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First Trust Strategic High Income Fund II Decreases Its Monthly Common Share Distribution To $0.12 Per Share For December

First Trust Strategic High Income Fund II (the "Fund") (NYSE: FHY) has decreased the Fund’s regularly scheduled monthly common share distribution to $0.12 per share from $0.1325 per share. The distribution will be payable on December 10, 2012 to shareholders of record as of December 5, 2012. The ex-dividend date is expected to be December 3, 2012. The monthly distribution information for the Fund appears below.

 

First Trust Strategic High Income Fund II (FHY):

Distribution per share: $0.12
Distribution Rate based on the November 19, 2012 NAV of $16.86: 8.54%
Distribution Rate based on the November 19, 2012 closing market price of $16.84: 8.55%
Decrease from previous distribution of $0.1325:

-9.43%

 

High yield bonds have seen their yields decline as investors have moved $14.7b into high yield mutual funds so far in 2012. Given the market’s demand for yield, issuers have been able to refinance debt, call away higher yielding issues, and replace them with lower yielding paper. This trend has resulted in a marginal reduction in the portfolio’s ability to generate income.

The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source of tax status of all 2012 distributions will be made after the end of 2012.

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