DNP Select Income Fund Reports Fiscal Year Distribution Details
Notification of DNP Select Income Fund’s Recent Distributions
CHICAGO--Notification of Sources of Distribution has been released regarding the DNP Select Income Fund Inc.
Current Distribution Overview
The current distribution per share of common stock is set at $0.065, reflecting the Fund's commitment to providing returns to its investors. The distribution is scheduled for September 10, 2024, with a record date of August 31, 2024. This showcases a proactive approach from the Fund's management in maintaining transparency regarding income distribution.
Estimated Distribution Sources
The breakdown of the estimated amounts for the current distribution is crucial for shareholders. The table below outlines the sources of distribution for August 2024 along with cumulative totals for the fiscal year-to-date.
Distribution Estimates
The estimates include:
- Net Investment Income: $0.020 per share, accounting for 31% of the current distribution.
- Net Realized Long-Term Capital Gains: $0.020 per share, representing 30% of the current distribution.
- Return of Capital: $0.025 per share, which constitutes 39% of the current distribution.
- Total Distribution Amount: $0.065 per share, ensuring 100% of the distribution total is accounted for.
Performance Metrics
Understanding the averages is essential for assessing the Fund's performance. Key metrics indicate an average annual total return on NAV for the past five years is approximately 6.72%, while the annualized current distribution rate as a percentage of NAV stands at 9.64%. These outcomes reflect the consistent management and investment strategy employed by DNP Select Income Fund Inc.
Understanding Distribution Types
It is essential for investors to recognize that the Fund may distribute amounts that exceed its income and capital gains, indicating potential returns of capital. This return of capital does not imply a negative investment performance; rather, it could be part of normal operations where invested funds are returned to shareholders.
Tax Reporting Considerations
Shareholders should note that distribution amounts and sources indicated are estimates and may vary for tax reporting. Actual amounts relevant for your tax reporting will depend on the Fund's investment experience throughout the fiscal year and will be specified in Form 1099-DIV during tax reporting season.
About DNP Select Income Fund Inc.
DNP Select Income Fund Inc. (NYSE: DNP) operates as a closed-end diversified investment management company that focuses on generating current income while pursuing long-term growth. The Fund invests mainly in a broad selection of equity and fixed income securities of companies within the public utilities sector. This dual objective positions the Fund favorably for both income generation and capital appreciation.
Frequently Asked Questions
What is the current distribution amount for DNP Select Income Fund?
The current distribution amount is set at $0.065 per share of common stock.
When will the distribution be paid out?
The distribution is scheduled to be paid on September 10, 2024.
What are the primary investment objectives of DNP Select Income Fund?
The primary investment objectives are current income and long-term growth of income through investments in the public utilities sector.
How is the distribution amount sourced?
The distribution amount is derived from various sources, including net investment income, capital gains, and potential returns of capital.
How should I report distributions for tax purposes?
Distributions should be reported according to the information provided in Form 1099-DIV, which will detail the accurate amounts for tax purposes.
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