DNP Select Income Fund Inc. Announces Monthly Dividend of $0.07 (NYSE:DNP)

DNP Select Income Fund Inc. (NYSE:DNP) announced a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.065 per share by the investment management company on Thursday, July 10th. This represents a $0.78 dividend on an annualized basis and a yield of 8.15%. The ex-dividend date of this dividend is Monday, June 30th.

DNP Select Income Fund has decreased its dividend by an average of 7.0% annually over the last three years.

DNP Select Income Fund Stock Down 0.7 %

NYSE:DNP opened at $9.57 on Wednesday. DNP Select Income Fund has a 1 year low of $8.02 and a 1 year high of $10.04. The stock’s 50 day simple moving average is $9.40 and its two-hundred day simple moving average is $9.45.

Insiders Place Their Bets

In other news, Director Geraldine M. Mcnamara sold 11,391 shares of DNP Select Income Fund stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.41, for a total value of $107,189.31. Following the completion of the transaction, the director now owns 5,344 shares in the company, valued at approximately $50,287.04. The trade was a 68.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

DNP Select Income Fund Company Profile

DNP Select Income Fund Inc is a closed ended balanced mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests in the public equity and fixed income markets of the United States. For the fixed income portion, the fund invests in bonds.