First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.06 Per Share for August
July 19 2018 - 04:34PM
Business Wire
First Trust Senior Floating Rate Income Fund II (the "Fund")
(NYSE: FCT) has declared the Fund’s regularly scheduled monthly
common share distribution in the amount of $0.06 per share payable
on August 15, 2018, to shareholders of record as of August 2, 2018.
The ex-dividend date is expected to be August 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
July 18, 2018 NAV of $14.02: 5.14% Distribution Rate based on the
July 18, 2018 closing market price of $12.77: 5.64%
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. ("FTA") is a federally registered
investment advisor and serves as the Fund's investment advisor. FTA
and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA
registered broker-dealer, are privately-held companies that provide
a variety of investment services. FTA has collective assets under
management or supervision of approximately $126 billion as of June
30, 2018 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts. FTA
is the supervisor of the First Trust unit investment trusts, while
FTP is the sponsor. FTP is also a distributor of mutual fund shares
and exchange-traded fund creation units. FTA and FTP are based in
Wheaton, Illinois.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180719005917/en/
First Trust Senior Floating Rate Income Fund IIPress Inquiries:
Jane Doyle, 630-765-8775Analyst Inquiries: Jeff Margolin,
630-915-6784Broker Inquiries: Jeff Margolin, 630-915-6784
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