CHICAGO, May 12, 2011 /PRNewswire/ -- The Board of
Directors of DNP Select Income Fund Inc. (NYSE: DNP), DTF Tax-Free
Income Inc. (NYSE: DTF), and Duff & Phelps Utility and
Corporate Bond Trust Inc. (NYSE: DUC), the three closed-end funds
advised by Duff & Phelps Investment Management Co., today
declared dividends on each fund's common stock as follows:
|
DNP Select Income Fund
Inc.
|
|
|
Cents Per
Share
|
Record
Date
|
Payable
Date
|
|
|
6.5
|
June 30,
2011
|
July 11,
2011
|
|
|
6.5
|
July 29,
2011
|
August 10,
2011
|
|
|
6.5
|
August 31,
2011
|
September
12, 2011
|
|
|
|
|
|
|
|
DTF Tax-Free Income Inc.
(Increased from 6.5 cents per share)
|
|
|
Cents Per
Share
|
Record
Date
|
Payable
Date
|
|
|
6.75
|
June 15,
2011
|
June 30,
2011
|
|
|
6.75
|
July 15,
2011
|
July 29,
2011
|
|
|
6.75
|
August 15,
2011
|
August 31,
2011
|
|
|
|
|
|
|
The Board of Directors determined that the DTF Tax-Free Income
Inc. monthly dividend payable June 30,
2011, July 29, 2011, and
August 31, 2011 will be in the amount
of 6.75 cents per share. This
dividend rate represents an increase of 0.25
cent per share from the previous 6.5
cents per share monthly distribution rate. This
increase in the dividend rate is intended to better align the
Fund's monthly distribution with its current and projected earnings
and is subject to re-evaluation as the interest rate and credit
environment changes.
|
Duff & Phelps Utility and
Corporate Bond Trust Inc.
|
|
|
Cents Per
Share
|
Record
Date
|
Payable
Date
|
|
|
7.0
|
June 15,
2011
|
June 30,
2011
|
|
|
7.0
|
July 15,
2011
|
July 29,
2011
|
|
|
7.0
|
August 15,
2011
|
August 31,
2011
|
|
|
|
|
|
|
About the Duff & Phelps Closed-End Funds
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.
DTF Tax-Free Income Inc. is a closed-end diversified investment
company whose investment objective is current income exempt from
regular federal income tax consistent with preservation of capital.
The fund seeks to achieve its investment objective by
investing in a diversified portfolio of investment-grade tax-exempt
obligations. For more information, visit www.dtffund.com or
call (800) 338-8214.
Duff & Phelps Utility and Corporate Bond Trust Inc. is a
closed-end diversified investment management company whose primary
investment objective is high current income consistent with
investing in securities of investment grade quality. The fund seeks
to achieve its objectives by investing substantially all of its
assets in a diversified portfolio of utility income securities,
corporate income securities, mortgage-backed securities and
asset-backed securities. For more information, visit
www.ducfund.com or call (800) 338-8214.
About the Investment Adviser
Duff & Phelps Investment Management Co. has more than 30
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.
SOURCE DNP Select Income Fund Inc.