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CHICAGO, March 8, 2021 /PRNewswire/ DNP Select Income Fund Inc. (NYSE: DNP) (the Fund ) today announced that the merger of Duff & Phelps Utility and Corporate Bond Trust Inc. (NYSE: DUC) with and into DNP has been completed. The combined fund retains DNP s name and ticker symbol, as well as DNP s investment objectives, strategies and policies. This transaction was previously announced on November 23, 2020. DUC shareholders approved the merger on February 22, 2021.
DUC shares ceased trading on the NYSE at the close of business on Friday, March 5, 2021. Prior to the opening of today s trading session on the NYSE, each share of DUC common stock was converted into the number of shares of DNP common stock equal to the ratio of the net asset value (NAV) per share of DUC common stock to the NAV per share of DNP common stock at the close of business on the NYSE on Friday, March 5, 2021:
June 30, 2021
The Fund adopted a Managed Distribution Plan (the Plan ) in 2015 to maintain its current 35 cents per share distribution rate. Under the Plan, the Fund will distribute all available investment income to its shareholders, consistent with the Fund s investment objective. If and when sufficient investment income is not available on a quarterly basis, the Fund will distribute realized capital gains and/or return of capital to its shareholders in order to maintain the 35 cents per share distribution level.
The following table sets forth the estimated amounts of the Fund s March quarterly distribution to shareholders of record at the close of business on March 15, 2021 (ex-date March 12, 2021), payable March 31, 2021, together with the cumulative distributions paid this fiscal year to date from the following sources. All amounts are expressed per share of common stock based on U.S. generally accepted accounting principles which may differ from federal income tax regulation
MDC Partners Inc. (NASDAQ: MDCA)
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of MDC Partners Inc. (NASDAQ: MDCA) in connection with the company s proposed combination with Stagwell Media LP ( Stagwell ). Under the terms of the agreement, MDCA s shareholders will receive just 26% of the common equity of the post-transaction entity. If you own MDCA shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://weisslawllp.com/mdca/
Anworth Mortgage Asset Corporation (NYSE: ANH)
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of
/PRNewswire/ If you own shares in any of the companies listed above and would like to discuss our investigations or have any questions concerning this.