DTF TAX-FREE INCOME INC. ANNOUNCES DIVIDENDS AND NAME CHANGE

CHICAGO, Dec. 16, 2021 /PRNewswire/ -- The Board of Directors of DTF Tax-Free Income Inc. (NYSE: DTF) (the "Fund"), a closed-end fund advised by Duff & Phelps Investment Management Co., today authorized the payment of dividends on the Fund's common stock as follows:

As previously announced, at the annual meeting of shareholders on February 26, 2021, shareholders approved amendments to the Fund's charter that establish a limited term of existence for the Fund and will cause the Fund to cease to exist on March 1, 2028, or such earlier date as may be determined by the Fund's Board.  Under the charter amendments, the Board is also authorized to extend the term of the Fund to have a perpetual existence once again, subject to the Fund having conducted a tender offer meeting certain conditions.  In keeping with the amendment to the Fund's charter adding a 2028 termination date for the Fund's existence, in December 2021 the Board approved a change in name for the Fund.  Effective January 3, 2022, the Fund will be known as DTF Tax-Free Income 2028 Term Fund Inc.

About the Fund

DTF Tax-Free Income Inc. is a closed-end diversified investment management company whose investment objective is current income exempt from regular federal income tax consistent with preservation of capital.  The Fund seeks to achieve its investment objective by investing in a diversified portfolio of investment-grade tax-exempt obligations.  For more information, visit www.dpimc.com/dtf or call (800) 338-8214.

About the Investment Adviser

Duff & Phelps Investment Management Co. has more than 40 years of experience managing investment portfolios, including institutional separate accounts and open- and closed-end funds investing in utilities, infrastructure and real estate investment trusts (REITs).  For more information, visit www.dpimc.com.

Duff & Phelps is a subsidiary of Virtus Investment Partners (NASDAQ: VRTS), a multi-boutique asset manager with $177.3 billion under management as of September 30, 2021.  Virtus provides investment management products and services to individuals and institutions through a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand.  Additional information can be found at www.virtus.com.

SOURCE DTF Tax-Free Income Inc.

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