DTF Tax-Free Income 2028 Term Fund declares $0.0325 monthly dividend

DTF Tax-Free Income 2028 Term Fund declared a monthly dividend of $0.0325 per share, the fund said. The forward yield is 3.42%. The July dividend is payable July 30 to shareholders of record July 15. The ex-dividend date is also July 15.

The fund announced dividends for August and September at the same rate. The August dividend is payable Aug 28 with ex-div Aug 17. The September dividend is payable Sep 29 with ex-div Sep 15.

DTF is a closed-end term fund that invests in tax-free municipal bonds. It is scheduled to terminate in 2028, at which point it will distribute its net assets to shareholders. The monthly dividend provides a steady income stream, and the tax-free status is a key draw for investors in higher tax brackets.

The ex-dividend date matters for anyone trading the shares. Buyers on or after July 15 will not receive the July dividend. The share price typically adjusts downward by the dividend amount on the ex-date. For income-focused investors, the key is to own shares before the record date.

The 3.42% forward yield is competitive with other municipal bond funds. The tax exemption adds to the appeal for taxable accounts. The fund's dividend scorecard and yield chart are available for those tracking the payout history.

The next dividend payment after September will be announced in due course. The fund's termination date remains 2028.