DNP Select Income Fund Inc.
DNP
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- DNP Select Income Fund Inc. (NYSE: DNP) is a diversified, closed-end management investment company that seeks current income and long-term growth of income, with capital appreciation as a secondary objective. The Fund invests primarily in a diversified portfolio of equity and fixed income securities of public utility companies engaged in the production, transmission or distribution of electric energy, gas or telephone services; it allocates more than 65% of total assets to such securities, including common stocks, preferred stocks and investment-grade bonds of domestic and foreign issuers across all market capitalizations; it also invests in master limited partnerships and employs leverage through outstanding Floating Rate Mandatory Redeemable Preferred Shares (MRPS), secured borrowings and secured notes. The Fund benchmarks performance against the S&P 500 Utilities Index and Barclays Capital U.S. Utility Bond Index and maintains a Managed Distribution Plan providing a consistent monthly distribution of $0.065 per common share since July 1997. The Fund was launched by Virtus Investment Partners, Inc. and is managed by Duff & Phelps Investment Management Co., with headquarters at 10 South Wacker Drive, Chicago, Illinois; it first offered common stock to the public in January 1987. Operations focus on the U.S. public utilities sector, with limited exposure to foreign issuers not exceeding 20% of assets and no more than 25% in any single non-utility industry. In recent developments, the Fund's Board of Directors authorized ongoing monthly dividends through April 2026 under the Managed Distribution Plan, with November 2025 estimates showing 66.9% from net investment income and 33.1% from return of capital; fiscal year-to-date through October 2025 distributions totaled $0.780 per share, comprising net investment income, long-term capital gains and return of capital. As of October 31, 2025, the Fund reported a 5-year annualized NAV return of 10.77%, an annualized distribution rate of 8.38% of NAV and cumulative fiscal year NAV return of 13.54%. In November 2024, President and CEO David D. Grumhaus Jr. acquired 2,000 additional shares at $9.60 each, increasing direct holdings to 8,361 shares.