CHICAGO, Nov. 23, 2020 /PRNewswire/ -- The Board of Directors of DNP Select Income Fund Inc. ( DNP ) and Duff & Phelps Utility and Corporate Bond Trust Inc. ( DUC ), closed-end funds advised by Duff & Phelps Investment Management Co., today announced a proposed merger of DUC with and into DNP. Subject to the approval of the shareholders of DUC, DUC will merge into DNP, with DNP as the surviving company of the merger. The combined fund will retain DNP's name and ticker symbol, as well as DNP's investment objectives, strategies and policies. Each fund's board approved the recommendation of Duff & Phelps Investment Management Co. to merge the two funds.