CHICAGO, March 14, 2017 /PRNewswire/ -- The Board of
Directors of Duff &
Phelps Global Utility Income 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
|
|
$0.35
|
June 13, 2017
|
June 15, 2017
|
June 30, 2017
|
The fund adopted a Managed Distribution Plan (the "Plan") in 2015 to maintain its current 35
cent 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 cent per share distribution level.
The following table sets forth the estimated amounts of the fund's March quarterly distribution to shareholders of record at
the close of business on March 15, 2017 (ex-date March 13, 2017),
payable March 31, 2017, 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
|
March 2017 (QTD)
|
Year-to-date (YTD)
|
|
(Sources)
|
Per Share
Amount
|
% of
Current
Distribution
|
Per Share Amount
|
% of
Cumulative Distributions
|
|
Net Investment Income
|
$ 0.045
|
12.9%
|
$ 0.126
|
18.0%
|
|
Net Realized Foreign Currency Gains
|
0.003
|
0.7%
|
0.003
|
0.4%
|
|
Net Realized Short-Term Capital Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized Long-Term Capital Gains
|
0.302
|
86.4%
|
0.571
|
81.6%
|
|
Return of Capital (or other Capital Source)
|
-
|
0.0%
|
-
|
0.0%
|
|
Total
|
$ 0.350
|
100.0%
|
$ 0.700
|
100.0%
|
|
As of February 28, 2017
|
|
|
|
Average annual total return on NAV for the 5 years
|
6.61%
|
|
|
Annualized current distribution rate as a percentage of NAV
|
7.27%
|
|
|
Cumulative total return on NAV for the fiscal year
|
6.34%
|
|
|
Cumulative fiscal year distributions as a percentage of NAV
|
1.82%
|
|
|
|
|
|
|
|
Under the terms of the fund's Managed Distribution Plan, the fund seeks to maintain a consistent distribution level that may
be paid in part or in full from net investment income, realized capital gains, and a return of capital, or a combination thereof.
Shareholders should note, however, that if the fund's aggregate net investment income and realized capital gains are less than
the amount of the distribution level, the difference will be distributed from the fund's assets and will constitute a return of
the shareholder's capital. A return of capital is not taxable; rather it reduces a shareholder's tax basis in his or her shares
of the fund.
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.
The fund will issue a separate 19(a) notice at the time of each quarterly distribution using the most current financial
information available.
About the Fund
Duff & Phelps Global Utility Income 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 in equities of domestic and foreign utility companies in the electric, gas,
water, telecommunications, and midstream energy sectors. For more information, please contact shareholder services at (866)
270-7598, by email at duff@virtus.com, or visit the DPG
website, www.dpgfund.com.
About the Investment Adviser
Duff & Phelps Investment Management Co. is a subsidiary of Virtus Investment Partners (NASDAQ: VRTS), a multi-boutique
asset manager. 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/duff--phelps-global-utility-income-fund-announces-dividend-and-discloses-sources-of-distribution--section-19a-notice-300423661.html
SOURCE Duff & Phelps Global Utility Income Fund Inc.