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First Trust Dynamic Europe Equity Income Fund Declares its Monthly Common Share Distribution of $0.121 Per Share for October

Nachrichtenquelle: Business Wire (engl.)
19.09.2019, 22:31  |  226   |   |   

First Trust Dynamic Europe Equity Income Fund (the "Fund") (NYSE: FDEU) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.121 per share payable on October 15, 2019, to shareholders of record as of October 2, 2019. The ex-dividend date is expected to be October 1, 2019. The monthly distribution information for the Fund appears below.

First Trust Dynamic Europe Equity Income Fund (FDEU):

Distribution per share:

$0.121

Distribution Rate based on the September 18, 2019 NAV of $15.11:

9.61%

Distribution Rate based on the September 18, 2019 closing market price of $13.81:

10.51%

The Fund's Board of Trustees has approved a managed distribution policy for the Fund (the "Plan") in reliance on exemptive relief received from the Securities and Exchange Commission which permits the Fund to make periodic distributions of long-term capital gains more frequently than otherwise permitted with respect to its common shares subject to certain conditions. Under the Plan, the Fund intends to continue to pay a monthly distribution in the amount of $0.121 per share. A portion of this monthly distribution may include long-term capital gains. This may result in a reduction of the long-term capital gain distribution necessary at year end by distributing long-term capital gains throughout the year. The annual distribution rate is independent of the Fund's performance during any particular period. Accordingly, you should not draw any conclusions about the Fund's investment performance from the amount of any distribution or from the terms of the Plan.

This distribution may consist of net investment income earned by the Fund, net short-term and long-term capital gains and/or tax deferred return of capital. The final determination of the source and tax status of all distributions paid in 2019 will be made after the end of 2019 and will be provided on Form 1099-DIV.

The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to focus on capital appreciation. The Fund will seek to achieve its investment objective by investing at least 80% of its Managed Assets in a portfolio of equity securities of European companies of any market capitalization, including, but not limited to, common and preferred stocks that pay dividends, depositary receipts and real estate investment trusts. The Fund will seek to focus its equity investments on income-producing securities. The Fund will also seek to utilize a dynamic currency hedging process, which will include, at the discretion of the portfolio managers, the use of forward foreign currency exchange contracts to hedge a portion of the Fund's currency exposure. To generate additional income, the Fund will write (or sell) call options on portfolio equity securities and certain broad-based securities indices in an amount up to 40% of the value of its Managed Assets.

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