Company Announcements

Duff & Phelps Utility and Infrastructure Fund Inc. Announces Dividend and Discloses Sources of Distribution Section 19(a) Notice

CHICAGO, Sept. 21, 2021 /PRNewswire/ -- The Board of Directors of Duff & Phelps Utility and Infrastructure 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


Record Date

Payable Date


December 14, 2021

December 15, 2021

December 31, 2021

The Fund adopted a Managed Distribution Plan (the "Plan") in 2015 to maintain its current 35 cents 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 cents per share distribution level.

The following table sets forth the estimated amounts of the Fund's September quarterly distribution to shareholders of record at the close of business on September 15, 2021 (ex-date September 14, 2021), payable September 30, 2021, 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

September 2021 (QTD)

Year-to-date (YTD)




Per Share


% of Current Distribution

Per Share Amount

% of

Cumulative Distributions

Net Investment Income

$        0.044


$        0.125


Net Realized Short-Term Capital Gains





Net Realized Long-Term Capital Gains





Return of Capital (or other Capital Source)






$        0.350


$        1.400


As of August 31, 2021

Average annual total return on NAV for the 5 years


Annualized current distribution rate as a percentage of NAV


Cumulative total return on NAV for the fiscal year


Cumulative fiscal year distributions as a percentage of NAV


The Fund will issue a separate 19(a) notice at the time of each quarterly distribution using the most current financial information available.  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 managed distribution 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 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.

About the Fund

Duff & Phelps Utility and Infrastructure 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 companies in the infrastructure and utility industries. The Fund considers the infrastructure industry to include companies that derive at least 50% of their revenue or profits from owning or operating infrastructure assets, which include toll roads, bridges, tunnels, airports, seaports, and railroads. The Fund considers the utility industry to include companies that commit or derive at least 50% of their assets, gross income or profits in the electric, gas, water, telecommunications and midstream energy sectors.  For more information, please contact shareholder services at (866) 270-7598, by email at, or visit the DPG website,

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


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