Gabelli Global Utility & Income Trust Continues Monthly Distributions, Announcing Distributions of $0.10 Per Share

The Board of Trustees of The Gabelli Global Utility & Income Trust (NYSE American:GLU) (the Fund) approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees announced cash distributions of $0.10 per share for each of January, February, and March 2019.

The distribution for January 2019 will be payable on January 24, 2019 to common shareholders of record on January 16, 2019.

The distribution for February 2019 will be payable on February 21, 2019 to common shareholders of record on February 13, 2019.

The distribution for March 2019 will be payable on March 22, 2019 to common shareholders of record on March 15, 2019.

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Under the Funds initial distribution policy, the Fund has paid a minimum annual distribution of 6% of the initial public offering price of $20.00 per share (a distribution of $0.10 per share each month).

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 Funds distribution level, taking into consideration the Funds net asset value and the financial market environment. If necessary, the Fund will pay 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. The Funds 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 (or less depending on an individuals tax bracket). 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 surcharge 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 Funds earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholders original investment, it is generally not taxable and would be treated as a reduction in the shareholders cost basis.

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 currently available, each of the distributions paid to common shareholders in 2018 would be approximately 38% from net investment income, 50% from net capital gains and 12% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. 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 2019 will be made after year end and can vary from the monthly estimates. Shareholders should not draw any conclusions about the Funds investment performance from the amount of the current distribution. All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2019 distributions in early 2020 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding the Funds 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 $85 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).

Adam Tokar
(914) 921-5070

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