World News: 20:20 GMT Monday 20th March 2017. [First Trust Mortgage Income Fund via Businesswire via SPi World News]
First Trust Mortgage Income Fund (the “Fund”) (NYSE: FMY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.065 per share payable on April 17, 2017, to shareholders of record as of April 5, 2017. The ex-dividend date is expected to be April 3, 2017. The monthly distribution information for the Fund appears below.
First Trust Mortgage Income Fund (FMY):
|Distribution per share:||$0.065|
|Distribution Rate based on the March 17, 2017 NAV of $15.47:||5.04%|
|Distribution Rate based on the March 17, 2017 closing market price of $14.07:||5.54%|
A portion of this distribution may come from net investment income, net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2017 will be made after the end of 2017 and will be provided on Form 1099-DIV.
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 preserve capital. The Fund pursues these investment objectives by investing primarily in mortgage-backed securities representing part ownership in a pool of either residential or commercial mortgage loans that, in the opinion of the Fund's portfolio managers, offer an attractive combination of credit quality, yield and maturity.
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 $104 billion as of February 28, 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 debt securities in which the Fund invests are subject to certain risks, including issuer risk, reinvestment risk, prepayment risk, credit risk, and interest rate risk. Issuer risk is the risk that the value of fixed-income securities may decline for a number of reasons which directly relate to the issuer. Reinvestment risk is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured, traded or called bonds at market interest rates that are below the Fund portfolio's current earnings rate. Prepayment risk is the risk that, upon a prepayment, the actual outstanding debt on which the Fund derives interest income will be reduced. 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. Interest rate risk is the risk that fixed-income securities will decline in value because of changes in market interest rates.
A portion of the Fund's managed assets may be invested in subordinated classes of mortgage-backed securities. Such subordinated classes are subject to a greater degree of non-payment risk than are senior classes of the same issuer or agency.
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 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.
Business Wire: 20:20 GMT Monday 20th March 2017
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