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

DNP Select Income Fund Inc. (NYSE:DNP) declared a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 8.15%. The ex-dividend date 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 Price Performance

DNP Select Income Fund stock traded down $0.07 during trading hours on Tuesday, reaching $9.57. The stock had a trading volume of 302,885 shares, compared to its average volume of 700,066. DNP Select Income Fund has a 52 week low of $8.02 and a 52 week high of $10.04. The company has a fifty day simple moving average of $9.39 and a 200-day simple moving average of $9.45.

Insiders Place Their Bets

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