First Trust Mortgage Decreases June Distribution

As the mortgage market continues to suffer at the hands of an artificially low interest rate environment created by the Federal Reserve through its quantitative easing policies, diversified, closed-end management investment company First Trust Mortgage Income Fund (NYSE: FMY  ) announced this week that it is cutting its monthly distribution 15% beginning with the June payout. 

The dividend, which is being reduced from $0.10 per share to $0.085 per share, will be payable on June 17 to the holders of record at the close of business on June 5. The fund invests primarily in mortgage-backed securities. The company's press release says: "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."

Brookfield Investment Management serves as the sub-advisor to First Trust Mortgage. Brookfield is a wholly owned subsidiary of Brookfield Asset Management, a global alternative asset manager with approximately $185 billion in assets under management as of March 31.


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2444866, ~/Articles/ArticleHandler.aspx, 9/27/2016 3:33:05 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,217.58 122.75 0.68%
S&P 500 2,157.92 11.82 0.55%
NASD 5,301.26 43.77 0.83%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 2:07 PM
FMY $14.38 Down -0.01 -0.07%
First Trust Mortga… CAPS Rating: No stars
BAM $35.18 Up +0.38 +1.09%
Brookfield Asset M… CAPS Rating: ****