LISLE, Ill.--(BUSINESS WIRE)--First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI - News) today declared the Fund’s regularly scheduled monthly distribution, payable on July 15, 2008 to shareholders of record as of July 3, 2008. The ex-dividend date is expected to be July 1, 2008. The monthly distribution information for the Fund appears below. First Trust Strategic High Income Fund (FHI): Distribution per share: $0.16 Distribution Rate based on the June 19, 2008 NAV of $9.63: 19.94% Distribution Rate based on the June 19, 2008 closing market price of $11.10: 17.30%The majority, and possibly all, of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2008 will be made after the end of 2008.
The Fund is a 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 capital growth. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a diversified portfolio of high income producing securities that the investment sub-advisor believes offer attractive yield and capital appreciation potential. The Fund employs leverage.
First Trust Advisors L.P., the Fund’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 over $34 billion as of May 31, 2008 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.
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