Angel Oak Financial Strategies Income Term Trust Declares June 2024 Distribution

Rhea-AI Summary

Angel Oak Financial Strategies Income Term Trust (FINS), a closed-end fund traded on the NYSE, declared a June 2024 distribution of $0.109 per share. The record date is June 14, 2024, and payment is due on June 28, 2024. FINS aims to distribute net investment income, but portions may come from other sources like capital gains or return of capital. Detailed tax characteristics will be provided on Form 1099-DIV post fiscal year-end. FINS invests mainly in U.S. financial sector debt, with at least 50% of its portfolio rated investment grade. Investors should consider all investment aspects before investing.

Positive

• Declared a June 2024 distribution of $0.109 per share, providing income to shareholders.
• Record date for distribution is June 14, 2024, and payable date is June 28, 2024, offering clear timelines for investors.
• FINS focuses on U.S. financial sector debt, with at least 50% of its portfolio investment grade, suggesting quality investments.
• Angel Oak Capital Advisors, the investment manager, has a value-driven approach with a focus on stable income and price appreciation.

Negative

• A portion of the distribution may come from sources other than net investment income, which could indicate less stable income sources.
• Final determination of distribution sources and tax characteristics depends on year-end investment experience, adding uncertainty for investors.
• Past performance is not indicative of future results, reminding investors of the inherent risks in investment.

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 June 2024. The record date for the distribution is June 14, 2024, and the payable date is June 28, 2024. The Fund will trade ex-distribution on June 14, 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/20240603743492/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 June 2024 distribution amount for Angel Oak Financial Strategies Income Term Trust (FINS)?

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

When is the record date for Angel Oak Financial Strategies Income Term Trust's (FINS) June 2024 distribution?

The record date is June 14, 2024.

When will the June 2024 distribution for Angel Oak Financial Strategies Income Term Trust (FINS) be paid?

The payable date is June 28, 2024.

What does Angel Oak Financial Strategies Income Term Trust (FINS) primarily invest in?

FINS primarily invests in U.S. financial sector debt and selective opportunities in financial sector preferred and common equity.

What percentage of Angel Oak Financial Strategies Income Term Trust's (FINS) portfolio is investment grade?

At least 50% of FINS' portfolio is publicly rated investment grade or judged investment grade by Angel Oak.

How will Angel Oak Financial Strategies Income Term Trust (FINS) report the source and tax characteristics of distributions?

FINS will send investors a Form 1099-DIV for the calendar year, detailing how to report distributions for federal income tax purposes.