DNP Select Income Fund Inc. Section 19(a) Notice

Rhea-AI Summary

DNP Select Income Fund announced a distribution of $0.065 per share, payable on July 10, 2024, to shareholders of record on June 28, 2024. The Fund's fiscal year runs from November 1, 2023, to October 31, 2024. The distribution sources are broken down as follows: 36% from Net Investment Income, 34% from Net Realized Long-Term Capital Gains, and 30% from Return of Capital. This is part of the cumulative fiscal YTD distribution of $0.520 per share. As of May 31, 2024, the Fund reported a 6.72% average annual total return on NAV over five years, a 9.64% annualized distribution rate, a 15.71% cumulative total return, and a 5.62% cumulative distribution rate on NAV.

Investors are advised not to infer the Fund's performance from these distributions, as a portion may constitute a return of capital, which does not reflect yield or income. These distributions are estimated, and actual tax reporting will be provided via Form 1099-DIV. The Fund invests primarily in equity and fixed income securities within the public utilities sector, aiming for current and long-term growth of income.

CHICAGO--(BUSINESS WIRE)-- Notification of Sources of Distribution

Distribution Period					June 2024
Distribution Amount Per Share of Common Stock					$0.065

The following table sets forth the estimated amounts of the current distribution, payable July 10, 2024 to shareholders of record June 28, 2024, together with the cumulative distributions paid this fiscal year-to-date (YTD) from the following sources. The fiscal year is November 1, 2023 to October 31, 2024. 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.

Distribution Estimates	June 2024			Fiscal YTD
Sources	Per Share Amount		% of Current Distribution	Per Share Amount		% of Cumulative Distributions
Net Investment Income	$	0.023	36%	$	0.130	25%
Net Realized Short-Term Capital Gains		-	-		-	-
Net Realized Long-Term Capital Gains		0.022	34%		0.265	51%
Return of Capital (or Other Capital Source)		0.020	30%		0.125	24%
Total (per common share)	$	0.065	100%	$	0.520	100%
May 31, 2024
Average annual total return* on NAV for the 5 years						6.72%
Annualized current distribution rate as a percentage of NAV						9.64%
Cumulative total return on NAV for the fiscal YTD						15.71%
Cumulative fiscal YTD distributions as a percentage of NAV						5.62%

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

* Simple arithmetic average of each of the past five annual returns.

DNP Select Income Fund Inc. (NYSE: DNP) is a closed-end diversified investment management company. The Fund’s 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 the Fund’s website at www.dpimc.com/dnp or call the Fund at (800) 864-0629.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240709145946/en/

Dianna P. Wengler or Donny C. Overton

Phone: (833) 604-3163

Source: DNP Select Income Fund Inc.

FAQ

What is the distribution amount per share for DNP Select Income Fund in June 2024?

The distribution amount per share for the DNP Select Income Fund in June 2024 is $0.065.

When is the distribution payable to DNP shareholders?

The distribution is payable on July 10, 2024, to shareholders of record on June 28, 2024.

What are the sources of the June 2024 distribution for DNP?

The sources of the June 2024 distribution are 36% from Net Investment Income, 34% from Net Realized Long-Term Capital Gains, and 30% from Return of Capital.

What is the annualized current distribution rate of DNP as a percentage of NAV?

The annualized current distribution rate of DNP as a percentage of NAV is 9.64%.

What is the average annual total return on NAV for DNP over the past five years?

The average annual total return on NAV for DNP over the past five years is 6.72%.

What is the cumulative total return on NAV for DNP for the fiscal YTD as of May 31, 2024?

The cumulative total return on NAV for DNP for the fiscal YTD as of May 31, 2024, is 15.71%.

What is the cumulative fiscal YTD distribution per share for DNP?

The cumulative fiscal YTD distribution per share for DNP is $0.520.

What percentage of the June 2024 distribution for DNP is from Net Realized Long-Term Capital Gains?

34% of the June 2024 distribution for DNP is from Net Realized Long-Term Capital Gains.

Where can I find more information about DNP Select Income Fund?

For more information about DNP Select Income Fund, visit www.dpimc.com/dnp or call (800) 864-0629.