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Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund Decreases Quarterly Distribution to $0.15 Per Shar

^{Published on 2009-02-10 15:12:23, Last Modified on 2009-02-10 15:13:41 - Market Wire}
 

WHEATON, Ill.--([ BUSINESS WIRE ])--Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (the "Fund") (NYSE: MFD) today declared its regular quarterly distribution of $0.15 per share, payable on February 27, 2009 to shareholders of record as of February 20, 2009. The ex-dividend date is expected to be February 18, 2009. This distribution represents a decrease from the previous quarterly distribution of $0.425 per share.

In December 2006 the Board of Trustees of the Fund approved a level distribution policy, which aimed to provide shareholders a relatively stable cash flow consisting of ordinary income, long-term capital gains and to a certain extent return of capital from the Fund's investments in master limited partnerships. At that time the quarterly distribution was increased to $0.425 per share per quarter, or $1.70 per share annually. Over the last two years, the Fund has met or exceeded this distribution level as shown in the following per share distribution breakdowns.

However, due to the dramatic downturn in the global equities markets in the second half of 2008, MFD is decreasing its distribution to bring it in line with the Fund's current net income. The bear market in global equity securities, combined with the severity of the ongoing global credit crisis, has impacted the distribution in four ways:

The decrease will allow the Fund to preserve its capital, so that the Fund may be positioned for the slower growth environment and potentially benefit from the long-term valuation opportunities in global infrastructure securities that have been created in the current market.

A portion of the distribution may be treated as paid from sources other than net investment income, including short-term capital gain, long-term capital gain and return of capital. The final determination of the source and tax status of all distributions paid in 2009 will be made after the end of 2009.

The Fund is a non-diversified, closed-end management investment company, investing predominantly in listed infrastructure and utilities companies in selected developed countries globally. The Fund's investment objective is to seek a high level of current return consisting of dividends, interest and other similar income, while attempting to preserve capital.

Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Principal Risk Factors: The Fund invests principally in equity securities of companies in the infrastructure and utilities industry in various developed markets; accordingly the Fund's NAV will fluctuate with changes in the value of the Fund's holdings. Investment in infrastructure and utilities issuers is subject to various risks including governmental regulations, high interest costs associated with capital construction programs, costs associated with environmental regulation, the effects of economic slowdown and surplus capacity, competition from other providers of services and other factors. Investment in non-U.S. securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.

The Fund's daily New York Stock Exchange closing price and net asset value per share as well as other related information can be found at [ www.ftportfolios.com ] or by calling 1-800-988-5891.