First Trust Enhanced Equity Income Fund (the “Fund”) announces its regularly scheduled quarterly distribution payable on 31 December 2008 to shareholders of record as of 23 December 2008.
Distribution per share makes $0.40. Distribution rate based on 9 December 2008 NAV of $11.02 constitutes 14.52%. Distribution rate based on 9 December 2008 closing market price of $8.32 is 19.23%.
The ex-dividend date is expected to be 19 December 2008.
This distribution will consist of net investment income earned by the Fund and return of capital. The final determination of the source and tax status of all distributions paid in 2008 will be made after the end of 2008.
The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income and gains and, to a lesser extent, capital appreciation. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of equity securities.
Chartwell Investment Partners, L.P. serves as the Funds investment sub-advisor and is an employee-owned investment firm focusing on institutional, sub-advisory, and private client relationships. The firm is a research-based equity and fixed-income manager with a disciplined, team-oriented investment process.
First Trust invests principally in equity securities and writes covered call options on a portion of those equity securities; accordingly the Funds NAV will fluctuate with changes in the Funds holdings. By writing call options on the equity securities held, the capital appreciation potential of the Funds equity securities is limited; however, the potential for capital depreciation remains unlimited.