DTF Tax-Free Income Inc. announces an Equity Buyback for 1,491,119 shares, representing 17.5% of its issued share capital.
December 08, 2020 at 12:00 am EST
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DTF Tax-Free Income Inc. (NYSE:DTF) announces a share repurchase program. Under the program, the company will repurchase up to 1,491,119 shares, representing 17.5% of its outstanding shares of common stock. The shares will be purchased at a price per share equal to 98% of the Fund’s net asset value per share (“NAV”) as of the close of January 8,2021. If the offer is oversubscribed, shares will be repurchased on a pro rata basis. The purpose of the offer is to provide liquidity to shareholders. The offer will expire on January 8, 2021.
AST Fund Solutions, LLC acted as a registrar to the company.
DTF Tax-Free Income 2028 Term Fund Inc. (the Fund) is a closed-end diversified investment management company. The Fund's investment objective is current income exempt from regular federal income tax consistent with the preservation of capital. The Fund may not invest more than 25% of its total assets (taken at market value at the time of each investment) in the securities of issuers in a single industry; provided that, for purposes of this restriction, tax-exempt securities of issuers that are states, municipalities or their political subdivisions are not considered to be the securities of issuers in any single industry. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of investment-grade tax-exempt obligations. The Fund invests across sectors, such as special tax, education, healthcare, leasing and transportation. Duff & Phelps Investment Management Co. serves as an investment fund adviser.
DTF TAX-FREE INCOME 2028 TERM FUND INC. 
