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. reports recurring fund developments as a closed-end diversified investment management company focused on current income and long-term growth of income. The fund is advised by Duff & Phelps Investment Management Co. and invests primarily in diversified equity and fixed-income securities of companies in the public utilities industry.
Its news commonly covers board-authorized dividends on common stock, monthly distribution timing, and Section 19(a) notices that estimate the sources of distributions under the fund's managed distribution plan. Updates also describe how distribution amounts are presented under U.S. GAAP and may differ from federal income tax treatment.
The Board of Directors of DNP Select Income Fund (NYSE: DNP) has announced the payment of dividends on its common stock for the upcoming months. A 6.5 cents per share dividend will be paid on the following dates: August 12, 2024, September 10, 2024, and October 10, 2024. These distributions are part of DNP's Managed Distribution Plan, ensuring a consistent 6.5 cent per share payout. If investment income is insufficient, distributions may include long-term capital gains or return of capital. For May 2024, the distribution of $0.065 per share comprised 29% net investment income, 46% long-term capital gains, and 25% return of capital. The fund's five-year average annual total return on NAV is 5.88%, with an annualized current distribution rate of 10.23%. Cumulative total return on NAV for the fiscal YTD is 6.37%, and cumulative fiscal year distributions as a percentage of NAV is 3.41%.
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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