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

The Gabelli Global Utility & Income Trust (NYSE:GLU) announced a monthly dividend on Wednesday, February 19th,Wall Street Journal reports. Stockholders of record on Friday, June 13th will be given a dividend of 0.10 per share on Monday, June 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date is Friday, June 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 Up 0.2 %

Shares of GLU opened at $15.91 on Thursday. The company’s 50 day moving average price is $15.38 and its 200 day moving average price is $15.74. The Gabelli Global Utility & Income Trust has a 52 week low of $13.06 and a 52 week high of $17.44.

Insider Activity

In other news, insider Mario J. Gabelli sold 1,725 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $50.40, for a total transaction of $86,940.00. Following the transaction, the insider now owns 70,000 shares in the company, valued at $3,528,000. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

About The Gabelli Global Utility & Income Trust

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.