Key Developments: Gabelli Utility Trust (GUT)
6.88USD
23 May 2013
$-0.01 (-0.15%)
$6.89
$6.85
$6.88
$6.75
222,861
102,348
$8.30
$6.06
Latest Key Developments (Source: Significant Developments)
Gabelli Utility Trust Continues Monthly Distributions, Declaring Distributions Of $0.05 per Share
Gabelli Utility Trust announced that the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.05 per share for each of July, August, and September 2013. The distribution for July 2013 will be payable on July 24, 2013 to common shareholders of record on July 17, 2013. The distribution for August 2013 will be payable on August 23, 2013 to common shareholders of record on August 16, 2013. The distribution for September 2013 will be payable on September 23, 2013 to common shareholders of record on September 16, 2013. Full Article
Gabelli Utility Trust Declares Distributions Of $0.05 Per Share
Gabelli Utility Trust announced that Board of Trustees declared cash distributions of $0.05 per share for each of April, May, and June 2013. The distribution for April 2013 will be payable on April 23, 2013 to common shareholders of record on April 16, 2013. The distribution for May 2013 will be payable on May 23, 2013 to common shareholders of record on May 16, 2013. The distribution for June 2013 will be payable on June 21, 2013 to common shareholders of record on June 14, 2013. Full Article
Gabelli Utility Trust Completes Rights Offering Raising $54 Million
Gabelli Utility Trust announced the completion of its transferable rights offering in which the Fund will issue 8,993,873 common shares, totaling $53,963,238. Pursuant to the Offer, the Fund issued one transferable right (a Right) for each common share of the Fund to shareholders of record (record date shareholders) as of November 12, 2012. Holders of Rights were entitled to purchase one newly issued common share by submitting five Rights and $6.00 per share (the subscription price). The Offering was significantly over-subscribed. The Fund received subscriptions (including over-subscription requests) for over 10.6 million common shares, totaling approximately $63 million. The over-subscription requests exceeded the over-subscription shares available. As a result, the available over-subscription shares will be allocated pro rata among those fully exercising record date shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund. The new common shares will be issued on December 21, 2012. Common shares issued as a result of the Offer will not be record date shares for the Fund's monthly distribution to be paid on December 20, 2012 and will not be entitled to receive such distribution. Full Article
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