First Trust Energy Income and Growth Fund Increases its Quarterly Distribution to $0.57 Per Share
09 Juillet 2015 - 10:17PM
Business Wire
First Trust Energy Income and Growth Fund (the “Fund”) (NYSE
MKT: FEN) has increased its regularly scheduled quarterly
distribution to $0.57 per share from $0.56 per share. The
distribution will be payable on July 31, 2015 to shareholders of
record as of July 24, 2015. The ex-dividend date is expected to be
July 22, 2015. The quarterly distribution information for the Fund
appears below.
First Trust Energy
Income and Growth Fund (FEN):
Distribution per share: $0.57 Distribution Rate based
on the July 8, 2015 NAV of $33.11: 6.89% Distribution Rate based on
the July 8, 2015 closing market price of $30.25: 7.54% Increase
from previous distribution of $0.56: 1.79%
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 2015 will be
made after the end of 2015.
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.
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 $118
billion as of June 30, 2015, through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts.
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, 2015, EIP managed or supervised approximately $5.7
billion in client assets.
Past performance is no assurance of future results. Investment
return and principal 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: This closed-end fund invests in a
portfolio consisting primarily of securities issued by MLPs.
Investments in the Fund involves risks of fluctuations in energy
prices, decreases in the supply of or demand for energy
commodities, increased government regulation, national disasters
and various other risks. The use of leverage for investment
purposes increases both investment opportunity and investment risk.
The risks of investing in the Fund are spelled out in the
shareholder report, and other regulatory filings.
The Fund’s daily NYSE MKT closing price and daily net asset
value per share as well as other information are available at
www.ftportfolios.com or by calling 1-800-988-5891.
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version on businesswire.com: http://www.businesswire.com/news/home/20150709006256/en/
First Trust Energy Income and Growth FundPress Inquiries: Jane
Doyle, 630-765-8775Analyst Inquiries: Jeff Margolin,
630-915-6784Broker Inquiries: Jeff Margolin, 630-915-6784
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