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First Trust Specialty Finance and Financial Opportunities Fund Increases its Quarterly Distribution to $0.15 Per Share

^{Published on 2010-05-10 13:55:14 - Market Wire}
 

WHEATON, Ill.--([ BUSINESS WIRE ])--First Trust Specialty Finance and Financial Opportunities Fund (the "Fund") (NYSE: FGB) has increased the Funda™s regularly scheduled quarterly distribution to $0.15 per share from $0.145 per share. The distribution will be payable on May 28, 2010 to shareholders of record on May 21, 2010. The ex-dividend date is expected to be May 19, 2010.

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 2010 will be made after the end of 2010.

The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide attractive total return. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a portfolio of securities of specialty finance and other financial companies that the Funda™s investment sub-advisor believes offer attractive opportunities for income and capital appreciation.

First Trust Advisors L.P., the Funda™s investment advisor, along with its affiliate First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management, financial advisory services, and municipal and corporate investment banking, with collective assets under management or supervision of approximately $32 billion as of April 30, 2010 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

Confluence Investment Management LLC (aConfluencea), an SEC registered investment advisor, serves as the Funda™s investment sub-advisor. The investment professionals at Confluence have over 50 years of aggregate portfolio management experience. Confluence provides portfolio management and advisory services to both institutional and individual clients. As of April 30, 2010 Confluence managed or supervised over $800 million in assets.

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: Investment in this Fund involves management risk; sub-advisor risk; value investing risk; income risk; specialty finance and other financial companies risks; common stock risk; preferred stock and trust preferred securities risk; convertible securities risk; fixed-income securities risk; lower grade and distressed securities risk; business development company risk; REIT, mortgage-related and asset-backed securities risks; infrastructure trust risk; income trust and master limited partnership risks; tax risks; non-U.S. securities risk; currency risk; liquidity risk; leverage risk; non-diversification risk; inflation/deflation risk; market discount from net asset value risk; and market disruption risk. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

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