Diamond Hill Financial Trends Fund, Inc. Announces Distribution
August 20 2008 - 4:15PM
PR Newswire (US)
COLUMBUS, Ohio, Aug. 20 /PRNewswire-FirstCall/ -- Diamond Hill
Financial Trends Fund, Inc. (NASDAQ:DHFT) announced today that the
fund will pay an income dividend and capital gain distributions as
follows: Declaration Date: August 20, 2008 Ex-Dividend Date: August
28, 2008 Record Date: August 30, 2008 Payable Date: September 6,
2008 Source of Distribution: Per Share Dividend Income: $0.00350
Short-Term Capital Gain: $0.06666 Long-Term Capital Gain: $0.25516
Total Distribution: $0.32181 Mr. Frank Golden, the Fund's chairman,
stated, "The Board of Directors has been pleased with the
commitment of Diamond Hill Capital Management, Inc., the Fund's
advisor, and although the financial sector has seen turmoil in
recent months, we believe that the Advisor's long-term approach
positions the Fund well for any recovery in the financial sector."
Mr. Golden also stated, "as a result of the market down-turn, the
Fund's unrealized gains virtually have been eliminated, which may
have the effect of reducing the potential tax liability to
shareholders." Mr. Christopher Bingaman, CFA, the Fund's portfolio
manager, stated, "The current market conditions have provided many
buying opportunities of companies that we believe are trading below
our estimate of their intrinsic value. We remain optimistic
regarding the long-term investment outlook for financial stocks."
About the Fund: Diamond Hill Financial Trends Fund, Inc. is a
diversified, closed-end fund. The Fund seeks long-term capital
appreciation with current income as a secondary objective by
investing at least 80% of its assets in stocks of U.S. financial
services companies of any size. About Diamond Hill: Diamond Hill
provides investment management services to institutions and
financial intermediaries seeking to preserve and build capital. The
firm currently manages mutual funds, separate accounts and private
investment funds. For more information on Diamond Hill, visit
http://www.diamond-hill.com/. DATASOURCE: Diamond Hill Financial
Trends Fund, Inc. CONTACT: Investors, James F. Laird, President of
Diamond Hill Financial Trends Fund, Inc., +1-614-255-3353, Web
site: http://www.diamond-hill.com/
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