1
|
NAME OF REPORTING PERSON
Karpus Investment Management
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) x
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
WC
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
7,287,855
|
|
8
|
SHARED VOTING POWER
-
|
||
9
|
SOLE DISPOSITIVE POWER
7,287,855
|
||
10
|
SHARED DISPOSITIVE POWER
-
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,287,855
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.51%
|
||
14
|
TYPE OF REPORTING PERSON
IA
|
1
|
NAME OF REPORTING PERSON
George W. Karpus
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) x
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
WC, PF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
0*
|
|
8
|
SHARED VOTING POWER
18,875*
|
||
9
|
SOLE DISPOSITIVE POWER
0*
|
||
10
|
SHARED DISPOSITIVE POWER
18,875*
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,875*
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
|
||
14
|
TYPE OF REPORTING PERSON
IN
|
Item 2.
|
Identity and Background.
|
Item 4.
|
Purpose of Transaction.
|
Item 5.
|
Interest in Securities of the Issuer.
|
A
..
|
Karpus Investment Management
|
|
(a)
|
As of the close of business on
September 13, 2019,
Karpus Investment Management
beneficially owned
7,287,855
Shares held in the Accounts.
|
|
(b)
|
1. Sole power to vote or direct vote:
7,287,855
|
|
2. Shared power to vote or direct vote:
-
|
|
3. Sole power to dispose or direct the disposition:
7,287,855
|
|
4. Shared power to dispose or direct the disposition:
-
|
|
(c)
|
Karpus Investment Management has had no transactions since the last filing. 739 shares were transferred out as a part of an account closing on September 12, 2019.
|
B
..
|
George W. Karpus
|
|
(a)
|
As of the close of business on
September 13, 2019
,
George W. Karpus
beneficially owned
-
Shares. In addition,
George W. Karpus
may be deemed to beneficially own the
18,875
Shares held in the Karpus Entities.
|
|
(b)
|
1. Sole power to vote or direct vote:
-
|
|
2. Shared power to vote or direct vote:
18,875
|
|
3. Sole power to dispose or direct the disposition:
-
|
|
4. Shared power to dispose or direct the disposition:
18,875
|
|
(c)
|
Neither
George W. Karpus
nor the Karpus Entities have had any transactions in the Shares since the last filing.
|
Item 6.
|
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
|
Item 7.
|
Material to be Filed as Exhibits.
|
|
99.1
|
14a-8 Shareholder Proposal Sent to the Issuer on September 13, 2019.
|
|
99.2
|
Joint Filing Agreement Dated September 13, 2019.
|
KARPUS MANAGEMENT, INC.
|
|||
By:
|
/s/ Daniel L. Lippincott, CFA
|
||
Name:
|
Daniel L. Lippincott, CFA
|
||
Title:
|
Director of Investment Personnel and Senior Tax-Sensitive Manager
|
/s/ George W. Karpus
|
|
GEORGE W. KARPUS
|
Name
|
Position & Present Principal Occupation
|
Business Address
|
Shares Owned
|
George W. Karpus
|
President, CEO, and Chairman of the Board
|
183 Sully’s Trail, Pittsford, New York 14534
|
See Above
|
Kathleen Finnerty Crane
|
Chief Financial Officer
|
183 Sully’s Trail, Pittsford, New York 14534
|
125
Shares
|
Dana R. Consler
|
Executive Vice President
|
183 Sully’s Trail, Pittsford, New York 14534
|
2,000
Shares
|
Thomas M. Duffy
|
Vice President
|
183 Sully’s Trail, Pittsford, New York 14534
|
0
Shares
|
Sharon L. Thornton
|
Chief Compliance Officer
|
183 Sully’s Trail, Pittsford, New York 14534
|
0
Shares
|
Daniel L. Lippincott, CFA
|
Sr. Tax-Sensitive Manager and Director of Investment Personnel
|
183 Sully’s Trail, Pittsford, New York 14534
|
0
Shares
|
VIA FEDERAL EXPRESS September 13, 2019 Duff & Phelps Utility and Corporate Bond Trust Inc. c/o William J. Renahan, Secretary 200 S. Wacker Drive, Suite 500 Chicago, Illinois 60606 Re: 14a-8 Shareholder Proposal for Duff & Phelps Utility and Corporate Bond Trust Inc. ("DUC" or the "Fund") Mr. Renahan:This letter shall serve as notice to the Duff & Phelps Utility and Corporate Bond Trust Inc. ("DUC" or the "Fund"), as to Karpus Management, Inc.'s ("Karpus") timely submittal of a shareholder proposal pursuant to Rule 14a-8 of the Securities Exchange Act of 1934 for presentation to DUC's shareholders at the Fund's next annual shareholders' meeting anticipated to be held in March 2020, or any postponement or adjournment thereof (the "Meeting"). Karpus' non-binding 14a-8 shareholder proposal (the "Proposal") is as follows:
10 Yr.
|
5 Yr.
|
1 Yr.
|
YTD
|
Market Return
|
3.76%
|
3.50%
|
11.89%
|
13.49%
|
|
Lipper Pct. Rank
|
95
|
97
|
38
|
89
|
NAV Return
|
4.26%
|
2.94%
|
8.29%
|
7.92%
|
|
Lipper Pct. Rank
|
89
|
89
|
35
|
71
|
Sincerely, /s/ Brett D. Gardner Brett D. Gardner Senior Corporate Governance Analyst
KARPUS MANAGEMENT, INC.
|
|||
By:
|
/s/ Daniel Lippincott
|
||
Name:
|
Daniel Lippincott
|
||
Title:
|
Director of Investment Personnel and
Sr. Tax-Sensitive Portfolio Manager |
/s/ George W. Karpus
|
|
GEORGE W. KARPUS
|