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First Trust Specialty Finance (FGB) provides investors with focused exposure to specialty finance sectors through its closed-end fund structure. This news hub offers essential updates for monitoring the company's financial position and strategic direction.
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First Trust Advisors L.P. announced the adjournment of the special meeting of shareholders for First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB). The meeting, originally held on July 25, 2024, will reconvene on August 22, 2024 to allow additional time for shareholders to vote on the proposed reorganization of FGB with and into abrdn Total Dynamic Dividend Fund (AOD).
Shareholders of record as of October 23, 2023, are eligible to vote. The Fund's Board of Trustees recommends voting 'FOR' the reorganization, believing it to be in the best interests of the Fund. Shareholders can vote using methods described in the previously mailed proxy materials. For questions or voting assistance, shareholders can contact EQ Fund Solutions, at (866) 796-7172.
First Trust Advisors L.P. (FTA) announced the adjournment of a special meeting of shareholders for the First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB). The meeting, originally held on July 11, 2024, has been rescheduled to July 25, 2024, at 1:00 PM Central time to allow additional time for shareholder voting regarding the proposed reorganization of the Fund with and into the abrdn Total Dynamic Dividend Fund (AOD).
The Board of Trustees recommends voting 'FOR' the reorganization, which they believe is in the best interest of the Fund. Shareholders of record as of October 23, 2023, are entitled to vote. Voting options are detailed in previously mailed proxy materials, also available online. FTA manages approximately $228 billion in assets as of June 30, 2024.
First Trust Advisors announced the adjournment of the special meeting for shareholders of First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) initially held on June 18, 2024. The meeting has been rescheduled to July 11, 2024, to allow additional time for shareholder voting on the proposed reorganization with abrdn Total Dynamic Dividend Fund (AOD). Shareholders of record as of October 23, 2023, are eligible to vote. The board recommends voting in favor of the reorganization, which they believe is in the best interest of the Fund. Shareholders are encouraged to read the detailed proxy statement available online. For assistance, they can contact EQ Fund Solutions at (866) 796-7172.
First Trust Advisors (FTA) announced the adjournment of a special shareholder meeting for First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) held on May 30, 2024. The meeting will reconvene on June 18, 2024, to allow more time for shareholder voting on the proposed reorganization with abrdn Total Dynamic Dividend Fund (AOD). Shareholders of record as of October 23, 2023, are eligible to vote. The proxy materials, containing critical information on the reorganization, are available online. The FGB Board recommends voting in favor of the reorganization, which they believe is in the best interest of the Fund. FTA and its affiliate First Trust Portfolios L.P. manage around $218 billion in assets.
First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) announced an increase in its quarterly distribution to $0.10 per share, up from $0.0825, effective May 31, 2024. This represents a 21.21% increase. The distribution rate is 8.95% based on the NAV of $4.47 and 10.31% based on the market price of $3.88 as of May 10, 2024. The ex-dividend date is May 22, 2024, and the record date is May 23, 2024. A portion of this distribution may be sourced from capital gains and return of capital. The Fund aims to provide high current income and attractive total returns by investing at least 80% of its managed assets in specialty finance and financial companies. First Trust Advisors manages the Fund, boasting approximately $218 billion in assets as of April 30, 2024. Confluence Investment Management serves as the investment sub-advisor, managing $13 billion in assets as of March 31, 2024.
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