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

Rhea-AI Summary

DNP Select Income Fund Inc. issues a Section 19(a) Notice regarding the distribution period of April 2024, with a distribution amount of $0.065 per share of common stock payable on May 10, 2024. The distribution sources include Net Investment Income, Net Realized Long-Term Capital Gains, and Return of Capital. The Fund's average annual total return over the past 5 years is 5.88%, with an annualized current distribution rate of 10.23%.

Positive

• DNP Select Income Fund Inc. maintains a consistent distribution of income to its shareholders, providing a reliable source of revenue.

• The Fund's primary investment objectives of current income and long-term growth of income demonstrate a focus on shareholder value and stability.

• The diversified portfolio of equity and fixed income securities in the public utilities industry offers a balanced investment approach.

Negative

• The Fund may have distributed more than its income and capital gains, leading to a potential return of capital distribution, which does not reflect the Fund's investment performance.

• Investors should be cautious about drawing conclusions on the Fund's investment performance solely based on the distribution amount or terms of the managed distribution plan.

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

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

The following table sets forth the estimated amounts of the current distribution, payable May 10, 2024 to shareholders of record April 30, 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	April 2024				Fiscal YTD
Sources	Per Share Amount		% of Current Distribution		Per Share Amount		% of Cumulative Distributions
Net Investment Income	$	0.007	11	%	$	0.090	23	%
Net Realized Short-Term Capital Gains		-	-			-	-
Net Realized Long-Term Capital Gains		0.058	89	%		0.215	55	%
Return of Capital (or Other Capital Source)		-	-			0.085	22	%
Total (per common share)	$	0.065	100	%	$	0.390	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/20240509426585/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 of common stock for April 2024?

The distribution amount per share of common stock for April 2024 is $0.065.

What are the primary investment objectives of DNP Select Income Fund Inc.?

The primary investment objectives of DNP Select Income Fund Inc. are current income and long-term growth of income.

What is the average annual total return on NAV for the past 5 years?

The average annual total return on NAV for the past 5 years is 5.88%.