DNP SELECT INCOME FUND INC. Section 19(a) Notice
DNP Select Income Fund Inc. (NYSE:DNP) has announced its distribution for September 2023, bringing good news to shareholders. The distribution amount per share of common stock is set at $0.065, payable on October 10, 2023, to shareholders of record as of September 29, 2023.
DNP Select Income Fund is a closed-end diversified investment management company that focuses on generating current income and long-term growth of income. The company achieves these objectives by investing in a diversified portfolio of equity and fixed income securities of companies in the public utilities industry.
The distribution estimates for September 2023 reveal that the net investment income accounts for $0.012 per share, representing 19% of the current distribution. Cumulatively, the net investment income for the fiscal year-to-date stands at $0.157 per share, accounting for 22% of the cumulative distributions.
Additionally, the distribution includes net realized long-term capital gains of $0.019 per share, making up 29% of the current distribution. The cumulative net realized long-term capital gains for the fiscal year-to-date amount to $0.358 per share, constituting 50% of the cumulative distributions.
Furthermore, the distribution includes a return of capital (or other capital source) of $0.034 per share, representing 52% of the current distribution. Cumulatively, the return of capital for the fiscal year-to-date stands at $0.200 per share, accounting for 28% of the cumulative distributions.
It’s important to note that the Fund estimates it has distributed more than its income and capital gains, which means a portion of the distribution may be a return of capital. This should not be confused with “yield” or “income” and does not necessarily reflect the Fund’s investment performance.
Despite the return of capital, DNP Select Income Fund remains committed to its primary investment objectives of generating current income and long-term growth of income. The Fund’s investment strategy focuses on the public utilities industry, providing investors with exposure to a diversified portfolio of equity and fixed income securities.
Investors can find more information about DNP Select Income Fund on the company’s website at www.dpimc.com/dnp or by contacting the Fund directly at (800) 864-0629.
In conclusion, DNP Select Income Fund’s distribution for September 2023 brings positive news for shareholders. With a focus on generating current income and long-term growth of income, the Fund continues to provide investors with opportunities in the public utilities industry.