Duff & Phelps Utility and Corporate Bond Trust : DUC Utility and Corporate Bond Trust SEC 19(a) Notice Feb 21

DUFF & PHELPS UTILITY AND CORPORATE BOND TRUST INC.

Statement Pursuant to Section 19(a)

of the Investment Company Act of 1940

The Fund seeks to provide investors with a stable monthly distribution that is primarily derived from current net investment income. At times, a portion of a distribution may also be derived from realized capital gains and, to the extent necessary, paid-in capital.

The final tax characterization of distributions from the Fund can only be determined at the end of the year. The Fund is required to indicate the source of each distribution to shareholders based on U.S. generally accepted accounting principles ("GAAP"). The characterization of the Fund's distributions for federal income tax purposes and GAAP purposes may differ primarily due to the treatment of amortization for premiums and discounts on fixed income securities.

On February 26, 2021, the Fund paid a distribution on its common stock of $0.05 per share to shareholders of record at the close of business on February 16, 2021. Under GAAP, the Fund estimates that 40% of that distribution is attributable to current year net investment income and 60% is in excess of current year net investment income and is therefore attributable to paid-in capital.

As of the date of this notice, the Fund estimates that its current-year distributions will be derived from both net investment income and paid-in capital for federal income tax purposes.

A Form 1099-DIV will be sent to shareholders which will state the amount and tax characterization of current-year distributions.

February 26, 2021

CUSIP: 26432K108