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First Trust Enhanced Equity Income Fund Increases its Quarterly Distribution to $0.225 per Share

^{Published on 2011-03-11 14:15:54 - Market Wire}
 

WHEATON, Ill.--([ BUSINESS WIRE ])--First Trust Enhanced Equity Income Fund (the "Fund") (NYSE: FFA) today increased its regularly scheduled quarterly distribution to $0.225 per share from $0.22 per share. The distribution will be payable on March 31, 2011 to shareholders of record as of March 23, 2011. The ex-dividend date is expected to be March 21, 2011. The quarterly distribution information for the Fund appears below.

This distribution will consist of net investment income earned by the Fund and may also consist of return of capital and/or short-term realized capital gains. The final determination of the source and tax status of all distributions paid in 2011 will be made after the end of 2011.

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income and gains and, to a lesser extent, capital appreciation. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of equity securities.

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 $46 billion as of February 28, 2011, through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

Chartwell Investment Partners, L.P. (aChartwella) serves as the Funda™s investment sub-advisor and is an employee-owned investment firm focusing on institutional, sub-advisory, and private client relationships. The firm is a research-based equity and fixed-income manager with a disciplined, team-oriented investment process. At February 28, 2011, Chartwell had approximately $5.1 billion in assets under management.

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 and writes covered call options on a portion of those equity securities; accordingly the Funda™s NAV will fluctuate with changes in the Funda™s holdings. By writing call options on the equity securities held, the capital appreciation potential of the Funda™s equity securities is limited; however, the potential for capital depreciation remains unlimited. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

The Funda™s daily New York Stock Exchange closing 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.