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Article: Lehman Brothers First Trust Income Opportunity Fund Provides Additional Information on Recent Declaration of Distributions.
- Article from:
- Business Wire
- Article date:
- January 18, 2006
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NEW YORK -- On January 12, 2006, Lehman Brothers First Trust Income Opportunity Fund (NYSE: LBC) declared monthly distributions for the months of January, February and March. This declaration reflected a reduction in the monthly distribution rate to shareholders from $0.13 to $0.11.
The reduction in the monthly dividend is attributable to several main factors:
--The decline in yields available in the high yield market. In the course of normal portfolio management activity, the yields available on newly purchased securities have been lower than those of securities sold. This has resulted in an overall reduction in the level of income generated by the ...