Wells Fargo Closed-End Funds Declare Monthly Distributions

The Wells Fargo Income Opportunities Fund (NYSE American: EAD), the Wells Fargo Multi-Sector Income Fund (NYSE American: ERC), and the Wells Fargo Utilities and High Income Fund (NYSE American: ERH) have each announced a distribution.

Ticker

Fund name

Distribution per
share

Frequency

Change from
prior distribution

EAD

Wells Fargo Income Opportunities Fund

$0.05748

Monthly

-$0.00064

ERC

Wells Fargo Multi-Sector Income Fund

$0.09551

Monthly

-$0.00113

ERH

Wells Fargo Utilities and High Income Fund

$0.07957

Monthly

-$0.00076

The following dates apply to today’s distribution declaration for each fund:

Declaration date			June 26, 2020
Ex-dividend date			July 13, 2020
Record date			July 14, 2020
Payable date			August 3, 2020

These funds make distributions in accordance with a managed distribution plan that provides for the declaration of monthly distributions to common shareholders of the fund at an annual minimum fixed rate of 8% for the Wells Fargo Income Opportunities Fund, 9% for the Wells Fargo Multi-Sector Income Fund and 7.5% for the Wells Fargo Utilities and High Income Fund based on the fund’s average monthly net asset value (NAV) per share over the prior 12 months. Under the managed distribution plan, distributions are sourced from income and also may be sourced from paid-in capital and/or capital gains. The fund’s distributions in any period may be more or less than the net return earned by the fund on its investments and therefore should not be used as a measure of performance or confused with yield or income. Distributions in excess of fund returns will cause the fund’s NAV to decline. Investors should not draw any conclusions about the fund’s investment performance from the amount of its distribution or from the terms of its managed distribution plan.