First Trust Advisors, LP
Lisle, IL, December 20, 2005--First Trust/Four Corners Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution for January of $0.1148 per share. This is a $0.0038 per share (3.42%) increase from the previous month’s distribution of $0.111 per share. The Fund also declared a short-term capital gains distribution of $0.0170. The final determination of the source and tax status of all distributions paid in 2005 will be made after the end of 2005.
Based on the Fund’s net asset value of $18.96 and New York Stock Exchange closing price of $16.80 on December 19, respectively, the Fund’s regular distribution equates to an annualized distribution rate of 7.27% at NAV and an annualized distribution rate of 8.20% at market price. The distribution will be payable on January 17, 2006 to shareholders of record on December 30, 2005, with an expected ex-dividend date of December 28, 2005.
The Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. As a secondary objective, the Fund will attempt to preserve capital. The Fund pursues these investment objectives by investing in senior secured U.S. dollar-denominated floating-rate corporate loans.
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