D/P SELECTED UTILITIES <DNP> HIKES PAYOUTS Duff and Phelps Selected Utilities Inc said it approved payment of higher monthly dividends. The closed end-investment company approved payment of 4.5 cts on April 10, record March 31; of five cts, payable May 11, record April 30; and of 5.5 cts, payable June 10, record May 29. Duff and Phelps first monthly dividend of four cts was paid on March 10, it noted.