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Duff & Phelps Utility and Infrastructure Fund Inc. Announces Renewal of Share Repurchase Program and Monthly Distributions

1. DPG renews its share repurchase program until June 2026. 2. Up to 5% of outstanding shares may be repurchased at a discount. 3. The program aims to enhance shareholder value through NAV accretion. 4. Monthly distributions of $0.07 maintained even if income is insufficient. 5. Fund invests primarily in utility and infrastructure equity securities.

Shares Buyback
-1.23%Current Return
VS
-0.87%S&P 500
$12.2406/16 05:00 PM EDTEvent Start
$12.0906/17 11:22 PM EDTLatest Updated
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FAQ

Why Bullish?

Share repurchase programs generally signal confidence in a firm's value, often leading to price appreciation. Historically, funds with active buyback programs such as DPG tend to see positive price reactions as supply decreases.

How important is it?

The article highlights critical actions regarding share repurchase and dividends, directly affecting DPG's market position and investor sentiment. Outlined strategies support sustenance of price performance through value enhancement.

Why Long Term?

Repurchase programs and dividends solidly position DPG for sustained performance, potentially increasing investor interest over time. Moreover, sustained buybacks can enhance the value created for shareholders, reflecting positively in the longer term.

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VRTSDWMBEDDTE
CHICAGO--(BUSINESS WIRE)--The Board of Directors of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG), a closed-end fund advised by Duff & Phelps Investment Management Co. (the “Adviser”), announced today the renewal of its open market share repurchase program. Under the Fund’s current repurchase program the Fund is authorized to purchase, on a discretionary basis through June 30, 2025, up to 5% of its outstanding common shares on the open market at a discount to net asset value (“NAV”). Pursuant to the renewed share repurchase program, commencing July 1, 2025, the Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on June 30, 2025) on the open market at a discount to NAV through June 30, 2026. The repurchase program seeks to enhance shareholder value by purchasing shares of the Fund in the open market at a discount to NAV, which could result in incremental accretion to the Fund’s NAV. Under the program, the amount and timing of repurchases will be at the discretion of the Adviser and subject to market conditions and investment considerations. There is no assurance that the Fund will purchase shares at any particular discount levels or in any particular amounts. Any repurchases made under the program will be subject to New York Stock Exchange requirements and volume, timing, and other limitations under federal securities laws. The Fund’s share repurchase activity will be disclosed in the annual and semi-annual reports to shareholders. The Board has authorized the payment of dividends on its common stock as follows: The Fund adopted a managed distribution plan (the “Plan”) in 2015. 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 monthly basis, the Fund will distribute realized capital gains and/or return of capital to its shareholders in order to maintain the monthly $0.07 per share distribution level. The following table sets forth the estimated amounts of the Fund’s May 2025 distribution to shareholders of record at the close of business on May 30, 2025 (ex-date May 30, 2025), payable June 10, 2025, together with the cumulative distributions paid from the first day of the fiscal year to this month end 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 regulations. The Fund will issue a separate 19(a) notice at the time of each distribution using the most current financial information available. You should not draw any conclusions about the Fund’s investment performance from the amount of these distributions or from the terms of the 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. About the Fund Duff & Phelps Utility and Infrastructure Fund Inc. is a closed-end investment management company whose investment objective is to seek total return, resulting primarily from (i) a high level of current income, with an emphasis on providing tax-advantaged dividend income and (ii) growth in current income, and secondarily from capital appreciation. The Fund seeks to achieve these objectives by investing primarily in equities of domestic and foreign utilities and infrastructure providers. Under normal market conditions, the Fund will invest at least 80% of its total assets in dividend-paying equity securities of companies in the utility industry and the infrastructure industry. The utility industry is defined to include the following sectors: electric, gas, water, telecommunications, and midstream energy. The infrastructure industry is defined as companies owning or operating essential transportation assets, such as toll roads, bridges, tunnels, airports, seaports, and railroads. For more information, contact shareholder services at (866) 270-7598, by email at duff@virtus.com, or visit the DPG website, dpimc.com/dpg. About the Investment Adviser Duff & Phelps Investment Management Co. is a boutique investment manager that specializes in listed real asset strategies for institutional and individual clients. An investment manager of Virtus Investment Partners, Inc. (NYSE: VRTS), the firm began in 1932 as a fundamental research firm and has been managing assets since 1979. The firm seeks to provide specialty investment strategies that enhance client outcomes through active portfolio management and customized solutions, utilizing a process with values that include quality, reliability, and specialization. Investment strategies include U.S. and global real estate securities, global listed infrastructure, energy infrastructure, water, and clean energy. For more information visit dpimc.com.

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