DNP Select Income Fund Announces Dividends and Sources of Distribution

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

Cents Per Share	Ex-Dividend Date	Record Date	Payable Date
6.5	July 28, 2023	July 31, 2023	August 10, 2023
6.5	August 30, 2023	August 31, 2023	September 11, 2023
6.5	September 28, 2023	September 29, 2023	October 10, 2023

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 following table sets forth the estimated amounts of the Fund’s current monthly distribution, paid on June 12, 2023, together with the cumulative distributions paid this fiscal year to date from the following sources. The fiscal year is from November 1, 2022 to October 31, 2023. All amounts are expressed per share of common stock based on U.S. generally accepted accounting principles, which may differ from federal income tax regulations.

Notification of Sources of Distribution Distribution Period: May 2023 Distribution Amount Per Share of Common Stock: $0.065
Distribution Estimates	May 2023		Fiscal YTD
	Per Share Amount	% of Current Distribution	Per Share Amount	% of Cumulative Distributions
Net Investment Income	$0.013	20%	$0.100	22%
Net Realized Short-Term Capital Gains	-	-	-	-
Net Realized Long-Term Capital Gains	0.030	46%	0.259	57%
Return of Capital (or Other Capital Source)	0.022	34%	0.096	21%
Total (per common share)	$0.065	100%	$0.455	100%

February 28, 2023
Average annual total return* on NAV for the 5 years ended	8.88%
Annualized current distribution rate as a percentage of NAV	9.13%
Cumulative total return on NAV for the fiscal YTD	1.61%
Cumulative fiscal year distributions as a percentage of NAV	3.04%
* Simple arithmetic average of each of the past five annual returns.

You should not necessarily draw any conclusions about the Fund’s investment performance from the amount of these distributions or from the terms of the Fund’s Plan.

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.

The Fund will issue a separate 19(a) notice at the time of each monthly distribution using the most current financial information available.

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,. an affiliated manager of Virtus Investment Partners, Inc., 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.

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Dianna P. Wengler, Donny C. Overton or Clayton J. Minor, (833) 604-3163

Source: DNP Select Income Fund Inc.