On September 13, 2019, Karpus Investment Management sent a letter containing a 14a-8 stockholder proposal to Duff & Phelps Utility and Corporate Bond Trust, Inc. requesting that the Board consider authorizing a self-tender for all outstanding Shares of the Company at or close to net asset value at the Company's next annual shareholders' meeting anticipated to be held in March 2020, or any postponement or adjournment thereof.