CHICAGO, June 9, 2022
/PRNewswire/ -- 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
|
|
35.0
|
September 14,
2022
|
September 15,
2022
|
September 30,
2022
|
The Fund adopted a Managed Distribution Plan (the "Plan") in
2015 to maintain its current 35 cents
per share distribution rate. 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 35 cents per share distribution level.
The following table sets forth the estimated amounts of the
Fund's June quarterly distribution to shareholders of record at the
close of business on June 15, 2022
(ex-date June 14, 2022), payable
June 30, 2022, together with the
cumulative distributions paid this fiscal year to date 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
|
June 2022
(QTD)
|
Year-to-date
(YTD)
|
|
|
(Sources)
|
Per
Share
Amount
|
% of
Current
Distribution
|
Per Share
Amount
|
% of
Cumulative
Distributions
|
|
|
Net Investment
Income
|
$
0.020
|
5.8%
|
$
0.107
|
10.2%
|
|
|
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)
|
0.330
|
94.2%
|
0.943
|
89.8%
|
|
|
Total
|
$
0.350
|
100.0%
|
$
1.050
|
100.0%
|
|
|
|
|
|
|
As of May 31,
2022
|
|
|
|
Average annual total
return on NAV for the 5 years
|
4.64%
|
|
|
Annualized current
distribution rate as a percentage of NAV
|
9.57%
|
|
|
Cumulative total return
on NAV for the fiscal year
|
10.20%
|
|
|
Cumulative fiscal year
distributions as a percentage of NAV
|
7.18%
|
|
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'.
The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting
purposes. 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
Duff & Phelps Utility and Infrastructure Fund Inc. is a
closed-end investment management company whose investment objective
is to seek total return, resulting primarily from (i) a high
level of current income, with an emphasis on providing
tax-advantaged dividend income and (ii) growth in current income,
and secondarily from capital appreciation. The Fund
seeks to achieve these objectives by investing primarily in
equities of domestic and foreign utilities and infrastructure
providers. Under normal market conditions, the Fund will invest at
least 80% of its total assets in dividend-paying equity securities
of companies in the utility industry and the infrastructure
industry. The utility industry is defined to include the following
sectors: electric, gas, water, telecommunications, and midstream
energy. The infrastructure industry is defined as companies owning
or operating essential transportation assets, such as toll roads,
bridges, tunnels, airports, seaports, and railroads. For more
information, please contact shareholder services at (866) 270-7598,
by email at duff@virtus.com, or visit the DPG website,
www.dpimc.com/dpg.
About the Investment Adviser
Duff & Phelps Investment Management Co. is a subsidiary of
Virtus Investment Partners (NASDAQ: VRTS), a distinctive
partnership of boutique asset managers. Duff & Phelps has more
than 35 years of experience managing investment portfolios,
including institutional separate accounts and open- and closed-end
funds investing in utilities, infrastructure, MLPs and real estate
investment trusts (REITs). For more information, visit
www.dpimc.com.
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SOURCE Duff & Phelps Utility and Infrastructure Fund
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