LISLE, Ill.--(BUSINESS WIRE)--First Trust Strategic High Income Fund III (the "Fund") (NYSE: FHO - News) today declared the Fund’s regularly scheduled monthly distribution, payable on September 15, 2008 to shareholders of record as of September 4, 2008. The ex-dividend date is expected to be September 2, 2008. The monthly distribution information for the Fund appears below. First Trust Strategic High Income Fund III (FHO): Distribution per share: $ 0.1584 Distribution Rate based on the August 19, 2008 NAV of $7.45: 25.51% Distribution Rate based on the August 19, 2008 closing market price of $7.13: 26.66%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 its managed assets in a diversified portfolio of below-investment grade and investment grade debt securities and equity securities that the investment sub-advisor believes offer attractive yield and/or capital appreciation potential.
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 $30 billion as of July 31, 2008 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.
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