CHICAGO, June 14, 2018 /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
|
|
Record
Date
|
|
Payable
Date
|
6.5
|
|
July 31,
2018
|
|
August 10,
2018
|
6.5
|
|
August 31,
2018
|
|
September 10,
2018
|
6.5
|
|
September 28,
2018
|
|
October 10,
2018
|
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 June 11, 2018, together with the cumulative
distributions paid this fiscal year to date from the following
sources. The fiscal year is from November 1, 2017 to October 31, 2018. 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: May 2018
Distribution Amount Per Share of Common Stock:
$0.065
|
|
Distribution
Estimates
|
May 2018
|
Fiscal YTD
|
|
Per Share
Amount
|
% of Current
Distribution
|
Per Share
Amount
|
% of Cumulative
Distributions
|
Net Investment
Income
|
$0.021
|
32%
|
$0.150
|
33%
|
Net Realized
Short-Term
Capital Gains
|
-
|
-
|
-
|
-
|
Net Realized
Long-Term
Capital Gains
|
-
|
-
|
0.269
|
59%
|
Return of Capital (or
Other
Capital Source)
|
0.044
|
68%
|
0.036
|
8%
|
Total
(per common
share)
|
$0.065
|
100%
|
$0.455
|
100%
|
April 30,
2018
|
|
Average annual total
return* on NAV for the 5 years ended
|
7.56%
|
Annualized current
distribution rate as a percentage of NAV
|
8.64%
|
Cumulative total
return on NAV for the fiscal YTD
|
-5.60%
|
Cumulative fiscal
year distributions as a percentage of NAV
|
4.32%
|
* 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 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, visit
www.dnpselectincome.com or call (800) 864-0629.
About the Investment Adviser
Duff & Phelps Investment Management Co. has more than 39
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 $89.1 billion under management as of March 31, 2018. 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.
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SOURCE DNP Select Income Fund Inc.