Company: DNP
Filing Date: 2025-06-20
Form Type: N-CSRS
Source: 0001193125-25-143433
Chunk: 1

Company: DNP SELECT INCOME FUND INC
Filing Date: 2025-06-20
Form: N-CSRS
Chunk 1
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 should not be confused with “yield” or “income.”

You should not draw any
conclusions about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Managed Distribution Plan.

Whenever a monthly distribution
includes a capital gain or return of capital component, the Fund provides you with a written statement indicating the sources of the distribution and the amount derived from each source.

The
amounts and sources of distributions reported monthly in statements from the Fund are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the
Fund’s investment results during its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax
purposes.

The Board
reviews the operation of the Managed Distribution Plan on a quarterly basis, with the most recent review having been conducted in June 2025, and the Adviser uses data provided by an independent consultant to review for the Board the Managed
Distribution Plan annually. The Board may amend, suspend or terminate the Managed Distribution Plan without prior notice to shareholders if it deems such action to be in the best interests of the Fund and its shareholders. For example, the Board
might take such action if the Managed Distribution Plan had the effect of shrinking the Fund’s assets to a level that was determined to be detrimental to Fund shareholders. The suspension or termination of the Managed Distribution Plan could
have the effect of creating a trading discount if the Fund’s stock is trading at or above net asset value, widening an existing trading discount, or decreasing an existing premium.

The
Managed Distribution Plan is described in a Question and Answer format on your Fund’s website, www.dpimc.com/dnp, and discussed in the section of management’s letter captioned “About Your Fund.” The tax characterization of
the Fund’s distributions for the last 5 years can also be found on the website under the “Tax Information” tab.

LETTER TO SHAREHOLDERS JUNE 12, 2025 Dear Fellow Shareholders: Performance Review: Consistent with its primary objective of current income and long-term growth of income, and its Managed Distribution Plan, the Fund declared six monthly distributions of 6.5 cents per share of common stock during the first half of the 2025 fiscal year. The 6.5 cents per share monthly rate, without compounding,