DTF Tax-Free Income 2028 Term Fund Inc. Announces Dividends
The Board of Directors of DTF Tax-Free Income 2028 Term Fund (NYSE: DTF) has announced the payment of dividends on its common stock. The dividends are set at 3.25 cents per share for each of the following dates: July 15, August 15, and September 16, 2024, with corresponding payable dates at the end of each respective month. The Fund anticipates that the dividends may exceed its net income and realized capital gains, implying a potential return of capital. This return of capital does not accurately reflect the Fund's investment performance. Investors will receive a Form 1099-DIV for federal tax reporting purposes.
- The Fund has declared quarterly dividends of 3.25 cents per share for three consecutive months, indicating a steady return for investors.
- The Fund provides clarity on dividend dates and amounts, helping investors plan their finances.
- The dividends are expected to exceed the Fund’s net income and realized capital gains, suggesting that a portion will be a return of capital, which might not be favorable for long-term growth.
- A return of capital does not signify actual yield or income, potentially misleading investors about the Fund's performance.
Cents Per Share |
Ex-Dividend Date |
Record Date |
Payable Date |
3.25 |
July 15, 2024 |
July 15, 2024 |
July 31, 2024 |
3.25 |
August 15, 2024 |
August 15, 2024 |
August 30, 2024 |
3.25 |
September 16, 2024 |
September 16, 2024 |
September 30, 2024 |
The Fund estimates that the above dividends are likely to exceed the Fund’s net income and net realized capital gains; therefore, a portion of these dividends is likely to result in a return of capital. A return of capital may occur, for example, when some or all of the money that you invested 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 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
DTF Tax-Free Income 2028 Term Fund Inc. is a diversified closed-end investment management company whose investment objective is current income exempt from regular federal income tax consistent with preservation of capital. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of investment-grade tax-exempt obligations. For more information, visit dpimc.com/dtf or call (800) 864-0629.
About the Investment Adviser
Duff & Phelps Investment Management Co., an affiliated manager of Virtus Investment Partners, Inc., began in 1932 as a fundamental research firm and has been managing assets since 1979. The firm seeks to provide specialty investment strategies that enhance client outcomes through active portfolio management and customized solutions, utilizing a process with values that include quality, reliability, and specialization. Investment strategies include
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Clayton J. Minor or Timothy P. Riordan, (833) 604-3163
Source: DTF Tax-Free Income 2028 Term Fund Inc.
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