News Column

Fort Dearborn Income Securities, Inc. – Reports Earnings

May 30, 2014



CHICAGO--(BUSINESS WIRE)-- Fort Dearborn Income Securities, Inc. (the “Fund”) (NYSE:FDI), a closed-end management investment company seeking a stable stream of current income consistent with external interest rate conditions and a total return over time that is above what shareholders could receive by investing individually in the investment grade and long-term maturity sectors of the bond market, today announced its performance for the fiscal second quarter and fiscal year-to-date ended March 31, 2014.

For the fiscal second quarter ended March 31, 2014, the Fund's earnings from net investment income were $1,298,532, equal to $0.15 per share. During this period, the Fund paid distributions from net investment income of $1,316,350, equal to $0.150 per share. Total net realized and unrealized gains from investment activities were $2,148,708, equal to $0.24 per share, for the same period. This compares to earnings from net investment income of $1,329,689, equal to $0.15 per share; distributions paid from net investment income, retained earnings and short-term capital gains of $1,535,741, equal to $0.175 per share; and total net realized and unrealized losses from investment activities of $2,397,256, were equal to $0.27 per share, for the fiscal second quarter ended March 31, 2013.

For the six months ended March 31, 2014, the Fund’s earnings from net investment income were $2,494,493, equal to $0.28 per share. During this period, the Fund paid distributions from net investment income, retained earnings and short-term capital gains of $2,852,091, equal to $0.325 per share and long-term capital gains distributions of $2,764,334, equal to $0.315 per share. Total net realized and unrealized gains from investment activities were $3,706,243, equal to $0.42 per share, for the same period. This compares to earnings from net investment income of $2,737,778, equal to $0.31 per share; distributions paid from net investment income, retained earnings and short-term capital gains of $3,071,483, equal to $0.350 per share, short-term capital gains distributions of $3,387,407, equal to $0.386 per share and long-term capital gains distributions of $3,834,965, equal to $0.437 per share, for the six months ended March 31, 2013. Total net realized and unrealized losses from investment activities were $1,558,262, equal to $0.18 per share, for the six months ended March 31, 2013.

On March 31, 2014, total net assets of the Fund were $140,000,238. The net asset value per share was $15.95, based on 8,775,665 shares outstanding, which represents a decrease of 5.23% from the net asset value per share of $16.83 ($147,676,746 attributable to 8,775,665 shares outstanding) on March 31, 2013.

Investing in the Fund entails specific risks, such as interest rate, credit and US government securities risks as well as derivatives risk. Further detailed information regarding the Fund, including a discussion of investment objectives, principal investment strategies and principal risks, may be found in the fund overview located at http://www.ubs.com/closedendfundsinfo. You may also request copies of the fund overview by calling the Closed-End Funds Desk at 888-793 8637.




UBS Global Asset Management

Closed-End Funds Desk: 888-793 8637

ubs.com

Source: Fort Dearborn Income Securities, Inc.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Business Wire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters