Duff & Phelps Utility And Infrastructure Fund Inc. Announces Share Repurchase Program Up To 5% Of The Fund's Outstanding Shares Through June 30, 2025
Portfolio Pulse from Benzinga Newsdesk
Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) has announced a share repurchase program to buy back up to 5% of its outstanding shares through June 30, 2025. The program aims to enhance shareholder value and reduce the discount to NAV at which its shares currently trade.
June 17, 2024 | 8:10 pm
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Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE:DPG) has initiated a share repurchase program to buy back up to 5% of its outstanding shares through June 30, 2025. This move is expected to enhance shareholder value and reduce the discount to NAV at which its shares currently trade.
The share repurchase program is likely to have a positive impact on DPG's stock price in the short term as it aims to enhance shareholder value and reduce the discount to NAV. The buyback could lead to incremental accretion to the Fund's NAV, making the shares more attractive to investors.
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