Business & Finance
Wed, December 14, 2011Tue, December 13, 2011DTF Tax-Free Income Inc. Announces Dividends
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Published in Business and Finance on Tuesday, December 13th 2011 at 14:05 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
DTF Tax-Free Income Inc. Announces Dividends -- CHICAGO, Dec. 13, 2011 /PRNewswire/ --
DTF Tax-Free Income Inc. Announces Dividends
CHICAGO, Dec. 13, 2011 /PRNewswire/ -- On December 12, 2011, the Board of Directors of DTF Tax-Free Income Inc. (NYSE: [ DTF ]), a closed-end fund advised by Duff & Phelps Investment Management Co., authorized the payment of dividends on the Fund's common stock as follows:
Cents Per Share |
Ex-Dividend Date |
Record Date |
Payable Date |
7.0 | January 12, 2012 | January 17, 2012 | January 31, 2012 |
7.0 | February 13, 2012 | February 15, 2012 | February 29, 2012 |
The Board of Directors determined that the DTF Tax-Free Income Inc. monthly dividend payable January 31, 2012 and February 29, 2012 will be in the amount of 7.0 cents per share. This dividend rate represents an increase of 0.25 cent per share from the previous 6.75 cents per share monthly distribution rate. This increase in the dividend rate is intended to better align the Fund's monthly distribution with its current and projected earnings and is subject to re-evaluation as the interest rate and credit environment changes.
About the Fund
DTF Tax-Free Income Inc. is a closed-end diversified investment company whose investment objective is current income exempt from regular federal income tax consistent with preservation of capital. The fund seeks to achieve its investment objective by investing in a diversified portfolio of investment-grade tax-exempt obligations. For more information, visit [ www.dtffund.com ] or call (800) 243-4361, extension 4941.
About the Investment Adviser
Duff & Phelps Investment Management Co. has more than 28 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 $33.1 billion under management as of September 30, 2011. 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 ].
SOURCE DTF Tax-Free Income Inc.
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[ http://www.dtffund.com ]