Wells Fargo Closed-End Funds Declare Monthly & Quarterly Dividends; Wells Fargo Global Dividend Opportunity Fund Reduces Divi...
February 18 2016 - 6:50PM
Business Wire
The Wells Fargo Income Opportunities Fund (NYSE MKT: EAD), the
Wells Fargo Multi-Sector Income Fund (NYSE MKT: ERC), the Wells
Fargo Utilities and High Income Fund (NYSE MKT: ERH), and the Wells
Fargo Global Dividend Opportunity Fund (NYSE: EOD) have each
announced a dividend declaration. The amount per share declared by
the Wells Fargo Global Dividend Opportunity Fund is reduced from
its prior dividend.
Ticker Fund
Name Dividend/share
Change from
prior dividend
EAD Wells Fargo Income
Opportunities Fund/monthly
$0.068/share - ERC Wells Fargo
Multi-Sector Income Fund/monthly $0.0967/share - ERH Wells Fargo
Utilities and High Income Fund/monthly $0.075/share -
EOD
Wells Fargo Global Dividend Opportunity
Fund/quarterly
$0.135/share
-$0.045
The following dates apply to today's dividend declaration for
each fund:
Declaration date
February 18, 2016 Ex-dividend date March 11, 2016
Record date March 15, 2016 Payable date April 1, 2016
The Wells Fargo Income Opportunities Fund is a closed-end
high-yield bond fund. The fund’s investment objective is to seek a
high level of current income. The fund may, as a secondary
objective, seek capital appreciation to the extent it is consistent
with its investment objective.
The Wells Fargo Multi-Sector Income Fund is a closed-end income
fund. The fund’s investment objective is to seek a high level of
current income consistent with limiting its overall exposure to
domestic interest-rate risk.
The Wells Fargo Utilities and High Income Fund is a closed-end
equity and high-yield bond fund. The fund’s investment objective is
to seek a high level of current income and moderate capital growth,
with an emphasis on providing tax-advantaged dividend income.
The Wells Fargo Global Dividend Opportunity Fund is a closed-end
fund investing primarily in a diversified portfolio of common
stocks of U.S. and non-U.S. companies. The fund’s primary
investment objective is to seek a high level of current income. The
fund’s secondary objective is long-term growth of capital. The fund
is reducing its quarterly dividend declared today from $0.18 to
$0.135 per share. The revised dividend is intended to provide
greater balance between the fund’s primary objective of income
generation and secondary objective of long-term capital growth.
The final determination of the source (ordinary income and/or
capital gains) of all distributions is subject to change and is
made after year-end. Each fund will send shareholders a Form
1099-DIV for the calendar year that will tell shareholders how to
report these distributions for federal income tax purposes.
These closed-end funds are no longer offered as an initial
public offering, and shares are only offered through broker/dealers
on the secondary market. Unlike an open-end mutual fund, a
closed-end fund offers a fixed number of shares for sale. After the
initial public offering, shares are bought and sold through
broker/dealers in the secondary marketplace, and the market price
of the shares is determined by supply and demand, not by net asset
value (NAV), and is often lower than the NAV. A closed-end fund is
not required to buy its shares back from investors upon
request.
High-yield, lower-rated bonds may contain more risk due to the
increased possibility of default. Foreign investments may contain
more risk due to the inherent risks associated with changing
political climates, foreign market instability, and foreign
currency fluctuations. Risks of international investing are
magnified in emerging or developing markets. Funds that concentrate
their investments in a single industry or sector may face increased
risk of price fluctuation over more diversified funds due to
adverse developments within that industry or sector. Small- and
mid-cap securities may be subject to special risks associated with
narrower product lines and limited financial resources compared
with their large-cap counterparts. When interest rates rise, the
value of debt securities tends to fall. When interest rates
decline, interest that a fund is able to earn on its investments in
debt securities may also decline, but the value of those securities
may increase. Changes in market conditions and government policies
may lead to periods of heightened volatility in the debt securities
market and reduced liquidity for certain fund investments.
Interest-rate changes and their impact on the funds, their NAVs and
the market price of their shares can be sudden and
unpredictable.
The use of leverage results in certain risks, including, among
others, the likelihood of greater volatility of the NAV and the
market price of common shares. Derivatives involve additional
risks, including interest-rate risk, credit risk, the risk of
improper valuation, and the risk of noncorrelation to the relevant
instruments they are designed to hedge or to closely track. There
are numerous risks associated with transactions in options on
securities. Illiquid securities may be subject to wide fluctuations
in market value and may be difficult to sell.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of
Wells Fargo & Company, provides investment advisory and
administrative services for Wells Fargo Funds. Other affiliates of
Wells Fargo & Company provide subadvisory and other services
for the funds. This material was prepared by Wells Fargo Funds
Distributor, LLC, Member FINRA, an affiliate of Wells Fargo
& Company.
Some of the information contained herein may include
forward-looking statements about the expected investment activities
of the funds. These statements provide no assurance as to the
funds’ actual investment activities or results. The reader must
make his/her own assessment of the information contained herein and
consider such other factors as he/she may deem relevant to his/her
individual circumstances.
241110 02-16
NOT FDIC INSURED • NO BANK GUARANTEE • MAY
LOSE VALUE
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Wells Fargo & CompanyShareholder
inquiries1-800-730-6001orFinancial advisor
inquiries1-888-877-9275orMedia contact:John Roehm,
415-222-5338john.o.roehm@wellsfargo.com
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