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Fort Dearborn Income Securities, Inc. " Reports Earnings

^{Published on 2008-12-01 14:26:13 - Market Wire}
 

NEW YORK--([ 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 fourth quarter ended and fiscal year-to-date ended September 30, 2008.

For the fiscal fourth quarter ended September 30, 2008, the Fund's earnings from net investment income were $1,876,688, equal to $0.21 per share. During this period, the Fund paid distributions of $1,755,133, equal to $0.20 per share. Total net realized and unrealized loss from investment activities were $(12,561,344) equal to $(1.43) per share, for the same period. This compares to earnings from net investment income of $1,796,170, equal to $0.20 per share; distributions paid of $1,755,133, equal to $0.20 per share; and total net realized and unrealized gains from investment activities of $2,052,343, equal to $0.23 per share, for the fiscal fourth quarter ended September 30, 2007.

For the fiscal year ended September 30, 2008, the Fund's earnings from net investment income were $7,432,083, equal to $0.85 per share. During this period, the Fund paid distributions of $7,020,532, equal to $0.80 per share and long-term capital gains distributions of $831,056, equal to $0.09 per share. Total net realized and unrealized losses from investment activities were $(16,001,155) equal to $(1.83) per share, for the same period. This compares to earnings from net investment income of $7,204,905, equal to $0.82 per share, distributions from net investment income $7,020,532, equal to $0.80 per share and total net realized and unrealized losses from investment activities of $(1,248,052), equal to $(0.14) per share, for the fiscal year ended September 30, 2007.

On September 30, 2008, total net assets of the Fund were $121,177,562. The net asset value per share was $13.81, based on 8,775,665 shares outstanding, which represents a decrease of 11.93% from the net asset value per share of $15.68 ($137,598,222 attributable to 8,775,665 shares outstanding) on September 30, 2007.