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.
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SOURCE Duff & Phelps Global Utility Income Fund Inc.