CHICAGO, June 26, 2018 /PRNewswire/ -- The Board of Directors of DNP Select Income Fund Inc. (NYSE: DNP), a closed-end fund advised by Duff & Phelps Investment Management Co., announced today that it has filed a prospectus supplement under which it may issue and sell, from time to time, up to an aggregate of $250 million of its common stock under an "at-the-market" equity offering program (the "ATM Program") through Wells Fargo Securities, LLC. The fund expects to use net proceeds of the ATM Program to purchase additional portfolio securities consistent with its investment objectives and policies as set forth in its prospectus.
The existence of the ATM Program does not change the manner in which current and prospective investors may place orders to purchase the fund's common stock. Current and prospective investors interested in purchasing Shares should contact their investment adviser or broker/dealer.
A copy of the fund's prospectus, including the prospectus supplement relating to the ATM Program, and the fund's statement of additional information may be obtained on the SEC's website at www.sec.gov. The prospectus, including any supplements, may also be found on the fund's website www.dnpselectincome.com.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities discussed herein, nor shall there be any offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. An investment in the fund is subject to a risk of loss, and the risks of investing in the fund are fully described in the fund's prospectus. An investor should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. The prospectus supplement, as well as the prospectus, contains this and other information about the fund. An investor may obtain a prospectus supplement, as well as the prospectus, as set forth in the above paragraph. The prospectus supplement and prospectus should be read carefully before investing.
About the Fund
DNP Select Income Fund Inc. is a closed-end diversified investment management company whose primary investment objectives are current income and long-term growth of income. Capital appreciation is a secondary objective. The fund seeks to achieve these objectives by investing primarily in a diversified portfolio of equity and fixed income securities of companies in the public utilities industry. For more information, visit www.dnpselectincome.com or call (800) 864-0629.
About the Investment Adviser
Duff & Phelps Investment Management Co. has more than 39 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.
Duff & Phelps is a subsidiary of Virtus Investment Partners (NASDAQ: VRTS), a multi-boutique asset manager with $89.1 billion under management as of March 31, 2018. Virtus provides investment management products and services to individuals and institutions through a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Additional information can be found at www.virtus.com.