DNP Select Income Fund Inc. Section 19(a) Notice
DNP Select Income Fund has announced its distribution sources for May 2024, specifying a per-share distribution amount of $0.065, payable on June 10, 2024. Shareholders on record as of May 31, 2024, will receive this distribution. This includes net investment income, net realized long-term capital gains, and return of capital. For the fiscal year starting November 1, 2023, the cumulative distribution per share stands at $0.455. Key metrics include an annualized distribution rate of 10.23% on NAV, a 5-year average annual total return on NAV of 5.88%, and a 6.37% cumulative total return on NAV for the fiscal YTD. The notice clarifies that a portion of the distribution may constitute a return of capital, which does not necessarily reflect the Fund's investment performance. The sources of the distributions are estimates and could change based on the Fund's investment experience and tax regulations.
- Distribution amount per share for May 2024 is $0.065.
- Cumulative YTD distribution per share is $0.455.
- Annualized distribution rate of 10.23% on NAV.
- 5-year average annual total return on NAV is 5.88%.
- Cumulative total return on NAV for the fiscal YTD stands at 6.37%.
- Portion of the distribution may be a return of capital, which can mean the fund is returning investor's own money.
- Sources of distributions are estimates and may change, suggesting potential uncertainty.
- No net realized short-term capital gains were reported for May 2024.
Distribution Period |
May 2024 |
|
Distribution Amount Per Share of Common Stock |
|
|
The following table sets forth the estimated amounts of the current distribution, payable June 10, 2024 to shareholders of record May 31, 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
Distribution Estimates |
May 2024 |
Fiscal YTD |
||||||
Sources |
Per Share Amount |
% of Current Distribution |
Per Share Amount |
% of Cumulative Distributions |
||||
Net Investment Income |
$ |
0.019 |
29 |
% |
$ |
0.105 |
23 |
% |
Net Realized Short-Term Capital Gains |
|
- |
- |
|
|
- |
- |
|
Net Realized Long-Term Capital Gains |
|
0.030 |
46 |
% |
|
0.246 |
54 |
% |
Return of Capital (or Other Capital Source) |
|
0.016 |
25 |
% |
|
0.104 |
23 |
% |
Total (per common share) |
$ |
0.065 |
100 |
% |
$ |
0.455 |
100 |
% |
February 29, 2024 |
|
|||||||
Average annual total return* on NAV for the 5 years |
|
|
5.88 |
% |
||||
Annualized current distribution rate as a percentage of NAV |
|
|
10.23 |
% |
||||
Cumulative total return on NAV for the fiscal YTD |
|
|
6.37 |
% |
||||
Cumulative fiscal YTD distributions as a percentage of NAV |
|
|
3.41 |
% |
||||
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/20240607240114/en/
Dianna P. Wengler or Donny C. Overton
Phone: (833) 604-3163
Source: DNP Select Income Fund Inc.
FAQ
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