DTF Tax-Free Income 2028 Term Fund Inc. Announces Dividend Payments

DTF Tax-Free Income 2028 Term Fund Inc. has authorized the payment of dividends on its common stock, with per-share amounts of $0.0325 for the months of July, August, and September 2025. The Fund estimates that the dividends will exceed its net income and net realized capital gains, resulting in a return of capital for shareholders. The actual amounts and sources of the distributions will depend on the Fund's investment experience and may be subject to changes based on tax regulations.

DTF Tax-Free Income 2028 Term Fund Inc. has authorized the payment of dividends on its common stock for the months of July, August, and September 2025. The per-share amounts are $0.0325 for each month. The Fund estimates that the dividends will exceed its net income and net realized capital gains, resulting in a return of capital for shareholders [1].

The Fund's Managed Distribution Plan, adopted in 2007, aims to maintain a 6.5 cent per share distribution rate. This plan ensures that all available investment income is distributed to shareholders, with long-term capital gains or return of capital distributed when necessary to meet the distribution target. The Fund previously estimated the sources of its May 2025 distributions, with net investment income and net realized long-term capital gains being the primary contributors [2].

As of May 30, 2025, the Fund reported an average annual total return on net asset value (NAV) of 9.59% over the past five years and an annualized current distribution rate of 8.49% of NAV. The cumulative total return on NAV for the fiscal year was 8.22%, with cumulative fiscal year distributions of 4.95% of NAV [2].

The Fund will issue a separate 19(a) notice for each distribution, providing the most current financial information. Shareholders are advised not to draw conclusions about the Fund's investment performance from the distribution amounts or the terms of the Plan. The actual amounts and sources of distributions for tax reporting purposes will depend on 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 shareholders' broker will send a Form 1099-DIV for the calendar year to report these distributions for federal income tax purposes.

References:

[1] https://finance.yahoo.com/quote/DTF/
[2] https://www.marketscreener.com/quote/stock/DNP-SELECT-INCOME-FUND-IN-408757/news/DNP-Select-Income-Fund-Inc-Announces-Dividends-50254981/