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About the Fund
DTF Tax-Free Income Inc. is a closed-end diversified investment management company whose investment objective is current income exempt from regular federal income tax consistent with preservation of capital. The fund seeks to achieve its investment objective by investing in a diversified portfolio of investment-grade tax-exempt obligations. For more information, visit www.dpimc.com/dtf or call (800) 338-8214.
About the Investment Adviser
Duff & Phelps Investment Management Co. has more than 40 years of experience managing investment portfolios, including institutional separate accounts and open- and closed-end funds investing in utilities, infrastructure and real estate investment trusts (REITs). For more information, visit www.dpimc.com.
DNP Select Income Fund Announces Dividends And Sources Of Distribution
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CHICAGO, March 8, 2021 /PRNewswire/ The Board of Directors of DNP Select Income Fund Inc. (NYSE: DNP), a closed-end fund advised by Duff & Phelps Investment Management Co., today authorized the payment of dividends on its common stock as follows:
Cents Per Share
July 12, 2021
The Fund adopted a Managed Distribution Plan (the Plan ) in 2007 to maintain its current 6.5 cent per share distribution rate. Under the Plan, the Fund will distribute all available investment income to its shareholders, consistent with the Fund s primary objective. If and when sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital to its shareholders in order to maintain the 6.5 cent per share distribution level.
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CHICAGO, March 8, 2021 /PRNewswire/ DNP Select Income Fund Inc. (NYSE: DNP) (the Fund ) today announced that the merger of Duff & Phelps Utility and Corporate Bond Trust Inc. (NYSE: DUC) with and into DNP has been completed. The combined fund retains DNP s name and ticker symbol, as well as DNP s investment objectives, strategies and policies. This transaction was previously announced on November 23, 2020. DUC shareholders approved the merger on February 22, 2021.
DUC shares ceased trading on the NYSE at the close of business on Friday, March 5, 2021. Prior to the opening of today s trading session on the NYSE, each share of DUC common stock was converted into the number of shares of DNP common stock equal to the ratio of the net asset value (NAV) per share of DUC common stock to the NAV per share of DNP common stock at the close of business on the NYSE on Friday, March 5, 2021:
June 30, 2021
The Fund adopted a Managed Distribution Plan (the Plan ) in 2015 to maintain its current 35 cents per share distribution rate. Under the Plan, the Fund will distribute all available investment income to its shareholders, consistent with the Fund s investment objective. If and when sufficient investment income is not available on a quarterly basis, the Fund will distribute realized capital gains and/or return of capital to its shareholders in order to maintain the 35 cents per share distribution level.
The following table sets forth the estimated amounts of the Fund s March quarterly distribution to shareholders of record at the close of business on March 15, 2021 (ex-date March 12, 2021), payable March 31, 2021, together with the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed per share of common stock based on U.S. generally accepted accounting principles which may differ from federal income tax regulation