On December 19, 2019, the Board of Directors of Duff & Phelps Utility and Corporate Bond Trust Inc. authorized the payment of dividends on the Fund's common stock as follows: The Board of Directors determined that the Fund's monthly dividend payable January 31, 2020, February 28, 2020 and March 31, 2020 will be in the amount of 5.0 cents per share. The ex-dividend dates of January 14, 2020, February 14, 2020 and March 13, 2020. The record dates of January 15, 2020, February 18, 2020 and March 16, 2020. This dividend rate represents an increase of 1.5 cents per share and 43% from the previous 3.5 cent per share monthly distribution rate.