Welcome to our dedicated page for DNP Select Income Fund news (Ticker: DNP), a resource for investors and traders seeking the latest updates and insights on DNP Select Income Fund stock.
DNP Select Income Fund Inc. (symbol: DNP) is a closed-ended investment management fund dedicated to providing current income and long-term growth of income, with a secondary objective of capital appreciation. The fund primarily invests in the public utility industry, leveraging its strategic position to deliver consistent returns to its investors.
Managed by Duff & Phelps Investment Management Co., a reputable Chicago-based SEC-registered investment advisor founded in 1932, DNP Select Income Fund Inc. benefits from over 30 years of expertise in managing institutional separate accounts and both open- and closed-end funds. This management team has a proven track record, highlighted by the receipt of 20 Lipper Awards for top performance in peer comparisons.
DNP Select Income Fund Inc. focuses on key sectors such as global utilities, global infrastructure, global real estate, investment-grade fixed income, and large-cap equities. This diversified approach ensures the fund is well-positioned to achieve its investment objectives in various market conditions.
In recent developments, DNP Select Income Fund Inc. continues to deliver strong financial performance, maintaining robust partnerships and consistently launching new projects that align with its core objectives. Investors can stay updated with the latest news and performance metrics directly from the fund's periodic reports and official announcements.
As a wholly-owned subsidiary of Virtus Investment Partners (Nasdaq: VRTS), DNP Select Income Fund Inc. benefits from the operational support and strategic guidance of a publicly traded parent company, further enhancing its capability to meet and exceed investor expectations.
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.
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%.
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