First Trust Energy Income and Growth Fund (the "Fund") (NYSE
American: FEN) has declared the Fund's regularly scheduled
quarterly distribution of $0.30 per share. The distribution will be
payable on July 31, 2023, to shareholders of record as of July 24,
2023. The ex-dividend date is expected to be July 21, 2023. The
quarterly distribution information for the Fund appears below.
First Trust Energy
Income and Growth Fund (FEN):
Distribution per share:
$0.30
Distribution Rate based on the July 7,
2023 NAV of $15.32:
7.83%
Distribution Rate based on the July 7,
2023 closing market price of $13.56:
8.85%
It is anticipated that, due to the tax treatment of cash
distributions made by the publicly-traded master limited
partnerships ("MLPs") in which the Fund invests, a portion of
distributions the Fund makes to Common Shareholders may consist of
a tax-deferred return of capital. The final determination of the
source and tax status of all distributions paid in 2023 will be
made after the end of 2023 and will be provided on Form
1099-DIV.
The Fund is a non-diversified, closed-end management investment
company that seeks a high level of after-tax total return with an
emphasis on current distributions paid to shareholders. The Fund
focuses on investing in MLPs and related public entities in the
energy sector which the Fund's investment sub-advisor believes
offer opportunities for income and growth. The Fund is treated as a
regular corporation, or a "C" corporation, for United States
federal income tax purposes and, as a result, is subject to
corporate income tax to the extent the Fund recognizes taxable
income.
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 $190 billion as of May
31, 2023 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.
Energy Income Partners, LLC ("EIP") serves as the Fund's
investment sub-advisor and provides advisory services to a number
of investment companies and partnerships for the purpose of
investing in MLPs and other energy infrastructure securities. EIP
is one of the early investment advisors specializing in this area.
As of June 30, 2023, EIP managed or supervised approximately $5.1
billion in client assets.
Principal Risk Factors: Risks are inherent in all investing.
Certain risks applicable to the Fund are identified below, which
includes the risk that you could lose some or all of your
investment in the Fund. The principal risks of investing in the
Fund are spelled out in the Fund's annual shareholder reports. The
order of the below risk factors does not indicate the significance
of any particular risk factor. The Fund also files reports, proxy
statements and other information that is available for
review.
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.
The Fund is subject to risks, including the fact that it is a
non-diversified closed-end management investment company.
Securities held by a fund, as well as shares of a fund itself,
are subject to market fluctuations caused by factors such as
general economic conditions, political events, regulatory or market
developments, changes in interest rates and perceived trends in
securities prices. Shares of a fund could decline in value or
underperform other investments as a result of the risk of loss
associated with these market fluctuations. In addition, local,
regional or global events such as war, acts of terrorism, spread of
infectious diseases or other public health issues, recessions,
natural disasters or other events could have a significant negative
impact on a fund and its investments. Such events may affect
certain geographic regions, countries, sectors and industries more
significantly than others. In February 2022, Russia invaded Ukraine
which has caused and could continue to cause significant market
disruptions and volatility within the markets in Russia, Europe,
and the United States. The hostilities and sanctions resulting from
those hostilities could have a significant impact on certain fund
investments as well as fund performance. The COVID-19 global
pandemic and the ensuing policies enacted by governments and
central banks have caused and may continue to cause significant
volatility and uncertainty in global financial markets. While
vaccines have been developed, there is no guarantee that vaccines
will be effective against future variants of the disease. Recent
and potential future bank failures could result in disruption to
the broader banking industry or markets generally and reduce
confidence in financial institutions and the economy as a whole,
which may also heighten market volatility and reduce liquidity.
Because the Fund is concentrated in securities issued by energy
companies, energy sector MLPs and MLP-related entities, it will be
more susceptible to adverse economic or regulatory occurrences
affecting those industries, including high interest costs, high
leverage costs, the effects of economic slowdown, surplus capacity,
increased competition, uncertainties concerning the availability of
fuel at reasonable prices, the effects of energy conservation
policies and other factors.
The Fund's use of derivatives may result in losses greater than
if they had not been used, may require the fund to sell or purchase
portfolio securities at inopportune times, may limit the amount of
appreciation the Fund can realize on an investment, or may cause
the fund to hold a security that it might otherwise sell.
Investment in non-U.S. securities is subject to the risk of
currency fluctuations and to economic and political risks
associated with such foreign countries.
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 report 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 professionals 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 NYSE American price and net asset value
per share as well as other information can be found at
https://www.ftportfolios.com or by calling 1-800-988-5891.
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Press Inquiries Ryan Issakainen 630-765-8689 Analyst Inquiries
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