CHICAGO--(BUSINESS WIRE)--The Board of Directors for Fort Dearborn Income Securities, Inc. (the “Fund”) (NYSE:FDI) today declared a quarterly dividend from net investment income of $0.15 per share. The dividend is payable on March 31, 2014 to shareholders of record as of March 17, 2014. The ex-dividend date is March 13, 2014. Previously, the Fund had been paying a quarterly dividend of $0.175 per share. The dividend was reduced to more closely reflect the current earnings for the Fund in light of prevailing interest rate conditions. That said, we continue to manage the Fund with a focus on providing a stable stream of current income and, as market conditions warrant, anticipate further utilizing recently expanded investment policies to seek to improve the Fund’s level of earnings.
Fort Dearborn Income Securities, Inc. is a closed-end bond fund managed by UBS Global Asset Management (Americas) Inc. The Fund invests principally in investment grade, long-term, fixed income debt securities. The primary objective of the Fund is to provide its shareholders with:
- A stable stream of current income consistent with external interest rate conditions, and
- A total return over time that is above what they could receive by investing individually in the investment grade and long-term maturity sectors of the bond market.
Investing in the Fund entails specific risks, such as interest rate, credit, US government securities and derivative investments risks. Further detailed information regarding the Fund, including a discussion of investment objectives, principal investment strategies and principal risks, may be found in the fund overview located at http://www.ubs.com/closedendfundsinfo. You may also request copies of the fund overview by calling the Closed-End Funds Desk at 888-793 8637.