Angel Oak Financial Strategies Income Term Trust Declares July 2024 Distribution

Rhea-AI Summary

Angel Oak Financial Strategies Income Term Trust (FINS), a closed-end fund on the NYSE, declared a $0.109/share distribution for July 2024. The record date is July 17, 2024, with a payable date of July 31, 2024. The fund will trade ex-distribution on the same day. Distributions may include net investment income, short-term or long-term capital gains, or return of capital. Shareholders will receive a notice per Section 19(a) of the Investment Company Act if distributions come from sources other than net investment income. Final tax characteristics will be determined post-fiscal year-end and outlined in Form 1099-DIV. Managed by Angel Oak Capital Advisors, FINS invests primarily in U.S. financial sector debt, maintaining at least 50% investment-grade quality. Angel Oak Capital Advisors specializes in mortgage-backed securities and structured credit.

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 July 2024. The record date for the distribution is July 17, 2024, and the payable date is July 31, 2024. The Fund will trade ex-distribution on July 17, 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/20240701629073/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 Capital Advisors, LLC

FAQ

What is the July 2024 distribution amount for Angel Oak Financial Strategies Income Term Trust (FINS)?

The distribution amount for July 2024 is $0.109 per share.

When is the record date for the July 2024 distribution of FINS?

The record date for the July 2024 distribution is July 17, 2024.

What is the payable date for the July 2024 distribution of FINS?

The payable date for the July 2024 distribution is July 31, 2024.

When will FINS trade ex-distribution for the July 2024 distribution?

FINS will trade ex-distribution on July 17, 2024.

What might the sources of the FINS distributions include?

Distributions may include net investment income, short-term or long-term capital gains, or return of capital.

How will shareholders be informed if a portion of the FINS distribution is from sources other than net investment income?

Shareholders will receive a notice as required by Section 19(a) of the Investment Company Act.

When will the final tax characteristics of the FINS distributions be determined?

The final tax characteristics will be determined after the fund's fiscal year-end.

What form will investors receive to report FINS distributions for federal income tax purposes?

Investors will receive a Form 1099-DIV for reporting distributions.