DNP Select Income Fund Unveils Latest Dividend Details

DNP Select Income Fund Announcements on Dividends

Recently, the Board of Directors of DNP Select Income Fund Inc. (NYSE: DNP) revealed important updates regarding its dividend payments. This closed-end fund, advised by Duff & Phelps Investment Management Co., is renowned for its commitment to delivering consistent returns to its shareholders. The authorization for dividend payments reflects the Fund's ongoing strategy to provide reliable income and value to its investors.

Details of the Dividend Payments

Following the Board's decision, dividends will be distributed at the rate of 6.5 cents per share. The payment schedule is structured as follows:

Scheduled Dividend Dates

The upcoming dividends will be allocated on specific dates: the ex-dividend date will be set for various points, including one scheduled for the end of October, another at the end of November, and a third at the end of December. Shareholders can expect payouts on these respective payable dates:

• 6.5 cents: Payable on November 12, 2024 (Ex-Dividend on October 31)
• 6.5 cents: Payable on December 10, 2024 (Ex-Dividend on November 29)
• 6.5 cents: Payable on January 10, 2025 (Ex-Dividend on December 31)

This structured approach enables the Fund to maintain its predefined distribution rate, ensuring that its shareholders receive a steady flow of income.

Managed Distribution Plan

The Fund adopted a Managed Distribution Plan back in 2007 with the aim of sustaining the 6.5 cent per share distribution rate. This plan involves distributing all available investment income to shareholders monthly. In instances where investment income may not cover the distribution rate, the Fund will utilize long-term capital gains or return of capital to meet the established distribution levels.

Sources of Distribution

As part of the recent updates, the Fund provided insights into the sources of its distributions. The current monthly distribution, which is processed on September 10, 2024, included amounts calculated based on U.S. generally accepted accounting principles. Recent estimates of distributions outline contributions from various sources, including:

• Net Investment Income: $0.020
• Net Realized Long-Term Capital Gains: $0.020
• Return of Capital: $0.025
• Total Distribution per share: $0.065

This clear breakdown of the sources reaffirms the Fund’s transparency and commitment to keeping its investors informed about their earnings.

Financial Performance Insights

DNP Select Income Fund Inc. aims for efficient management of its resources, seeking to balance the need for current income while ensuring long-term growth. As part of its recent performance metrics, here are some figures to consider:

• Average Annual Total Return (5 Years): 6.72%
• Annualized Current Distribution Rate as a Percentage of NAV: 9.64%
• Cumulative Total Return for the Fiscal Year to Date: 15.71%
• Distributions This Fiscal Year as a Percentage of NAV: 5.62%

These figures highlight the Fund’s ongoing efforts to deliver value and growth to its stakeholders.

Understanding Your Distributions

It’s crucial to recognize that the amounts and sources of distributions released by the Fund are estimates and not definitive for tax reporting purposes. Shareholders will receive a Form 1099-DIV summarizing how to report these distributions on their federal income tax returns. The Fund remains dedicated to providing timely updates, including a separate 19(a) notice at each monthly distribution date, ensuring all stakeholders receive necessary information promptly.

About DNP Select Income Fund Inc.

DNP Select Income Fund Inc. stands as a closed-end diversified investment management company with a focus on generating current income and ensuring long-term income growth. By investing in a diversified portfolio within the public utilities sector, the Fund strives to meet its investment goals effectively. For further details, shareholders and interested parties can reach out to the Fund directly.

About the Investment Manager

Duff & Phelps Investment Management Co., an affiliate of Virtus Investment Partners, Inc., has been a leader in asset management since its inception as a fundamental research firm in 1932. Committed to enhancing client results, the firm utilizes quality-driven approaches across various investment strategies, including real estate securities, infrastructure, energy, and clean energy.

Frequently Asked Questions

1. What is the current dividend rate for DNP Select Income Fund?

The current dividend rate is set at 6.5 cents per share.

2. When will the next dividends be paid?

The upcoming dividends will be paid on dates including November 12, December 10, and January 10.

3. What sources contribute to the Fund's distributions?

Distributions come from net investment income, realized long-term capital gains, and return of capital.

4. How does the Managed Distribution Plan work?

The Plan ensures that all available investment income is distributed to shareholders, supplemented by capital gains when necessary.

5. How can I learn more about DNP Select Income Fund's performance?

Investors can contact the Fund directly for detailed performance metrics and updates.

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