First Trust Dividend & Income Fund (formerly known as First Trust Active Dividend Income Fund) Declares Quarterly Distributio...
July 11 2013 - 4:17PM
Business Wire
First Trust Dividend and Income Fund (formerly known as First
Trust Active Dividend Income Fund) (the "Fund") (NYSE: FAV) today
declared its regularly scheduled quarterly distribution payable on
July 31, 2013, to shareholders of record as of July 24, 2013. The
ex-dividend date is expected to be July 22, 2013. The quarterly
distribution information for the Fund appears below.
First Trust Dividend
and Income Fund (FAV):
Distribution per share: $0.15 Distribution Rate based on the
July 10, 2013 NAV of $9.40: 6.38%
Distribution Rate based on the July 10,
2013 closing market price of $8.21:
7.31%
The majority, and possibly all, of this distribution will be
paid out of net investment income earned by the Fund. A portion of
this distribution may come from net short-term realized capital
gains or return of capital. The final determination of the source
and tax status of all 2013 distributions will be made after the end
of 2013.
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 provide capital
appreciation. The Fund pursues these investment objectives by
investing at least 80% of its Managed Assets in a diversified
portfolio of dividend-paying multi-cap equity securities of both
U.S. and non-U.S. issuers that the Fund’s investment sub-advisor
believes offer the potential for attractive income and/or capital
appreciation. Additionally, the Fund writes call options on stock
indices and single stocks “at-the-money” or “out-of-the-money” on
up to 50% of the Fund’s portfolio value. Individual call options
are written on stocks held by the Fund.
First Trust Advisors L.P., the Fund’s investment advisor, along
with its affiliate First Trust Portfolios L.P., are privately-held
companies which provide a variety of investment services, including
asset management and financial advisory services, with collective
assets under management or supervision of approximately $70 billion
as of June 30, 2013 through unit investment trusts, exchange-traded
funds, closed-end funds, mutual funds and separate managed
accounts.
Chartwell Investment Partners, L.P. (“Chartwell”) serves as the
Fund’s investment sub-advisor and is an employee-owned investment
firm focusing on institutional, sub-advisory, and private client
relationships. The firm is a research-based equity and fixed-income
manager with a disciplined, team-oriented investment process. At
May 31, 2013, Chartwell had approximately $6.3 billion in assets
under management.
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.
Principal Risk Factors: Investment in this Fund involves
investment and market risk; management risk; sub-advisor risk;
value investing risk; dividend strategy risk; qualified dividend
tax risk; equity securities risk; small and medium cap company
risk; non-U.S. securities risk; and emerging markets risk. By
writing call options on equity securities held, the capital
appreciation potential of the equity securities is limited;
however, the potential for capital depreciation is unlimited. The
risks of investing in the Fund are spelled out in the prospectus,
shareholder report and other regulatory filings.
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.
First Trust Dividend and Income FundPress Inquiries: Jane Doyle,
630-765-8775Analyst Inquiries: Jeff Margolin, 630-915-6784Broker
Inquiries: Jeff Margolin, 630-915-6784
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