Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund - MFD STOCK NEWS

The abrdn Global Infrastructure Income Fund (NYSE:ASGI) announced an update on its acquisition of assets from the Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). Key points include:

- MFD shareholders approved the reorganization
- Expected closing date: September 20, 2024
- MFD shares to cease trading on NYSE at market close on September 20, 2024
- MFD shareholders will receive newly issued ASGI shares
- Combined net assets post-reorganization: approximately $596 million
- Benefits: economies of scale, increased viability, enhanced liquidity, and marketability

The reorganization aims to create a larger, more efficient fund by combining assets and is subject to customary closing conditions.

abrdn Global Infrastructure Income Fund (NYSE:ASGI) has announced an update on its acquisition of assets from Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). The reorganization, approved by MFD shareholders, is set to close on September 20, 2024. Key points include:

• MFD shares will cease trading on NYSE at market close on September 20, 2024
• MFD shareholders will receive newly issued ASGI shares
• The combined net assets of ASGI post-reorganization will be approximately $596 million
• The merger aims to achieve economies of scale, increase liquidity, and enhance marketability

This strategic move is expected to benefit shareholders of both funds by creating a larger, more viable combined fund with improved scale and efficiency.

Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD) has declared a quarterly distribution of $0.20 per share, payable on August 30, 2024, to shareholders of record as of August 22, 2024. The ex-dividend date is expected to be August 22, 2024. Based on the August 9, 2024 NAV of $8.86, the distribution rate is 9.03%, while based on the closing market price of $7.86, it's 10.18%.

The Fund seeks a high level of current return and capital preservation by investing in securities of companies involved in infrastructure and utility assets. It's managed by First Trust Advisors L.P. and Delaware Investments Fund Advisers, operating within Macquarie Asset Management. The Fund's Core Component is managed by the Global Listed Infrastructure team, while the Senior Loan Component is managed by Adam Brown.

First Trust Advisors L.P. announced the adjournment of the special meeting of shareholders for Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD). The meeting, originally held on July 25, 2024, will reconvene on August 22, 2024, to allow additional time for shareholders to vote on the proposed reorganization with abrdn Global Infrastructure Income Fund (ASGI).

Shareholders of record as of October 23, 2023, are eligible to vote. The Fund's Board of Trustees recommends voting 'FOR' the reorganization, believing it to be in the best interests of the Fund. First Trust Advisors L.P., the Fund's investment advisor, manages approximately $228 billion in assets as of June 30, 2024.

First Trust Advisors (FTA) announced the adjournment of the special shareholder meeting of Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD) held on July 11, 2024. The meeting was postponed to July 25, 2024, to allow more time for shareholder voting on the fund's reorganization with and into abrdn Global Infrastructure Income Fund (ASGI). Shareholders of record as of October 23, 2023, are entitled to vote. The Board of Trustees recommends voting in favor of the reorganization. The proxy statement is available at the FTA and SEC websites. FTA manages approximately $228 billion in assets as of June 30, 2024.

First Trust Advisors L.P. announced the adjournment of the special meeting of the Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD) shareholders, initially scheduled for June 18, 2024. The meeting will reconvene on July 11, 2024, to allow more time for shareholder voting on the Fund's reorganization with abrdn Global Infrastructure Income Fund (ASGI). Shareholders of record as of October 23, 2023, are entitled to vote. The Fund's Board recommends voting in favor of the reorganization. Important proxy materials are available on FTA's and the SEC's websites.

First Trust Advisors (FTA) announced the adjournment of the special meeting of shareholders of Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD) from May 30, 2024, to June 18, 2024. The delay aims to allow more time for additional shareholder solicitation and voting on the proposed reorganization with abrdn Global Infrastructure Income Fund (ASGI). The meeting will reconvene at FTA’s offices in Wheaton, Illinois. Shareholders of record as of October 23, 2023, are eligible to vote. The Board of Trustees recommends voting in favor of the reorganization. Detailed information is available in the proxy statement on FTA's and SEC's websites. FTA manages $218 billion in assets across various investment products.

The Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE: MFD) has announced a quarterly distribution of $0.20 per share, payable on May 31, 2024, with a record date of May 23, 2024, and an ex-dividend date of May 22, 2024. This distribution represents a yield of 9.02% based on the May 10, 2024 NAV of $8.87 and 10.39% based on the market price of $7.70. A portion of the distribution may come from sources other than net investment income, including gains and return of capital. The fund, managed by First Trust Advisors and sub-advised by Delaware Investments Fund Advisers, focuses on infrastructure and utility assets. As of April 30, 2024, First Trust Advisors manages approximately $218 billion in assets. The fund faces several risks, including market fluctuations, currency risks, and interest rate changes.