PR Newswire | Dec 16, 2021 05:03PM EST

12/16 16:03 CST

DNP SELECT INCOME FUND ANNOUNCES DIVIDENDS AND SOURCES OF DISTRIBUTION CHICAGO, Dec. 16, 2021

CHICAGO, Dec. 16, 2021 /PRNewswire/ --The Board of Directors of DNP Select Income Fund Inc. (NYSE: DNP), 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 Ex-Dividend Date Record Date Payable Date

6.5 January 28, 2022 January 31, 2022 February 10, 2022

6.5 February 25, 2022 February 28, 2022 March 10, 2022

6.5 March 30, 2022 March 31, 2022 April 11, 2022

The Fund adopted a Managed Distribution Plan (the "Plan") in 2007 to maintain its current 6.5 cent per share distribution rate. Under the Plan, the Fund will distribute all available investment income to its shareholders, consistent with the Fund's primary objective. If and when sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital to its shareholders in order to maintain the 6.5 cent per share distribution level.

The following table sets forth the estimated amounts of the Fund's current monthly distribution, payable December 10, 2021, together with the cumulative distributions paid this fiscal year to date from the following sources. The fiscal year is from November 1, 2021 to October 31, 2022. 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.

Notification of Sources of DistributionDistribution Period: November 2021Distribution Amount Per Share of Common Stock: $0.065

Distribution Estimates November 2021 Fiscal YTD

Per Share % of Current Per Share % of Amount Distribution Amount Cumulative Distributions

Net Investment Income $0.025 38% $0.025 38%

Net Realized Short-Term Capital - - - -Gains

Net Realized Long-Term Capital 0.002 3% 0.002 3%Gains

Return of Capital (or Other 0.038 59% 0.038 59%Capital Source)

Total $0.065 100% $0.065 100%(per common share)

October 31, 2021

Average annual total return* on NAV for the 5 years ended 9.45%

Annualized current distribution rate as a percentage of NAV8.26%

Cumulative total return on NAV for the fiscal YTD 18.76%

Cumulative fiscal year distributions as a percentage of NAV8.26%

* Simple arithmetic average of each of the past five annual returns.

You should not necessarily draw any conclusions about the Fund's investment performance from the amount of these distributions or from the terms of the Fund's Plan.

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.

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

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. 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, please visit www.dpimc.com/dnp or call (800) 864-0629.

About the Investment Adviser

Duff & Phelps Investment Management Co. has more than 40 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 $177.3 billion under management as of September 30, 2021. 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.

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SOURCE DNP Select Income Fund Inc.