The Board of Trustees of The Gabelli Global Utility & Income Trust (Amex:GLU) approved the
continuation of monthly cash distributions of $0.10 per share for October, November, and
Under the Gabelli Global Utility & Income Trust's 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 pays $0.10 per share in the first eleven months of the year and an
adjusting distribution in December which includes, if necessary, 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. Each quarter, the Board
of Trustees reviews the amount of any potential distribution based on the income, capital
gains, or capital available. The Fund's distribution policy is subject to modification by
the Board of Trustees at any time.
The distribution for October 2006 will be payable on October 25, 2006 to shareholders of
record on October 17, 2006.
The distribution for November 2006 will be payable on November 24, 2006 to shareholders of
record on November 15, 2006.
The distribution for December 2006 will be payable on December 22, 2006 to shareholders of
record on December 14, 2006.
A portion of the distribution may be treated as long-term capital gain and qualified dividend
income for individuals, each subject to the maximum Federal income tax rate, which is currently
15% in taxable accounts for individuals. If the Fund does not generate earnings from dividends,
interest, and net realized capital gains equal to or in excess of the aggregate distributions
paid by the Fund for the year, then the amount distributed in excess of the Fund's investment
income and net realized capital gains will be deemed a non-taxable return of capital.
Long-term capital gains, qualified dividend income, ordinary income, and paid-in capital, if any,
will be allocated on a pro-rata basis to all distributions to common shareholders for the year.
As of August 17, 2006, the date of this press release, each of the distributions paid in 2006
would include approximately 53% from net investment income, 28% from net capital gains, and 19%
from paid-in capital. The estimated components of each distribution are 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 2006 will be made after year-end.
All shareholders with taxable accounts will receive written notification regarding the components
and tax treatment for all 2006 distributions in early 2007 via Form 1099-DIV.
The Gabelli Global Utility & Income Trust is a non-diversified, closed-end management investment
company with $68 million in total assets whose primary investment objective is to seek a consistent
level of after-tax total return over the long-term with an emphasis currently 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.