First Trust Enhanced Equity Income Fund Declares Quarterly Distribution of $0.24 Per Share

WHEATON, Ill.--()--First Trust Enhanced Equity Income Fund (the "Fund") (NYSE: FFA) today declared a long-term capital gain distribution of $0.24 per share payable on September 30, 2016, to shareholders of record as of September 26, 2016. The ex-dividend date is expected to be September 22, 2016. The quarterly distribution information for the Fund appears below.

First Trust Enhanced Equity Income Fund (FFA):

         
Distribution per share: $0.24
Distribution rate based on the September 9, 2016 NAV of $14.90: 6.44%
Distribution rate based on the September 9, 2016 closing market price of $13.58: 7.07%

This distribution will be paid out of long-term realized capital gains as noted above. The final determination of the source and tax status of all distributions paid in 2016 will be made after the end of 2016.

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income and gains and, to a lesser extent, capital appreciation. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of equity securities.

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 $99 billion as of August 31, 2016 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Chartwell Investment Partners, LLC. (“Chartwell”) serves as the Fund’s investment sub-advisor and is an 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. As of August 31, 2016, Chartwell had approximately $10.8 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: Equity securities prices fluctuate for several reasons, including changes in investors’ perceptions of the financial condition of an issuer or the general condition of the relevant stock market, or when political or economic events affecting the issuers or their industries occur.

The Fund may write (sell) covered call options on all or a portion of the equity securities held in the Fund's portfolio. The use of options may require the Fund to sell portfolio securities at inopportune times or for prices other than current market values, may limit the amount of appreciation the Fund can realize on an investment, or may cause the Fund to hold an equity security that it might otherwise sell.

There is no guarantee that the issuers of the equity securities in which the Fund invests will declare dividends in the future or that if declared they will remain at current levels. There can be no assurance as to what portion of the distributions paid to the Fund's Common Shareholders will consist of tax-advantaged qualified dividend income.

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.

The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

The Fund’s daily New York Stock Exchange closing 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.

Contacts

First Trust Enhanced Equity Income Fund
Press Inquiries: Jane Doyle, 630-765-8775
Analyst Inquiries: Jeff Margolin, 630-915-6784
Broker Inquiries: Jeff Margolin, 630-915-6784

Contacts

First Trust Enhanced Equity Income Fund
Press Inquiries: Jane Doyle, 630-765-8775
Analyst Inquiries: Jeff Margolin, 630-915-6784
Broker Inquiries: Jeff Margolin, 630-915-6784