First Trust MLP and Energy Income Fund Declares its Monthly Common Share Distribution of $0.1183 Per Share for June
May 21 2018 - 3:40PM
Business Wire
First Trust MLP and Energy Income Fund (the "Fund") (NYSE: FEI)
has declared the Fund’s regularly scheduled monthly common share
distribution in the amount of $0.1183 per share payable on June 15,
2018, to shareholders of record as of June 4, 2018. The ex-dividend
date is expected to be June 1, 2018. The monthly distribution
information for the Fund appears below.
First Trust MLP and
Energy Income Fund (FEI):
Distribution per share: $0.1183
Distribution Rate based on the May 18, 2018 NAV of $12.93: 10.98%
Distribution Rate based on the May 18, 2018 closing market price of
$13.16: 10.79%
It is anticipated that, due to the tax treatment of cash
distributions made by master limited partnerships ("MLPs") in which
the Fund invests, a portion of the distributions the Fund makes to
Common Shareholders may consist of a tax-deferred return of
capital. The final determination of the source and tax status of
all distributions paid in 2018 will be made after the end of 2018
and will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment
company that seeks to provide a high level of total return with an
emphasis on current distributions paid to common shareholders. The
Fund seeks to provide its common shareholders with a vehicle to
invest in a portfolio of cash-generating securities, with a focus
on investing in publicly-traded MLPs and MLP-related entities in
the energy sector and energy utilities industries. Under normal
market conditions, the Fund invests at least 85% of its managed
assets in equity and debt securities of MLPs, MLP-related entities
and other energy sector and energy utilities companies. To generate
additional income, the Fund expects to write (or sell) covered call
options on up to 35% of its managed assets. The Fund is treated as
a regular corporation, or a "C" corporation, for United States
federal income tax purposes and, as a result, is subject to
corporate income tax to the extent the Fund recognizes taxable
income.
First Trust Advisors L.P. ("FTA"), a federally registered
investment advisor, and its affiliate First Trust Portfolios L.P.
("FTP"), a FINRA registered broker-dealer, are privately held
companies that provide a variety of investment services. FTA is the
investment advisor to exchange-traded funds, closed-end funds,
mutual funds, separate managed accounts and provides supervisory
services to FTP sponsored unit investment trusts. FTA's assets
under management were approximately $122 billion as of April 30,
2018. This includes the supervisory services FTA provides to FTP
sponsored unit investment trusts, which are unmanaged. FTP is a
sponsor of unit investment trusts and distributor of mutual fund
shares and exchange-traded fund creation units. FTA and FTP are
based in Wheaton, Illinois.
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 April 30, 2018, EIP managed or supervised approximately $6.0
billion in client assets.
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 risks of investing in the Fund are
spelled out in the shareholder reports and other regulatory
filings.
The Fund is subject to risks, including the fact that it is a
non-diversified closed-end management investment company.
Because the Fund is concentrated in securities issued by MLPs,
MLP-related entities, and other energy and utilities companies, it
will be more susceptible to adverse economic or regulatory
occurrences affecting those industries, including high interest
costs, high leverage costs, the effects of economic slowdown,
surplus capacity, increased competition, uncertainties concerning
the availability of fuel at reasonable prices, the effects of
energy conservation policies and other factors.
The Fund invests in securities of non-U.S. issuers which are
subject to higher volatility than securities of U.S. issuers.
Because the Fund invests in non-U.S. securities, you may lose money
if the local currency of a non-U.S. market depreciates against the
U.S. dollar.
Use of leverage can result in additional risk and cost, and can
magnify the effect of any losses.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA
and the Internal Revenue Code. First Trust has no knowledge of and
has not been provided any information regarding any investor.
Financial advisors must determine whether particular investments
are appropriate for their clients. First Trust believes the
financial advisor is a fiduciary, is capable of evaluating
investment risks independently and is responsible for exercising
independent judgment with respect to its retirement plan
clients.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180521006051/en/
First Trust MLP and Energy Income FundPress Inquiries:Jane
Doyle, 630-765-8775orAnalyst Inquiries:Jeff Margolin,
630-915-6784orBroker Inquiries:Jeff Margolin, 630-915-6784
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