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Duff & Phelps Closed-End Funds Announce Dividends

CHICAGO, Feb. 18, 2014 /PRNewswire/ -- The Board of Directors of Duff & Phelps Global Utility Income Fund Inc. (NYSE: DPG), Duff & Phelps Utility and Corporate Bond Trust Inc. (NYSE: DUC) and DTF Tax-Free Income Inc. (NYSE: DTF), three closed-end funds advised by Duff & Phelps Investment Management Co., today authorized the payment of dividends on each fund's common stock as follows:

Duff & Phelps Global Utility Income Fund Inc. (Quarterly pay)

Cents Per Share

Record Date

Payable Date

35.0

March 17, 2014

March 31, 2014

35.0

June 16, 2014

June 30, 2014

Duff & Phelps Utility and Corporate Bond Trust Inc. (Monthly pay)

Cents Per Share

Record Date

Payable Date

7.0

March 17, 2014

March 31, 2014

7.0

April 15, 2014

April 30, 2014

7.0

May 15, 2014

May 30, 2014

7.0

June 16, 2014

June 30, 2014

DTF Tax-Free Income Inc. (Monthly pay)

Cents Per Share

Record Date

Payable Date

7.0

March 17, 2014

March 31, 2014

7.0

April 15, 2014

April 30, 2014

7.0

May 15, 2014

May 30, 2014

7.0

June 16, 2014

June 30, 2014

About the Funds

Duff & Phelps Global Utility Income Fund Inc. is a closed-end non-diversified investment management company whose investment objective is to seek total return, resulting primarily from a high level of current income, with an emphasis on tax-advantaged dividend income, and growth in current income, and secondarily from capital appreciation, by investing in equities of domestic and foreign utility companies in the electric, gas, water, telecommunications, and midstream energy sectors. For more information, visit www.dpgfund.com or call (866) 270-7598.

Duff & Phelps Utility and Corporate Bond Trust Inc. is a closed-end diversified investment management company whose primary investment objective is high current income consistent with investing in securities of investment grade quality. The fund seeks to achieve its objectives by investing substantially all of its assets in a diversified portfolio of utility income securities, corporate income securities, mortgage-backed securities and asset-backed securities. For more information, visit www.ducfund.com or call (800) 338-8214.

DTF Tax-Free Income Inc. is a closed-end diversified investment management 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) 338-8214.

About the Investment Adviser

Duff & Phelps Investment Management Co. has more than 35 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 $57.7 billion under management as of December 31, 2013. 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 Duff & Phelps Global Utility Income Fund Inc.; Duff & Phelps Utility and Corporate Bond Trust Inc.; DTF Tax-Free Income Inc.

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