First Trust Specialty Finance And Financial Opportunities Fund Increases Quarterly Distribution From $0.0825 To $0.10 Per Share
Portfolio Pulse from Benzinga Newsdesk
First Trust Specialty Finance and Financial Opportunities Fund (FGB) has announced an increase in its quarterly distribution to $0.10 per share from $0.0825, payable on May 31, 2024. This represents a 21.21% increase from the previous distribution, with the distribution rate now at 8.95% based on the NAV of $4.47 and 10.31% based on the closing market price of $3.88 as of May 10, 2024.
May 13, 2024 | 8:24 pm
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POSITIVE IMPACT
FGB's increase in quarterly distribution to $0.10 per share, up from $0.0825, reflects a positive financial outlook and commitment to returning value to shareholders. The distribution rates based on NAV and market price indicate a strong yield, potentially attracting income-focused investors.
The increase in distribution is a positive signal to the market, indicating FGB's strong financial health and ability to generate cash. This could lead to increased demand for FGB shares, especially among income-focused investors, potentially driving up the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
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