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
January 12, 2012
January 17, 2012
January 31, 2012
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.