Company Website:
http://www.ftportfolios.com/
WHEATON, Ill. -- (Business Wire)
First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT)
has decreased its regularly scheduled monthly common share distribution
to $0.06 per share from $0.0635 per share. The distribution will be
payable on February 15, 2018, to shareholders of record as of February
2, 2018. The ex-dividend date is expected to be February 1, 2018. The
monthly distribution information for the Fund appears below.
First Trust Senior Floating Rate Income Fund
II (FCT): |
|
|
|
|
| |
Distribution per share:
| | | | | |
$0.06
|
Distribution Rate based on the January 19, 2018 NAV of $14.10:
| | | | | |
5.11%
|
Distribution Rate based on the January 19, 2018 closing market price
of $12.74:
| | | | | |
5.65%
|
Decrease from previous distribution of $0.0635:
| | | | | |
-5.51%
|
| | | | | |
|
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 and/or return of
capital. The final determination of the source and tax status of all
2018 distributions will be made after the end of 2018 and will be
provided on Form 1099-DIV.
The Fund is a diversified, closed-end management investment company. The
Fund's primary investment objective is to seek a high level of current
income. As a secondary objective, the Fund attempts to preserve capital.
The Fund pursues these investment objectives by investing in senior
secured floating-rate corporate loans.
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 $118 billion as of December
31, 2017 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts.
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: The Senior Loans in which the Fund invests are
generally considered to be "high-yield securities". High yield
securities are subject to greater market fluctuations and risk of loss
than securities with higher ratings. Lower-quality debt tends to be less
liquid than higher-quality debt.
The Fund's portfolio is also subject to credit risk, interest rate risk,
liquidity risk and prepayment risk. Interest rate risk is the risk that
fixed-income securities will decline in value because of changes in
market interest rates. Credit risk is the risk that an issuer of a
security will be unable or unwilling to make dividend, interest and/or
principal payments when due and that the value of a security may decline
as a result. Credit risk may be heightened for the Fund because it
invests in below investment grade securities. Liquidity risk is the risk
that the fund may have difficulty disposing of senior loans if it seeks
to repay debt, pay dividends or expenses, or take advantage of a new
investment opportunity. Prepayment risk is the risk that, upon a
prepayment, the actual outstanding debt on which the Fund derives
interest income will be reduced. The Fund may not be able to reinvest
the proceeds received on terms as favorable as the prepaid loan.
Use of leverage can result in additional risk and cost, and can magnify
the effect of any losses.
The risks of investing in the Fund are spelled out in the shareholder
reports and other regulatory filings.
The information presented is not intended to constitute an investment
recommendation for, or advice to, any specific person. By providing this
information, First Trust is not undertaking to give advice in any
fiduciary capacity within the meaning of ERISA and the Internal Revenue
Code. First Trust has no knowledge of and has not been provided any
information regarding any investor. Financial advisors must determine
whether particular investments are appropriate for their clients. First
Trust believes the financial advisor is a fiduciary, is capable of
evaluating investment risks independently and is responsible for
exercising independent judgment with respect to its retirement plan
clients.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180122006576/en/
Contacts:
First Trust Senior Floating Rate Income Fund II
Press Inquiries:
Jane
Doyle, 630-765-8775
or
Analyst Inquiries:
Jeff Margolin,
630-915-6784
or
Broker Inquiries:
Jeff Margolin,
630-915-6784
Source: First Trust Senior Floating Rate Income Fund II
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