Duff & Phelps Utility and Infrastructure Fund Inc. Announces Dividend and Discloses Sources of Distribution Section 19(a) Notice

Rhea-AI Summary

Duff & Phelps Utility and Infrastructure Fund Inc. (DPG) announced a dividend payment of 21 cents per share, following its Managed Distribution Plan. The Fund will distribute all available investment income to shareholders and supplement with capital gains if needed. The estimated March quarterly distribution shows a significant portion from return of capital. The Fund's average annual total return on NAV for 5 years is 0.91%, with an 8.12% current distribution rate. Cumulative total return on NAV for the fiscal year is 6.27%.

CHICAGO--(BUSINESS WIRE)-- The Board of Directors of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG), 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-Date	Record Date	Payable Date
21.0	June 17, 2024	June 17, 2024	June 28, 2024

The Fund adopted a Managed Distribution Plan (the “Plan”) in 2015. Under the Plan, the Fund will distribute all available investment income to its shareholders, consistent with the Fund’s investment objective. If and when sufficient investment income is not available on a quarterly basis, the Fund will distribute realized capital gains and/or return of capital to its shareholders in order to maintain the 21 cents per share distribution level.

The following table sets forth the estimated amounts of the Fund’s March quarterly distribution to shareholders of record at the close of business on March 15, 2024 (ex-date March 14, 2024), payable March 28, 2024, together with the cumulative distributions paid from the first day of the fiscal year to this month end from the following sources. 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	March 2024 (QTD)			Year-to-date (YTD)
(Sources)	Per Share Amount		% of Current Distribution	Per Share Amount		% of Cumulative Distributions
Net Investment Income	$	0.000	0.0%	$	0.000(a)	0.1%
Net Realized Foreign Currency Gains		0.000	0.0%		0.000	0.0%
Net Realized Short-Term Capital Gains		0.000	0.0%		0.000	0.0%
Net Realized Long-Term Capital Gains		0.000	0.0%		0.000	0.0%
Return of Capital (or other Capital Source)		0.210	100.0%		0.420	99.9%
Total	$	0.210	100.0%	$	0.420	100.0%
(a) Amount is less than .001 per share
As of February 29, 2024
Average annual total return on NAV for the 5 years						0.91%
Annualized current distribution rate as a percentage of NAV						8.12%
Cumulative total return on NAV for the fiscal year						6.27%
Cumulative fiscal year distributions as a percentage of NAV						4.06%

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

About the Fund

Duff & Phelps Utility and Infrastructure Fund Inc. is a closed-end investment management company whose investment objective is to seek total return, resulting primarily from (i) a high level of current income, with an emphasis on providing tax-advantaged dividend income and (ii) growth in current income, and secondarily from capital appreciation. The Fund seeks to achieve these objectives by investing primarily in equities of domestic and foreign utilities and infrastructure providers. Under normal market conditions, the Fund will invest at least 80% of its total assets in dividend-paying equity securities of companies in the utility industry and the infrastructure industry. The utility industry is defined to include the following sectors: electric, gas, water, telecommunications, and midstream energy. The infrastructure industry is defined as companies owning or operating essential transportation assets, such as toll roads, bridges, tunnels, airports, seaports, and railroads. For more information, please contact shareholder services at (866) 270-7598, by email at duff@virtus.com, or visit the DPG website, www.dpimc.com/dpg.

About the Investment Adviser

Duff & Phelps Investment Management Co. is a subsidiary of Virtus Investment Partners (NASDAQ: VRTS), a distinctive partnership of boutique asset managers. Duff & Phelps has more than 35 years of experience managing investment portfolios, including institutional separate accounts and open- and closed-end funds investing in utilities, infrastructure, MLPs and real estate investment trusts (REITs). For more information, visit www.dpimc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240315460201/en/

DPG Fund Services

(866) 270-7598

duff@virtus.com

Source: Duff & Phelps Utility and Infrastructure Fund Inc.

FAQ

What is the dividend payment announced by Duff & Phelps Utility and Infrastructure Fund Inc. (DPG)?

The dividend payment announced is 21 cents per share.

What is the Fund's Managed Distribution Plan?

The Fund's Managed Distribution Plan involves distributing all available investment income to shareholders and supplementing with capital gains if needed.

What is the estimated March quarterly distribution breakdown for shareholders of Duff & Phelps Utility and Infrastructure Fund Inc. (DPG)?

The estimated March quarterly distribution shows a significant portion from return of capital.

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

The Fund's average annual total return on NAV for the past 5 years is 0.91%.

What is the Fund's current distribution rate as a percentage of NAV?

The Fund's current distribution rate as a percentage of NAV is 8.12%.

What is the cumulative total return on NAV for the fiscal year for Duff & Phelps Utility and Infrastructure Fund Inc. (DPG)?

The cumulative total return on NAV for the fiscal year is 6.27%.