First Trust Energy Income and Growth Fund Declares its Quarterly Distribution of $0.30 Per Share
The First Trust Energy Income and Growth Fund (FEN) has announced a quarterly distribution of $0.30 per share, payable on July 29, 2022. Shareholders of record by July 25, 2022 will receive this distribution, with an ex-dividend date of July 22, 2022. This distribution represents a rate of 8.21% based on the $14.61 NAV and 7.67% based on the market price of $15.64. The Fund focuses on investments in MLPs within the energy sector. Tax treatment of distributions may include tax-deferred return of capital.
- Quarterly distribution of $0.30 per share enhances yield for investors.
- Distribution rate of 8.21% based on NAV indicates strong income potential.
- The Fund is non-diversified, potentially increasing investment risk.
- Investment in MLPs exposes the Fund to energy sector volatility and uncertainties.
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It is anticipated that, due to the tax treatment of cash distributions made by the publicly-traded master limited partnerships ("MLPs") in which the Fund invests, a portion of distributions the Fund makes to Common Shareholders may consist of a tax-deferred return of capital. The final determination of the source and tax status of all distributions paid in 2022 will be made after the end of 2022 and will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment company that seeks a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund focuses on investing in MLPs and related public entities in the energy sector which the Fund's investment sub-advisor believes offer opportunities for income and growth. The Fund is treated as a regular corporation, or a "C" corporation, for
Principal Risk Factors: Risks are inherent in all investing. Certain risks applicable to the fund are identified below. The principal risks of investing in the fund are spelled out in the fund's shareholder reports. The order of the below risk factors does not indicate the significance of any particular risk factor.
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. There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
The Fund is subject to risks, including the fact that it is a non-diversified closed-end management investment company.
Securities held by a fund, as well as shares of a fund itself, are subject to market fluctuations caused by factors such as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result of the risk of loss associated with these market fluctuations. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on a fund and its investments. Such events may affect certain geographic regions, countries, sectors and industries more significantly than others. In
Because the Fund is concentrated in securities issued by energy companies, energy sector MLPs and MLP-related entities, it will be more susceptible to adverse economic or regulatory occurrences affecting those industries, including high interest costs, high leverage costs, the effects of economic slowdown, surplus capacity, increased competition, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors.
The Fund's use of derivatives may result in losses greater than if they had not been used, may require the fund to sell or purchase portfolio securities at inopportune times, may limit the amount of appreciation the Fund can realize on an investment, or may cause the fund to hold a security that it might otherwise sell.
Investment in non-
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 report 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,
The Fund’s daily closing NYSE American price and net asset value per share as well as other information can be found at https://www.ftportfolios.com or by calling 1-800-988-5891.
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FAQ
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