Dividend Information About DTF Tax-Free Income 2028 Term Fund: Everything You Need To Know Before Its Ex-Dividend Date on Oct 15, 2025

DTF Tax-Free Income 2028 Term Fund (DTF) has announced a cash dividend of $0.0325 per share, with an ex-dividend date set for Oct 15, 2025. The dividend will be paid out on Oct 31, 2025, following the announcement date of Sep 18, 2025. The recent dividend amount is lower than the average of the last 10 dividend payments, which stood at $0.0613 per share. Investors should note that the last dividend was also $0.0325 per share, paid on Sep 30, 2025, and was also a cash dividend. The reduction in the current dividend compared to historical averages suggests a potential shift in the fund’s distribution strategy, though the company has not provided further clarification on this matter.

Over the past week, several developments have shaped the market perception of DTF. One of the most significant updates involves the retirement of key board members at DTF Tax-Free Income 2028 Term Fund Inc., alongside two other funds under the same management umbrella. This transition raises questions about the continuity of the fund’s strategic direction and governance structure, particularly as the fund approaches its 2028 maturity date. Analysts have noted that board changes in closed-end funds can influence operational stability and investor confidence, especially when the leadership shift occurs near the fund’s term expiration.

Additionally, recent market data indicates that DTF is currently trading at a discount of -5.8% with a yield of 0.03415, reflecting its performance against average premium/discount benchmarks. This suggests that the fund may be undervalued relative to its net asset value, though liquidity remains a concern given the limited trading volume of 1,423 shares on the most recent trading day. The decline in price, coupled with the reduced dividend, has sparked discussions among investors about the fund’s long-term viability and its ability to generate returns in a low-yield environment.

Further adding to the fund’s recent news cycle is the broader market activity involving Virtus Investment Partners, which oversees DTF and is set to release its third-quarter 2025 financial results on Oct 24, 2025. This upcoming report could provide further insight into the fund’s performance and management’s outlook, especially in light of the recent board transitions. As of late, market observers have been closely watching how external economic pressures and internal leadership changes may influence the fund’s operations and dividend sustainability.

In conclusion, DTF Tax-Free Income 2028 Term Fund is navigating a period of transition, marked by board retirements, a recent reduction in dividend payouts, and fluctuating market conditions. Investors should closely monitor the upcoming earnings report and any further announcements from the board to gauge the fund’s future direction. It is important to note that the ex-dividend date of Oct 15, 2025, is the final day for investors to purchase shares and be eligible to receive the current dividend. Any purchase made after this date will not qualify for the upcoming payout.