CHICAGO, Dec. 19, 2019 /PRNewswire/ -- On
December 19, 2019, the Board of
Directors of Duff & Phelps Utility and Corporate Bond Trust
Inc. (NYSE: DUC) (the "Fund"), a closed-end fund advised by Duff
& Phelps Investment Management Co., authorized the payment of
dividends on the Fund's common stock as follows:
Cents Per
Share
|
Ex-Dividend
Date
|
Record
Date
|
Payable
Date
|
5.0
|
January 14,
2020
|
January 15,
2020
|
January 31,
2020
|
5.0
|
February 14,
2020
|
February 18,
2020
|
February 28,
2020
|
5.0
|
March 13,
2020
|
March 16,
2020
|
March 31,
2020
|
The Board of Directors determined that the Fund's monthly
dividend payable January 31, 2020,
February 28, 2020 and March 31, 2020 will be in the amount of
5.0 cents per share. This
dividend rate represents an increase of 1.5
cents per share and 43% from the previous 3.5 cent per share monthly distribution
rate. This new dividend rate is subject to re-evaluation as
the interest rate and credit environment changes. The Fund's
adviser will continue to closely monitor the markets in which the
Fund is invested and intends to investigate all options available
to support the distribution rate in the future.
About the Fund
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.dpimc.com/duc or call (800)
338-8214.
About the Investment Adviser
Duff & Phelps
Investment Management Co. has more than 40 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.
Duff & Phelps is a subsidiary of Virtus Investment Partners
(NASDAQ: VRTS), a multi-boutique asset manager with $104.1 billion under management as of
September 30, 2019. Virtus
provides investment management products and services to individuals
and institutions through a multi-manager asset management business,
comprising a number of individual affiliated managers, each with a
distinct investment style, autonomous investment process and
individual brand. Additional information can be found at
www.virtus.com.
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SOURCE Duff & Phelps Utility and Corporate Bond Trust
Inc.