Governance
Corporate Documents
Code of Business Conduct & Ethics
The Board of Directors of each of DNP Select Income Fund Inc., DTF Tax-Free Income Inc., Duff & Phelps Utility and Corporate Bond Trust Inc. and Duff & Phelps Global Utility Income Fund Inc. (each a "Fund" and, collectively, the "Funds") has adopted this Joint Code of Business Conduct and Ethics.
The Board of Directors of each of DNP Select Income Fund Inc., DTF Tax-Free Income Inc., Duff & Phelps Utility and Corporate Bond Trust Inc. and Duff & Phelps Global Utility Income Fund Inc. (each a “Fund” and, collectively, the “Funds”) has adopted these Joint Corporate Governance Guidelines.
Proxy Voting Policies and Procedures
It is the intention of the Fund to exercise voting stock ownership rights in portfolio holdings in a manner that is reasonably anticipated to further the best economic interests of shareholders of the Fund. Accordingly, the Fund or its Delegate(s) shall endeavor to analyze and vote all proxies that are considered likely to have financial implications, and, where appropriate, to participate in corporate governance, shareholder proposals, management communications and legal proceedings. The Fund and its Delegate(s) must also identify potential or actual conflicts of interests in voting proxies and address any such conflict of interest in accordance with these Policies and Procedures.
The Contracts Committee has been established by the Board of Directors (the “Board”) of each of the above-captioned funds (each, a “Fund”) to review the performance of, and the reasonableness of the fees paid to, the Fund’s investment adviser (the “Investment Adviser”) and the Fund’s administrator (the “Administrator”) and to make recommendations to the Board regarding the Fund’s contractual arrangements for investment advisory and administrative services, including the terms of such contracts and the continuation of such contracts.
Nominating & Governance Committee Charter
The Nominating and Governance Committee has been established by the Board of Directors to: (1) identify individuals qualified to become Board members and recommend director nominees to the Board for election at each annual meeting of shareholders and for appointment by the Board to fill interim vacancies, (2) recommend to the Board the individuals to be appointed as members and chairpersons of Board committees and as officers of the Fund, (3) review the compensation paid to directors and recommend to the Board changes in compensation as appropriate, (4) develop and recommend to the Board policies and procedures relating to corporate governance, (5) lead the Board in its annual review of the Board’s performance and (6) assist the Board in fulfilling its oversight responsibilities with respect to matters relating to the interests of shareholders of the Fund.
Procedures for Complaints Regarding Accounting, Internal Accounting Controls or Auditing Matters
The Audit Committee of the Board of Directors (the “Audit Committee”) of each of the above-captioned funds (collectively, the “Funds” and each individually, a “Fund”) has established the following procedures (these “Procedures”) pursuant to Section 10A(m)(4) of the Securities Exchange Act of 1934, as amended by Section 301 of the Sarbanes-Oxley Act of 2002.
- Audit Committee Charter
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The Audit Committee has been established by the Board of Directors (the “Board”) of each of the above-captioned funds (each, a “Fund”)1 to assist the Board in overseeing the Fund’s accounting, auditing, financial reporting and internal control functions, including, without limitation, the oversight of:
- Code of Ethics for Chief Executive and Senior Financial Officers
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Each of DNP Select Income Fund Inc., DTF Tax-Free Income Inc., Duff & Phelps Utility and Corporate Bond Trust Inc., and Duff & Phelps Global Utility Income Fund Inc. (each a “Fund” and, collectively, the “Funds”)1 is committed to conducting business in accordance with applicable laws, rules and regulations and the highest standards of business ethics, and to full and accurate disclosure – financial and otherwise – in compliance with applicable law. This Code of Ethics, applicable to the Fund’s Chief Executive Officer, President, Chief Financial Officer and Treasurer (or persons performing similar functions) (together, “Senior Officers”), sets forth policies to guide you in the performance of your duties.