First Trust Mortgage Income Fund Declares its Monthly Common Share Distribution of $0.06 Per Share for February
January 21 2020 - 5:01PM
Business Wire
First Trust Mortgage Income Fund (the "Fund") (NYSE: FMY) has
declared the Fund’s regularly scheduled monthly common share
distribution in the amount of $0.06 per share payable on February
18, 2020, to shareholders of record as of February 4, 2020. The
ex-dividend date is expected to be February 3, 2020. The monthly
distribution information for the Fund appears below.
First Trust Mortgage
Income Fund (FMY):
Distribution per share:
$0.06
Distribution Rate based on the January 17,
2020 NAV of $14.83:
4.86%
Distribution Rate based on the January 17,
2020 closing market price of $14.05:
5.12%
A portion of this distribution may come from net investment
income, net short-term realized capital gains or return of capital.
The final determination of the source and tax status of all
distributions paid in 2020 will be made after the end of 2020 and
will be provided on Form 1099-DIV.
The Fund is a diversified, closed-end management investment
company that seeks to provide a high level of current income. As a
secondary objective, the Fund seeks to preserve capital. The Fund
pursues these investment objectives by investing primarily in
mortgage-backed securities representing part ownership in a pool of
either residential or commercial mortgage loans that, in the
opinion of the Fund's portfolio managers, offer an attractive
combination of credit quality, yield and maturity.
First Trust Advisors L.P. ("FTA") is a federally registered
investment advisor and serves as the Fund's investment advisor. FTA
and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA
registered broker-dealer, are privately-held companies that provide
a variety of investment services. FTA has collective assets under
management or supervision of approximately $145 billion as of
December 31, 2019 through unit investment trusts, exchange-traded
funds, closed-end funds, mutual funds and separate managed
accounts. FTA is the supervisor of the First Trust unit investment
trusts, while FTP is the sponsor. FTP is also a distributor of
mutual fund shares and exchange-traded fund creation units. FTA and
FTP are based in Wheaton, Illinois.
Past performance is no assurance of future results. Investment
return and market value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their
original cost. There can be no assurance that the Fund’s investment
objectives will be achieved. The Fund may not be appropriate for
all investors.
Principal Risk Factors: The debt securities in which the Fund
invests are subject to certain risks, including issuer risk,
reinvestment risk, prepayment risk, credit risk, and interest rate
risk. Issuer risk is the risk that the value of fixed-income
securities may decline for a number of reasons which directly
relate to the issuer. Reinvestment risk is the risk that income
from the Fund's portfolio will decline if the Fund invests the
proceeds from matured, traded or called bonds at market interest
rates that are below the Fund portfolio's current earnings rate.
Prepayment risk is the risk that, upon a prepayment, the actual
outstanding debt on which the Fund derives interest income will be
reduced. Credit risk is the risk that an issuer of a security will
be unable or unwilling to make dividend, interest and/or principal
payments when due and that the value of a security may decline as a
result. Interest rate risk is the risk that fixed-income securities
will decline in value because of changes in market interest
rates.
A portion of the Fund's managed assets may be invested in
subordinated classes of mortgage-backed securities. Such
subordinated classes are subject to a greater degree of non-payment
risk than are senior classes of the same issuer or agency.
Use of leverage can result in additional risk and cost, and can
magnify the effect of any losses.
The risks of investing in the Fund are spelled out in the
shareholder reports and other regulatory filings.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA,
the Internal Revenue Code or any other regulatory framework.
Financial advisors are responsible for evaluating investment risks
independently and for exercising independent judgment in
determining whether investments are appropriate for their
clients.
The Fund's daily closing New York Stock Exchange price and net
asset value per share as well as other information can be found at
www.ftportfolios.com or by calling 1-800-988-5891.
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