DNP Select Income Fund has released information regarding dividends and the sources of distribution.

The Board of Directors of DNP Select Income Fund Inc. (NYSE: DNP), a closed-end fund managed by Duff & Phelps Investment Management Co., has approved dividends on its common stock as outlined below:

  • 6.5 Cents Per Share
    • Ex-Dividend Date: April 29, 2024
    • Record Date: April 30, 2024
    • Payable Date: May 10, 2024
  • 6.5 Cents Per Share
    • Ex-Dividend Date: May 31, 2024
    • Record Date: May 31, 2024
    • Payable Date: June 10, 2024
  • 6.5 Cents Per Share
    • Ex-Dividend Date: June 28, 2024
    • Record Date: June 28, 2024
    • Payable Date: July 10, 2024

The Fund has maintained a consistent distribution rate of 6.5 cents per share through its Managed Distribution Plan since 2007. This plan ensures that all available investment income is distributed to shareholders, with long-term capital gains and/or return of capital utilized when necessary to sustain the distribution level.

The table below provides estimates of the Fund’s distribution sources for February 2024, alongside cumulative distributions for the fiscal year-to-date, covering the period from November 1, 2023, to October 31, 2024:

Distribution EstimatesFebruary 2024Fiscal YTD
Net Investment Income$0.013$0.062
Net Realized Short-Term Capital Gains
Net Realized Long-Term Capital Gains$0.052$0.122
Return of Capital (or Other Capital Source)$0.076
Total (per common share)$0.065$0.260

The Fund’s performance metrics for November 30, 2023, include an average annual total return of 5.34% over the past five years, an annualized current distribution rate of 9.81% as a percentage of NAV, a cumulative total return on NAV of 8.23% for the fiscal year-to-date, and cumulative fiscal year distributions representing 0.82% of NAV.

Investors are advised not to solely rely on distribution amounts or the terms of the Fund’s Plan to gauge its investment performance. Actual tax-reporting amounts may vary, and Form 1099-DIV will be provided by the Fund or your broker for federal income tax purposes. Additional 19(a) notices will be issued with the most up-to-date financial information at each monthly distribution.

Source Link

Newsletter Updates

Enter your email address below and subscribe to our newsletter