First Trust Active Dividend Income Fund (the "Fund") (NYSE: FAV) today declared the Fund’s quarterly distribution, payable on April 30, 2009 to shareholders of record as of April 24, 2009. The ex-dividend date is expected to be April 22, 2009. The quarterly distribution information for the Fund appears below.
First Trust Active Dividend Income Fund (FAV): | ||
Distribution per share: | $0.46 | |
Distribution Rate based on the April 8, 2009 NAV of $9.30: | 19.78% | |
Distribution Rate based on the April 8, 2009 closing market price of $9.21: | 19.98% |
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 or return of capital. The final determination of the source and tax status of all 2009 distributions will be made after the end of 2009.
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 provide capital appreciation. The Fund pursues these investment objectives by investing at least 80% of its Managed Assets in a diversified portfolio of dividend-paying multi-cap equity securities of both U.S. and non-U.S. issuers that the Fund’s investment sub-advisor believes offer the potential for attractive income and/or capital appreciation.
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 $16 billion as of March 31, 2009 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.
Aviance Capital Management, LLC, (“Aviance”), the Fund’s investment sub-advisor, focuses on managing multi-cap value and growth portfolios. As of March 31, 2009, Aviance had over $227 million in assets under management or supervision.
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: Investment in this Fund involves investment and market risk; management risk; sub-advisor risk; value investing risk; dividend strategy risk; qualified dividend tax risk; equity securities risk; small and medium cap company risk; non-U.S. securities risk; and emerging markets risk. The risks of investing in the Fund are spelled out in the prospectus, shareholder report 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.
Contacts:
First Trust Active Dividend Income Fund
Press Inquiries: Jane
Doyle, 630-765-8775
Analyst Inquiries: Jeff Margolin, 630-915-6784
Broker
Inquiries: Jeff Margolin, 630-915-6784