Energy Income and Growth Fund (the “Fund”) (NYSE Amex: FEN) today increased its regularly scheduled quarterly distribution to $0.475 per share from $0.47 per share. The distribution will be payable on October 31, 2011 to shareholders of record as of October 25, 2011. The ex-dividend date is expected to be October 21, 2011. The quarterly distribution information for the Fund appears below:
Energy Income and Growth Fund (FEN):
|Distribution per share:||$0.475|
|Distribution Rate based on the October 11, 2011 NAV of $25.93:||7.33%|
|Distribution Rate based on the October 11, 2011 closing market price of $26.31:||7.22%|
|Increase from previous distribution of $0.47:||1.06%|
It is anticipated that, due to the tax treatment of cash distributions made by master limited partnerships (“MLPs”) in which the Fund invests, a significant portion of 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 2011 will be made after the end of 2011.
The Fund is a non-diversified, closed-end management investment company that seeks a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund focuses on investing in publicly-traded master limited partnerships (“MLPs”) and related public entities in the energy sector which the Fund’s investment sub-advisor believes offer opportunities for income and growth.