CHICAGO, Sept. 19, 2019 /PRNewswire/ -- On
September 19, 2019, the Board of
Directors of DTF Tax-Free Income Inc. (NYSE: DTF)
(the "Fund"), a closed-end fund advised by Duff & Phelps
Investment Management Co., authorized the payment of dividends on
the Fund's common stock as follows:
Cents Per
Share
|
Ex-Dividend
Date
|
Record
Date
|
Payable
Date
|
4.0
|
October 11,
2019
|
October 15,
2019
|
October 31,
2019
|
4.0
|
November 14,
2019
|
November 15,
2019
|
November 29,
2019
|
4.0
|
December 13,
2019
|
December 16,
2019
|
December 31,
2019
|
The Board of Directors determined that the DTF Tax-Free Income
Inc. monthly dividend payable October 31,
2019, November 29, 2019 and
December 31, 2019 will be in the
amount of 4.0 cents per share.
This dividend rate represents an increase of 0.50 cents per share from the previous
3.50 cents per share monthly
distribution rate. This increase in the dividend rate is
intended to better align the Fund's monthly distribution with its
current and projected earnings, its increased balance of
undistributed net earnings and the municipal closed-end fund
market. The adviser will continue to closely monitor
the markets in which the Fund is invested and plans to investigate
all options available to support the distribution rate in the
future. This new dividend rate is subject to re-evaluation as
the interest rate and credit environment changes.
About the Fund
DTF Tax-Free Income Inc. is a closed-end diversified 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 www.dpimc.com/dtf or call (800) 338-8214.
About the Investment Adviser
Duff & Phelps Investment Management Co. has more than 40
years of experience managing investment portfolios, including
institutional separate accounts and open- and closed-end funds
investing in utilities, infrastructure and real estate investment
trusts (REITs). For more information, visit
www.dpimc.com.
Duff & Phelps is a subsidiary of Virtus Investment Partners
(NASDAQ: VRTS), a multi-boutique asset manager with $105 billion under management as of June 30, 2019. Virtus provides investment
management products and services to individuals and institutions
through a multi-manager asset management business, comprising a
number of individual affiliated managers, each with a distinct
investment style, autonomous investment process and individual
brand. Additional information can be found
at www.virtus.com.
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SOURCE DTF Tax-Free Income Inc.