First Trust Strategic High Income Fund Decreases its Monthly Common Share Distribution to $0.06 Per Share for July
23 Juni 2009 - 12:12AM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI)
today decreased its regularly scheduled monthly common share
distribution to $0.06 per share from $0.09 per share. The
distribution will be payable on July 15, 2009 to shareholders of
record as of July 6, 2009. The ex-dividend date is expected to be
July 1, 2009. The monthly distribution and cash balance information
for the Fund appears below.
�
First Trust Strategic High Income Fund
(FHI):
Distribution per share:
$0.06
Distribution Rate based on the
June 19, 2009 NAV of $3.04:
23.68%
Distribution Rate based on the
June 19, 2009 closing market price of $4.24:
16.98%
Decrease from previous
distribution of $0.09:
-33.33%
Cash Balance on June 19, 2009:
$777,802 or 2.80% of Net
Assets
�
The decrease is primarily due to
continued credit deterioration and credit impairment of the
underlying income producing portfolio positions.
�
The majority, and possibly all, of
this distribution will consist of return of capital. A portion of
this distribution may come from net investment income. The final
determination of the source and tax status of all distributions
paid in 2009 will be made after the end of 2009.
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 growth. The
Fund pursues these investment objectives by investing at least 80%
of its managed assets in a diversified portfolio of high income
producing securities that the investment sub-advisor believes offer
attractive yield and capital appreciation potential.
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, financial advisory services, and municipal and
corporate investment banking, with collective assets under
management or supervision of over $19 billion as of May 31, 2009
through closed-end funds, unit investment trusts, mutual funds,
separate managed accounts and exchange-traded funds.
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, value investing risk,
below-investment grade securities risk, fixed-income securities
risk, mortgage-backed securities risk, asset-backed securities
risk, convertible securities risk, municipal securities risk,
non-U.S. securities risk, non-U.S. government securities risk,
equity securities risk, currency risk, distressed securities risk,
preferred stock risk, inflation/deflation risk, market discount
risk, leverage risk, derivatives risk, market disruption risk,
portfolio turnover risk, and illiquid/restricted securities risk.
The risks of investing in the Fund are spelled out in the
prospectus, shareholder report 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.
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