Allspring Utilities and High Income Fund
ERH
New York Stock Exchange American- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Timothy Paul O'Brien
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 525 Market Street Charlotte NC United States of America 94105
- IPO Date
- Apr 28, 2004
- CIK
- 0001279014
- Similar Companies
- Business
- Allspring Utilities and High Income Fund (NYSE American: ERH) is a diversified closed-end management investment company that seeks a high level of current income and moderate capital growth with an emphasis on providing tax-advantaged dividend income. The fund allocates approximately 70% of its total assets to an equity sleeve focused on common stocks, preferred stocks, and convertible preferred stocks of utility companies including those providing electricity transmission and generation, natural gas distribution, water, and sewage services; the remaining 30% is allocated to a high yield bond sleeve comprising U.S. dollar-denominated below-investment-grade debt securities such as bonds, debentures, and other income obligations rated B to BB at purchase, with no more than 10% in CCC or below-rated securities. It may employ leverage through a revolving credit facility, up to 25% of assets in foreign securities, derivatives for hedging, and other techniques including loans and structured securities; shares trade on the NYSE American and are available only at market price, which may trade at a premium or discount to net asset value. The fund was originally launched on April 28, 2004, as a Wells Fargo fund and is managed by Allspring Funds Management, LLC (adviser) and Allspring Global Investments, LLC (subadviser), with portfolio managers Kent Newcomb, CFA, Michael J. Schueller, CFA, and Andy Smith, CFA; it is headquartered in Menomonee Falls, Wisconsin, with primary operations in the U.S. and minor exposure to North America (97%) and Europe (3%). Recent developments include the renewal of its open-market share repurchase program on November 14, 2024, authorizing repurchases of up to 5% of outstanding shares through December 31, 2025, under the discretion of the adviser; ongoing monthly distributions pursuant to a managed distribution plan at an 8% annual minimum fixed rate based on average monthly NAV over the prior 12 months, with recent increases such as to $0.0634 per share and latest payments around $0.08325 as of November 2025; announcements of portfolio management team changes for Allspring closed-end funds including ERH in July and October 2025; and a proxy statement filing in October 2024, alongside sustained leverage at approximately 20.72% of total assets as of August 31, 2025.