Energy Income and Growth Fund (the "Fund") (AMEX: FEN) has declared its regularly scheduled quarterly distribution, payable on October 31, 2008 to shareholders of record as of October 22, 2008. The ex-dividend date is expected to be October 20, 2008. The quarterly distribution information for the Fund appears below:
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Energy Income and Growth Fund (FEN): | ||||
Distribution per share: | $ | 0.44 | ||
Distribution Rate based on the October 8, 2008 NAV of $14.78: | 11.91 | % | ||
Distribution Rate based on the October 8, 2008 closing market price of $16.07: | 10.95 | % |
The final determination of the source and tax status of all distributions paid in 2008 will be made after the end of 2008.
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 publicly-traded master limited partnerships ("MLPs") and related public entities in the energy sector which the Fund's investment sub-advisor believes offer opportunities for income and growth.
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, financial advisory services, and municipal and corporate investment banking, with collective assets under management or supervision of over $25 billion as of September 30, 2008 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.
Energy Income Partners, LLC ("EIP") serves as the Fund's investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of August 31, 2008, EIP managed or supervised approximately $630 million in client assets.
Past performance is no assurance of future results. Investment return and principal 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: This closed-end fund invests in a portfolio consisting primarily of securities issued by MLPs. Investment in the Fund involves risks of fluctuations in energy prices, decreases in the supply of or demand for energy commodities, increased government regulation, national disasters and various other risks. The use of leverage for investment purposes increases both investment opportunity and investment risk.
The Fund's daily American Stock Exchange closing price and daily net asset value per share as well as other information are available at www.ftportfolios.com or by calling 1-800-988-5891.