Duff & Phelps Utility and Infrastructure Fund Inc. Announces Dividend and Discloses Sources of Distribution Section 19(a) Notice
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CHICAGO, March 15, 2024--(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 | ||||||
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| 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’.