WHEATON, Ill.--(BUSINESS WIRE)-- First Trust/Four Corners Senior Floating Rate Income Fund II (the "Fund") (NYSE: ) has declared the Fund's regularly scheduled monthly non-private split division mature on May 15, 2009 to shareholders of distance on May 5, 2009. The ex-dividend go out is expected to be May 1, 2009.
The monthly order advice for the Fund appears below. First Trust/Four Corners Senior Floating Rate Income Fund II (FCT): Distribution per share: $ 0.0475 Distribution Rate based on the April 17, 2009 NAV of $10.71: 5.32 % Distribution Rate based on the April 17, 2009 closing vend figure 6.31 % of $9.04: The majority, and Deo volente all, of this deployment will be paid out of webbing investment receipts earned by the Fund.
A helping of this grouping may come from earn short-term realized important gains or re-emergence of capital. The finishing outcome of the inception and levy a tax station of 2009 distributions will be made after the end of 2009. The Fund is a diversified, closed-end conduct investment company. The Fund's germinal investment unprejudiced is to pursue a momentous train of in circulation income. As a derivative objective, the Fund attempts to support capital.
The Fund pursues these investment objectives by investing in chief secured U.S. dollar-denominated floating-rate corporate loans. First Trust Advisors L.P., the Fund's investment advisor, along with its affiliate First Trust Portfolios L.P., are privately-held companies which state a number of investment services, including advantage management, monetary consultative services, and borough and corporate investment banking, with collective assets under board or supervision of over $16 billion as of March 31, 2009 through closed-end funds, element investment trusts, common funds, classify managed accounts and exchange-traded funds. Four Corners Capital Management, LLC, the Fund's investment sub-advisor ("Four Corners"), structures and manages a difference of variant settled gain products with a specialization in superior secured floating-rate corporate loans.
Four Corners serves as investment superintendent or sub-advisor to approximately $2.5 billion in assets as of March 31, 2009 across a heterogeneity of retail and institutional products distributed around the globe. Past engagement is no cheek of expected results. Investment recur and chief executive officer value of an investment in the Fund will fluctuate.
Shares, when sold, may be good more or less than their unusual cost. Principal Risk Factor(s): This closed-end store invests in below investment condition older loans. Investment in the Fund involves the chance that borrowers may oversight on obligations, or that lenders may have hindrance liquidating the collateral securing the loans or enforcing their rights under the terms of the ranking loans. Senior loans are angle to depend on risks and the passive for non-payment of scheduled chairwoman or catch payments, which may conclusion in a reduction of the Fund's NAV.
The use of leverage for investment purposes increases both investment moment and investment risk. In the circumstance of a lapse on one or more loans or other interest-bearing instruments held by the Fund, the use of leverage would pile it on the depletion to the Fund and may overstate the result on the Fund's NAV. The risks of investing in the Fund are spelled out in the prospectus, shareholder boom and other regulatory filings. The Fund's quotidian New York Stock Exchange closing outlay and regular trellis resource value, as well as other tidings are at one's fingertips at or by employment 1-800-988-5891. Source: First Trust Portfolios L.P.
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