First Trust Global DividendSeeker Fund
TSX : FDS.UN

First Trust Global DividendSeeker Fund

January 15, 2015 16:13 ET

First Trust Global DividendSeeker Fund Announces Monthly Cash Distribution and Annual Indicative Distribution Amount

TORONTO, ONTARIO--(Marketwired - Jan. 15, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

First Trust Global DividendSeeker Fund (TSX:FDS.UN) (the "Fund") announced today a monthly cash distribution for the month of January for Class A Units and Class F Units (collectively, "Units"). Unitholders of record at the close of business on January 30, 2015 will receive a cash distribution in the amount of $0.045 per Unit, payable on or about February 13, 2015. The $0.045 per Unit distribution represents a decrease of $0.005 per Unit from the previously declared monthly distribution of $0.05 per Unit.

The Fund also announced today that, based upon the prevailing market conditions and an estimate of distributable cash flow from the Fund's portfolio for the upcoming year, the annual indicative distribution amount of the Fund for the 12 months ending January 31, 2016 will be $0.045 per Unit per month ($0.54 per Unit per annum).

Since the Fund's initial public offering in February 2014, the Fund has paid an aggregate distribution amount of $0.9651 per Class A Unit and $1.0364 per Class F Unit, representing a yield of 9.65% and 10.36% on the $10 issue price per Class A Unit and Class F Unit, respectively. This includes a year-end special distribution of $0.515124 per Class A Unit and $0.586478 per Class F Unit that was paid on January 14, 2015 to Unitholders of record on December 31, 2014.

The Fund does not have a fixed distribution policy, but will annually determine and announce in January of each year an indicative distribution amount for the following year based upon the prevailing market conditions and an estimate of distributable cash flow from the Fund's portfolio. The Fund will make formal distribution announcements on a monthly basis. The amount of distributions may fluctuate from month to month and there can be no assurance that the Fund will make any distribution in any particular month or months or that the indicative distribution target will be met.

Further information about First Trust Global DividendSeeker Fund can be found at www.bmocm.com/investorsolutions under "Closed-End Funds".

Contact Information

  • BMO Capital Markets
    1.866.864.7760