| New York, August 15, 2005 -- Fort Dearborn Income Securities, Inc. ("Fund") (FDI), a closed-end management investment company seeking a stable stream of current income consistent with external interest rate conditions and a total return over time that is above what shareholders may receive by investing individually in the investment grade and long-term maturity sectors of the bond market, today announced its performance for the fiscal third quarter ended and fiscal year-to-date June 30, 2005.
For the fiscal third quarter ended June 30, 2005, the Fund's earnings from net investment income were $1,846,754, equal to $0.21 per share. During this period, the Fund paid dividends of $1,755,133, equal to $0.20 per share. Total net realized and unrealized gains from investment transactions were $4,595,182, equal to $0.52 per share, for the same period. This compares to earnings from net investment income of $1,859,623, equal to $0.21 per share; dividends paid of $1,755,133, equal to $0.20 per share; and total net realized and unrealized losses from investment transactions of $(8,598,148), equal to $(0.98) per share, for the fiscal third quarter ended June 30, 2004.
For the nine months ended June 30, 2005, the Fund's earnings from net investment income were $5,377,468, equal to $0.61 per share. During this period, the Fund paid dividends from net investment income of $5,458,464, equal to $0.62 per share and a long-term capital gains distribution of $930,220, equal to $0.11 per share. Total net realized and unrealized gains from investment transactions were $3,050,380, equal to $0.35 per share, for the same period. This compares to earnings from net investment income of $5,426,950, equal to $0.62 per share; dividends paid of $5,265,399, equal to $0.60 per share; and total net realized and unrealized losses from investment transactions of $(5,714,187), equal to $(0.65) per share, for the nine months ended June 30, 2004.
On June 30, 2005, total net assets of the Fund were $146,625,855. The net asset value per share was $16.71, based on 8,775,665 shares outstanding, which represents an increase of 5.56% from the net asset value per share of $15.83 ($138,916,633 attributable to 8,775,665 shares outstanding) on June 30, 2004. |