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

DNP Select Income Fund Inc. (NYSE:DNP) declared a monthly dividend on Wednesday, March 19th, Wall Street Journal reports. Stockholders of record on Monday, June 30th will be paid 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 dividend yield of 8.15%. The ex-dividend date of this dividend is Monday, June 30th.

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

DNP Select Income Fund Stock Performance

Shares of DNP stock opened at $9.57 on Wednesday. DNP Select Income Fund has a 52-week low of $8.02 and a 52-week high of $10.04. The firm has a fifty day moving average of $9.40 and a 200-day moving average of $9.45.

Insider Activity

In related news, Director Geraldine M. Mcnamara sold 11,391 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.41, for a total transaction of $107,189.31. Following the completion of the sale, the director now owns 5,344 shares in the company, valued at $50,287.04. This trade represents a 68.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

About DNP Select Income Fund

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.