DNP Select Income Fund Announces Dividends And Sources Of Distribution

Mittwoch, 16.09.2020 23:05 von PR Newswire - Aufrufe: 62

PR Newswire

CHICAGO, Sept. 16, 2020 /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

Ex-Dividend Date

Record Date

Payable Date

6.5

October 29, 2020

 October 30, 2020

November 10, 2020

6.5

November 27, 2020

November 30, 2020

December 10, 2020

6.5

December 30, 2020

December 31, 2020

January 11, 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.

The following table sets forth the estimated amounts of the Fund's current monthly distribution, payable September 10, 2020, together with the cumulative distributions paid this fiscal year to date from the following sources.  The fiscal year is from November 1, 2019 to October 31, 2020.  All amounts are expressed per share of common stock based on U.S. generally accepted accounting principles, which may differ from federal income tax regulations.

Notification of Sources of Distribution
Distribution Period: August 2020
Distribution Amount Per Share of Common Stock:  $0.065

Distribution Estimates

August 2020

Fiscal YTD


 

Per Share Amount

% of Current Distribution

Per Share Amount

% of Cumulative Distributions

Net Investment Income

$0.019

29%

$0.202

31%

Net Realized Short-Term Capital Gains

-

-

-

-

Net Realized Long-Term Capital Gains

0.003

4%

0.338

52%

Return of Capital (or Other Capital Source)

0.043

67%

0.110

17%

Total

(per common share)

$0.065

100%

$0.650

100%

 

July 31, 2020


Average annual total return* on NAV for the 5 years ended

9.02%

Annualized current distribution rate as a percentage of NAV

8.59%

Cumulative total return on NAV for the fiscal YTD

-8.02%

Cumulative fiscal year distributions as a percentage of NAV

6.44%

* Simple arithmetic average of each of the past five annual returns.

You should not necessarily draw any conclusions about the Fund's investment performance from the amount of these distributions or from the terms of the Fund's Plan.

The amounts and sources of distributions reported in this notice are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of the fiscal year and may be subject to changes based on tax regulations.  The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The Fund will issue a separate 19(a) notice at the time of each monthly distribution using the most current financial information available. 

About the Fund

DNP Select Income Fund Inc. is a closed-end diversified investment management company whose primary investment objectives are current income and long-term growth of income. The fund seeks to achieve these objectives by investing primarily in a diversified portfolio of equity and fixed income securities of companies in the public utilities industry. For more information, please visit www.dpimc.com/dnp or call (800) 864-0629.

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.

Duff & Phelps is a subsidiary of Virtus Investment Partners (NASDAQ: VRTS), a multi-boutique asset manager with $108.5 billion under management as of June 30, 2020.  Virtus provides investment management products and services to individuals and institutions through a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand.  Additional information can be found at www.virtus.com.

Cision View original content:http://www.prnewswire.com/news-releases/dnp-select-income-fund-announces-dividends-and-sources-of-distribution-301132694.html

SOURCE DNP Select Income Fund Inc.

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