DNP Select Income Fund (NYSE:DNP)
By Stealthy at 4 December, 2008, 1:12 am
I’ve been watching DNP Select Income Fund for a while now. Dividends have been paid since 1989 on a monthly basis. They primarily invests in a diversified portfolio of equity and fixed-income securities of companies in the public utilities industry. Today it closed at $6.58/share for a dividend yield of 11.85%. This stock held nicely at around 10-11 per share most of this past year until it hit the end of September. Most of the companies it is invested in pays pretty good dividends and continue to do so. the companies it holds have fallen making the NAV of the fund to fall. I believe that when the economy picks back up and the their holdings share prices start climbing back up this stock will climb back to the $9-$10 range. the almost 12% dividend is a nice bonus. They seem to be able to continue to pay the dividend because of the income from the companies they hold shares in.
This is at the top of my list to buy once the new year rolls around and I start investing “x” amount of dollars each month. I’m still getting used to the budget of being married and will have a better grasp on my finances once the new year rolls around.
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