Angel Oak Financial Strategies Income Term Trust Declares January 2024 Distribution

Rhea-AI Summary

Angel Oak Financial Strategies Income Term Trust (FINS) declared a distribution of $0.109 per share for January 2024. The record date is January 17, 2024, and the payable date is January 31, 2024. The Fund will trade ex-distribution on January 16, 2024. It seeks to pay a distribution reflecting net investment income actually earned.

ATLANTA--(BUSINESS WIRE)-- Angel Oak Financial Strategies Income Term Trust (the “Fund”), a closed-end fund traded on the New York Stock Exchange under the symbol FINS, today declared a distribution of $0.109 per share for the month of January 2024. The record date for the distribution is January 17, 2024, and the payable date is January 31, 2024. The Fund will trade ex-distribution on January 16, 2024.

The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned. A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain, or return of capital. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to shareholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Fund’s investment experience during its fiscal year and will be made after the Fund’s year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes.

ABOUT FINS

Led by Angel Oak’s experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS’ portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak.

ABOUT ANGEL OAK CAPITAL ADVISORS, LLC

Angel Oak Capital Advisors is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak Capital Advisors seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.

Information regarding the Fund and Angel Oak Capital Advisors can be found at www.angeloakcapital.com.

Past performance is neither indicative nor a guarantee of future results. Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information please contact your investment representative or Destra Capital Advisors LLC at 877.855.3434.

© 2024 Angel Oak Capital Advisors, which is the investment adviser to the Angel Oak Financial Strategies Income Term Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240102825066/en/

Media:

Trevor Davis, Gregory FCA for Angel Oak Capital Advisors

443-248-0359

trevor@gregoryfca.com

Company:

Randy Chrisman, Chief Marketing & Corporate IR Officer, Angel Oak Capital Advisors

404-953-4969

randy.chrisman@angeloakcapital.com

Source: Angel Oak Financial Strategies Income Term Trust

FAQ

What is the distribution amount declared by Angel Oak Financial Strategies Income Term Trust for January 2024?

The distribution declared is $0.109 per share for January 2024.

When is the record date and payable date for the distribution declared by Angel Oak Financial Strategies Income Term Trust for January 2024?

The record date is January 17, 2024, and the payable date is January 31, 2024.

What does it mean when the Fund trades ex-distribution on January 16, 2024?

It means that anyone who purchases the Fund's stock on or after January 16, 2024, will not receive the upcoming distribution.

What are the possible sources of the distribution paid by Angel Oak Financial Strategies Income Term Trust?

The distribution may be paid from sources such as short-term capital gain, long-term capital gain, or return of capital.

What will investors receive from Angel Oak Financial Strategies Income Term Trust for the calendar year for tax purposes?

Investors will receive a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes.