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Duff & Phelps Utility Fund Announces Monthly Distribution of $0.07 Per Share
ByAinvest
Monday, Dec 9, 2024 4:13 pm ET1min read
Duff & Phelps Utility and Infrastructure Fund Inc. has announced its monthly distribution of $0.07 per share, with an estimated 52.8% coming from net investment income and 34.3% from net realized short-term capital gains. The remaining 12.9% is from net realized long-term capital gains. The fund has adopted a Managed Distribution Plan to distribute all available investment income, with the remaining amount coming from realized capital gains and/or return of capital.
Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) recently announced its monthly distribution for August 2024 [1]. The distribution amounted to $0.07 per share, with a significant portion coming from net investment income.According to the Fund's latest Section 19(a) notice [2], approximately 52.8% of the distribution, or $0.038 per share, can be attributed to net investment income. This portion represents the interest, dividends, and other income earned from the Fund's investments.
The remaining 47.2% of the distribution, or $0.032 per share, is a result of net realized short-term capital gains and net realized long-term capital gains. Short-term capital gains arise from the sale of securities held for less than a year, while long-term capital gains stem from the sale of securities held for more than a year.
The Fund adopted a Managed Distribution Plan (MDP) in 2015, which enables it to distribute all available investment income to its shareholders consistently with its investment objective [2]. If insufficient investment income is available, the Fund distributes realized capital gains and/or returns of capital to maintain the monthly distribution level of $0.07 per share.
Sources:
[1] Business Wire. Duff & Phelps Utility and Infrastructure Fund Inc. Discloses Sources of Distribution - Section 19(a) Notice. September 9, 2024. https://www.businesswire.com/news/home/20241108094313/en/Duff-Phelps-Utility-and-Infrastructure-Fund-Inc.-Discloses-Sources-of-Distribution---Section-19-a-Notice
[2] Virtus Investment Partners. Duff & Phelps Utility and Infrastructure Fund Inc. Discloses Sources of Distribution - Section 19(a) Notice. September 9, 2024. https://ir.virtus.com/news/news-details/2024/Duff--Phelps-Utility-and-Infrastructure-Fund-Inc.-Discloses-Sources-of-Distribution---Section-19a-Notice-722dce96d/default.aspx
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