Gabelli Global Utility & Income Trust Continues Monthly Distributions, Declaring Distributions of $0.10 per Share

  Gabelli Global Utility & Income Trust Continues Monthly Distributions,
  Declaring Distributions of $0.10 per Share

Business Wire

RYE, N.Y. -- February 27, 2014

The Board of Trustees of The Gabelli Global Utility & Income Trust (NYSE
MKT:GLU) (the “Fund”) approved the continuation of its policy of paying fixed
monthly cash distributions. The Board of Trustees declared cash distributions
of $0.10 per share for each of April, May, and June 2014.

The distribution for April 2014 will be payable on April 23, 2014 to common
shareholders of record on April 15, 2014.

The distribution for May 2014 will be payable on May 22, 2014 to common
shareholders of record on May 15, 2014.

The distribution for June 2014 will be payable on June 23, 2014 to common
shareholders of record on June 16, 2014.

Under the Fund’s initial distribution policy, the Fund pays a minimum annual
distribution of 6% of the initial public offering price of $20.00 per share.
Pursuant to this policy, the Fund intends to pay a distribution of $0.10 per
share each month and, if necessary, an adjusting distribution in December
which includes any additional income and net realized capital gains in excess
of the monthly distributions for that year to satisfy the minimum distribution
requirements of the Internal Revenue Code for regulated investment companies.

Each quarter, the Board of Trustees reviews the amount of any potential
distribution from the income, realized capital gain, or capital available. The
Board of Trustees will continue to monitor the Fund’s distribution level,
taking into consideration the Fund’s net asset value and the financial market
environment. The Fund’s distribution policy is subject to modification by the
Board of Trustees at any time, and there can be no guarantee that the policy
will continue. The distribution rate should not be considered the dividend
yield or total return on an investment in the Fund.

All or part of the distribution may be treated as long-term capital gain or
qualified dividend income (or a combination of both) for individuals, each
subject to the maximum federal income tax rate, which is currently 20% in
taxable accounts for individuals. In addition, certain U.S. shareholders who
are individuals, estates or trusts and whose income exceeds certain thresholds
will be required to pay a 3.8% Medicare tax on their "net investment income",
which includes dividends received from the Fund and capital gains from the
sale or other disposition of shares of the Fund.

If the Fund does not generate sufficient earnings (dividends and interest
income and realized net capital gain) equal to or in excess of the aggregate
distributions paid by the Fund in a given year, then the amount distributed in
excess of the Fund’s earnings would be deemed a return of capital. Since this
would be considered a return of a portion of a shareholder’s original
investment, it is generally not taxable and is treated as a reduction in the
shareholder’s cost basis. Under federal tax regulations, some or all of the
return of capital distributed by the Fund may be taxable as ordinary income in
certain circumstances. This may occur when the Fund has a capital loss carry
forward, net capital gains are realized in a fiscal year, and distributions
are made in excess of investment company taxable income.

Long-term capital gains, qualified dividend income, ordinary income, and
return of capital, if any, will be allocated on a pro-rata basis to all
distributions to common shareholders for the year. Based on the accounting
records of the Fund as of February 14, 2014, each of the distributions paid to
common shareholders in 2014 would include approximately 2% from net investment
income, 45% from net capital gains and 53% would be a return of capital on a
book basis. The estimated components of each distribution are updated and
provided to shareholders of record in a notice accompanying the distribution
and are available on our website (www.gabelli.com). The final determination of
the sources of all distributions in 2014 will be made after year end and can
vary from the monthly estimates. All shareholders with taxable accounts will
receive written notification regarding the components and tax treatment for
all 2014 distributions in early 2015 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges,
and expenses of the Fund before investing. More information regarding the
Fund’s distribution policy and other information about the Fund is available
by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com.

The Gabelli Global Utility & Income Trust is a non-diversified, closed-end
management investment company with $144 million in total net assets whose
primary investment objective is to seek a consistent level of after-tax total
return for its investors with an emphasis on tax-advantaged dividend income
under current tax law. The Fund is managed by Gabelli Funds, LLC, a subsidiary
of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed
company.

Contact:

The Gabelli Global Utility & Income Trust
Adam Tokar or David Schachter, 914-921-5070
 
Press spacebar to pause and continue. Press esc to stop.