25.00 per Series A Preferred Share, plus an amount equal to any accumulated and unpaid dividends to the redemption date.
As of the redemption date, the Series A Preferred Shares 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.
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 the related materials should be directed to the Fund at 800-GABELLI (800-422-3554) or (914) 921-5070.
About The Gabelli Utility Trust
The Gabelli Utility Trust is a diversified, closed-end management investment company with $375 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
Contacts
David Schachter
(914) 921-5057
