CHICAGO, Dec. 18, 2015 /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
|
March 11,
2016
|
March 15,
2016
|
March 31,
2016
|
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 December quarterly distribution to shareholders of record at
the close of business on December 15,
2015 (ex-date December 11,
2015), payable December 31,
2015, 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
|
December 2015
(QTD)
|
Year-to-date
(YTD)
|
(Sources)
|
Per
Share
Amount
|
% of
Current
Distribution
|
Per Share
Amount
|
%
of
Cumulative
Distributions
|
Net Investment
Income
|
$ 0.132
|
37.7%
|
$ 0.132
|
37.7%
|
Net Realized
Short-Term Capital Gains
|
-
|
-
|
-
|
-
|
Net Realized
Long-Term Capital Gains
|
0.168
|
48.0%
|
0.168
|
48.0%
|
Return of Capital (or
other Capital Source)
|
0.050
|
14.3%
|
0.050
|
14.3%
|
Total
|
$
0.350
|
100.0%
|
$
0.350
|
100.0%
|
As of November 30,
2015
|
|
|
Average annual total
return on NAV since inception (1)
|
5.64%
|
|
Annualized current
distribution rate as a percentage of NAV
|
7.71%
|
|
Cumulative total
return on NAV for the fiscal year
|
-19.96%
|
|
Cumulative fiscal
year distributions as a percentage of NAV
|
7.71%
|
|
(1) Average annual total return on NAV is the annual
compound return from the commencement of the Fund's
operations on July 29,
2011. It reflects the change in the Fund's NAV and
reinvestment of all distributions.
|
|
|
|
|
You should not draw any conclusions about the Fund's investment
performance from the amount of these distributions or from the
terms of the Fund's Plan.
The Fund estimates that it has distributed more than its income
and capital gains; therefore, a portion of your distribution may be
a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the
Fund is paid back to you. A return of capital distribution
does not necessarily reflect the Fund's investment performance and
should not be confused with 'yield' or 'income'.
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 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 with $47.9 billion under
management as of September 30,
2015. 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 and real estate investment trusts (REITs). For more
information, visit www.dpimc.com.
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SOURCE Virtus Investment Partners