WHEATON, Ill.--(BUSINESS WIRE)--First Trust Dividend and Income Fund (the “Fund”) (NYSE: FAV) today declared its regularly scheduled quarterly distribution payable on October 30, 2015, to shareholders of record as of October 26, 2015. The ex-dividend date is expected to be October 22, 2015. The quarterly distribution information for the Fund appears below.
First Trust Dividend and Income Fund (FAV):
|Distribution per share:||$0.17|
|Distribution Rate based on the October 7, 2015 NAV of $9.28:||7.33%|
|Distribution Rate based on the October 7, 2015 closing market price of $8.22:||8.27%|
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 2015 distributions will be made after the end of 2015.
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, debt securities and senior, secured floating rate loans that offer the potential for attractive income and/or capital appreciation.
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 $106 billion as of September 30, 2015, 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. At September 30, 2015, Chartwell had approximately $7.6 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, common stock risk, option risk; sub-advisor risk, value investing risk, dividend strategy risk, master limited partnership risk, qualified dividend income 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 detailed in the shareholder reports 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.