Wells Fargo Closed-End Funds Declare Monthly Dividends
April 29 2016 - 4:04PM
Business Wire
The Wells Fargo Income Opportunities Fund (NYSE MKT: EAD), the
Wells Fargo Multi-Sector Income Fund (NYSE MKT: ERC), and the Wells
Fargo Utilities and High Income Fund (NYSE MKT: ERH) have each
announced a dividend declaration.
Ticker Fund name
Dividend/share Change from
prior dividend
EAD Wells Fargo Income Opportunities Fund
$0.068/share – ERC Wells Fargo Multi-Sector
Income Fund $0.0967/share – ERH Wells Fargo Utilities and High
Income Fund $0.075/share –
The following dates apply to today's dividend declaration for
each fund:
Declaration date April 29, 2016 Ex-dividend
date May 12, 2016 Record date May 16, 2016 Payable date June 1,
2016
The Wells Fargo Income Opportunities Fund is a closed-end
high-yield bond fund. The fund’s investment objective is to seek a
high level of current income. The fund may, as a secondary
objective, seek capital appreciation to the extent it is consistent
with its investment objective.
The Wells Fargo Multi-Sector Income Fund is a closed-end income
fund. The fund’s investment objective is to seek a high level of
current income consistent with limiting its overall exposure to
domestic interest-rate risk.
The Wells Fargo Utilities and High Income Fund is a closed-end
equity and high-yield bond fund. The fund’s investment objective is
to seek a high level of current income and moderate capital growth,
with an emphasis on providing tax-advantaged dividend income.
The final determination of the source of all distributions is
subject to change and is made after year-end. Each fund will send
shareholders a Form 1099-DIV for the calendar year that will tell
shareholders how to report these distributions for federal income
tax purposes.
These closed-end funds are no longer offered as an initial
public offering, and shares are only offered through broker/dealers
on the secondary market. Unlike an open-end mutual fund, a
closed-end fund offers a fixed number of shares for sale. After the
initial public offering, shares are bought and sold through
broker/dealers in the secondary marketplace, and the market price
of the shares is determined by supply and demand, not by net asset
value (NAV), and is often lower than the NAV. A closed-end fund is
not required to buy its shares back from investors upon
request.
High-yield, lower-rated bonds may contain more risk due to the
increased possibility of default. Foreign investments may contain
more risk due to the inherent risks associated with changing
political climates, foreign market instability, and foreign
currency fluctuations. Risks of international investing are
magnified in emerging or developing markets. Funds that concentrate
their investments in a single industry or sector may face increased
risk of price fluctuation over more diversified funds due to
adverse developments within that industry or sector. Small- and
mid-cap securities may be subject to special risks associated with
narrower product lines and limited financial resources compared
with their large-cap counterparts. When interest rates rise, the
value of debt securities tends to fall. When interest rates
decline, interest that a fund is able to earn or its investments in
debt securities may also decline, but the value of those securities
may increase. Changes in market conditions and government policies
may lead to periods of heightened volatility in the debt securities
market and reduced liquidity for certain fund investments.
Interest-rate changes and their impact on the funds and their NAVs
can be sudden and unpredictable.
The use of leverage results in certain risks, including, among
others, the likelihood of greater volatility of the NAV and the
market price of common shares. Derivatives involve additional
risks, including interest-rate risk, credit risk, the risk of
improper valuation, and the risk of noncorrelation to the relevant
instruments they are designed to hedge or to closely track. There
are numerous risks associated with transactions in options on
securities. Illiquid securities may be subject to wide fluctuations
in market value and may be difficult to sell.
Wells Fargo Funds Management, LLC, a wholly owned subsidiary of
Wells Fargo & Company, provides investment advisory and
administrative services for Wells Fargo Funds. Other affiliates of
Wells Fargo & Company provide subadvisory and other services
for the funds. This material is being prepared by Wells Fargo
Funds Distributor, LLC, Member FINRA, an affiliate of Wells
Fargo & Company.
Some of the information contained herein may include
forward-looking statements about the expected investment activities
of the funds. These statements provide no assurance as to the
funds’ actual investment activities or results. The reader must
make his/her own assessment of the information contained herein and
consider such other factors as he/she may deem relevant to his/her
individual circumstances.
242834 04-16
NOT FDIC INSURED • NO BANK GUARANTEE • MAY
LOSE VALUE
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Wells Fargo & CompanyShareholder
inquiries1-800-730-6001orFinancial advisor
inquiries1-888-877-9275orMedia contact:John Roehm,
415-222-5338john.o.roehm@wellsfargo.com
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