DNP Select Income Fund Inc. Announces Dividends

CHICAGO--(BUSINESS WIRE)--March 17, 2025-- 

The Board of Directors of DNP Select Income Fund Inc. (NYSE: DNP), a closed-end fund advised by Duff & Phelps Investment Management Co. (the "Adviser"), authorized the payment of dividends on its common stock as follows:

 
Per Share Amount     Ex-Date       Record Date    Payable Date 
----------------  --------------  --------------  ------------- 
     $0.065       April 30, 2025  April 30, 2025  May 12, 2025 
----------------  --------------  --------------  ------------- 
     $0.065        May 30, 2025    May 30, 2025   June 10, 2025 
----------------  --------------  --------------  ------------- 
     $0.065       June 30, 2025   June 30, 2025   July 10, 2025 
----------------  --------------  --------------  ------------- 
 

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 Fund previously provided this estimate of the sources of the February 2025 distributions:

 
   Distribution 
     Estimates           February 2025 $(MTD)$       Fiscal Year-to-Date (YTD)(1) 
-------------------  ----------------------------  ---------------------------- 
                                     Percentage                    Percentage 
                      Per Share      of Current     Per Share      of Current 
 (Sources)              Amount      Distribution      Amount      Distribution 
-------------------  ------------  --------------  ------------  -------------- 
 Net Investment 
  Income               $    0.027     41.6%           $   0.075      28.8% 
-------------------  ---  -------  -------   ----  ----  ------  -------- --- 
 Net Realized 
  Short-Term 
  Capital Gains             0.000      0.0%               0.003       1.2% 
-------------------  ---  -------  -------   ----  ----  ------  -------- --- 
 Net Realized 
  Long-Term Capital 
  Gains                     0.032     49.2%               0.182      70.0% 
-------------------  ---  -------  -------   ----  ----  ------  -------- --- 
 Return of Capital 
  (or other Capital 
  Source)                   0.006      9.2%               0.000       0.0% 
-------------------  ---  -------  -------   ----  ----  ------  -------- --- 
 Total Distribution    $    0.065    100.0%           $   0.260     100.0% 
-------------------  ---  -------  -------   ----  ----  ------  -------- --- 
     (1) Fiscal year started November 1, 2024 
 
 
 As of February 28, 2025 
--------------------------------------------------------------------  -------- 
 Average annual total return on NAV for the 5 years*                  9.09% 
--------------------------------------------------------------------  ---- 
 Annualized current distribution rate as a percentage of NAV          8.45% 
--------------------------------------------------------------------  ---- 
 Cumulative total return on NAV for the fiscal year                   6.41% 
--------------------------------------------------------------------  ---- 
 Cumulative fiscal year distributions as a percentage of NAV          2.82% 
--------------------------------------------------------------------  ---- 
     * Simple arithmetic average of each of the past five annual returns. 
 

The Fund will issue a separate 19(a) notice at the time of each distribution using the most current financial information available. You should not draw any conclusions about the Fund's investment performance from the amount of these distributions or from the terms of the Plan.

The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.

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.

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 dpimc.com/dnp or call (800) 864-0629.

About the Investment Adviser

Duff & Phelps Investment Management Co. is a boutique investment manager that specializes in listed real asset strategies for institutional and individual clients. An affiliated manager of Virtus Investment Partners, Inc. (NYSE: VRTS), the firm began in 1932 as a fundamental research firm and has been managing assets since 1979. The firm seeks to provide specialty investment strategies that enhance client outcomes through active portfolio management and customized solutions, utilizing a process with values that include quality, reliability, and specialization. Investment strategies include U.S. and global real estate securities, global listed infrastructure, energy infrastructure, water, and clean energy. For more information visit dpimc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250317497020/en/

 
    CONTACT:    For Further Information: 

DNP Select Income Fund

(833) 604-3163

(END) Dow Jones Newswires

March 17, 2025 16:31 ET (20:31 GMT)