CHICAGO--(BUSINESS WIRE)--Fort Dearborn Income Securities, Inc. (the “Fund”) (NYSE:FDI), a closed-end management investment company seeking a stable stream of current income consistent with external interest rate conditions and a total return over time that is above what shareholders could receive by investing individually in the investment grade and long-term maturity sectors of the bond market, today announced its performance for the fiscal second quarter and fiscal year-to-date ended March 31, 2015.
For the fiscal second quarter ended March 31, 2015, the Fund's earnings from net investment income were $1,427,309, equal to $0.16 per share.1 During this period, the Fund paid distributions from net investment income of $1,404,107, equal to $0.160 per share. Total net realized and unrealized gains from investment activities were $1,149,678, equal to $0.13 per share, for the same period.
For the six months ended March 31, 2015, the Fund’s earnings from net investment income were $2,865,775, equal to $0.33 per share.1 During this period, the Fund paid distributions from net investment income of $2,808,213 equal to $0.320 per share, and long-term capital gains distributions of $480,029 equal to $0.055 per share. Total net realized and unrealized losses from investment activities were $(146,177), equal to $(0.02) per share for the same period.
On March 31, 2015, total net assets of the Fund were $139,769,067. The net asset value per share was $15.93, based on 8,775,665 shares outstanding.
1 The current net investment income is derived directly from the accounting records which may be different than net investment income for financial statement reporting purposes included in the Fund's shareholder report. This represents a methodology change from prior earnings releases that utilized adjusted net investment income for financial statement reporting purposes. Therefore, prior reported numbers may not be directly comparable to those noted above and going forward.
Investing in the Fund entails specific risks, such as interest rate, credit and US government securities risks as well as derivatives risk. 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.