Yes, managed distribution policies where long-term capital gains can be paid out as frequently as 12 times per year (for monthly payers) instead of the once per year limitation of 19(b).

Here's the link to the SEC page: 

http://www.sec.gov/rules/icreleases.shtml

DNP is the latest to be granted exemption from section 19(b) of the Act and rule 19b-1.

August 25th the key date.

The CEF currently trades at a staggering 26% premium to NAV. I find it interesting that DNP has had a steady distribution for over 20 years! Paid $0.06 until August 1997, then increased to $0.065. Has to rate as one of the best cash cows in modern CEF history since the NAV has remained relatively intact for the entire period.

shreinstein:

DNP is the latest to be granted exemption from section 19(b) of the Act and rule 19b-1.

August 25th the key date.

The CEF currently trades at a staggering 26% premium to NAV. I find it interesting that DNP has had a steady distribution for over 20 years! Paid $0.06 until August 1997, then increased to $0.065. Has to rate as one of the best cash cows in modern CEF history since the NAV has remained relatively intact for the entire period.

http://www.sec.gov/rules/ic/2008/ic-28348.pdf

Steve

I inherited this fund and was wondering if I should begin to add to the reinvestment program?

magoglas