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First Trust Specialty Finance and Financial Opportunities Fund (NYSE: FGB) announced an increase in its quarterly distribution to $0.10 per share, up from $0.0825, effective May 31, 2024. This represents a 21.21% increase. The distribution rate is 8.95% based on the NAV of $4.47 and 10.31% based on the market price of $3.88 as of May 10, 2024. The ex-dividend date is May 22, 2024, and the record date is May 23, 2024. A portion of this distribution may be sourced from capital gains and return of capital. The Fund aims to provide high current income and attractive total returns by investing at least 80% of its managed assets in specialty finance and financial companies. First Trust Advisors manages the Fund, boasting approximately $218 billion in assets as of April 30, 2024. Confluence Investment Management serves as the investment sub-advisor, managing $13 billion in assets as of March 31, 2024.