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Fort Dearborn Income Securities, Inc. - Reports Earnings
UBS Global Asset Management
CHICAGO, Nov 29, 2012 (BUSINESS WIRE) -- Fort Dearborn Income Securities, Inc. (the "Fund") FDI -0.42% , 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 could receive by investing individually in the investment grade and long-term maturity sectors of the bond market, today announced its performance for the fiscal fourth quarter and fiscal year-to-date ended September 30, 2012.
For the fiscal fourth quarter ended September 30, 2012, the Fund's earnings from net investment income were $1,452,836, equal to $0.17 per share. During this period, the Fund paid distributions from net investment income and retained earnings of $1,535,742, equal to $0.175 per share. Total net realized and unrealized gains from investment activities were $5,514,044, equal to $0.63 per share, for the same period. This compares to earnings from net investment income of $1,564,845, equal to $0.18 per share; distributions paid from net investment income and retained earnings of $1,667,377, equal to $0.19 per share; and total net realized and unrealized gains from investment activities of $8,410,935, equal to $0.96 per share, for the fiscal fourth quarter ended September 30, 2011.
For the fiscal year ended September 30, 2012, the Fund's earnings from net investment income were $5,877,453, equal to $0.67 per share. The Fund also has undistributed retained earnings from net investment income of $582,585, equal to $0.07 per share. During this period, the Fund paid distributions from net investment income and retained earnings of $6,274,600, equal to $0.71 per share; short-term capital gains distributions of $2,966,175, equal to $0.34 per share and long-term capital gains distributions of $3,317,201, equal to $0.38 per share. Total net realized and unrealized gains from investment activities were $11,777,055, equal to $1.34 per share, for the same period. This compares to earnings from net investment income of $6,568,558, equal to $0.75 per share and undistributed retained earnings from net investment income of $2,096,061, equal to $0.24 per share; distributions paid from net investment income and retained earnings of $8,091,164, equal to $0.92 per share; short-term capital gains distributions of $3,606,799, equal to $0.41 per share; and long-term capital gains distributions of $149,186, equal to $0.02 per share; and total net realized and unrealized gains from investment activities was $4,731,679, equal to $0.54 per share, for the fiscal year ended September 30, 2011.
On September 30, 2012, total net assets of the Fund were $156,791,085. The net asset value per share was $17.87, based on 8,775,665 shares outstanding, which represents an increase of 3.35% from the net asset value per share of $17.29 ($151,694,553 attributable to 8,775,665 shares outstanding) on September 30, 2011.
SOURCE: Fort Dearborn Income Securities, Inc.
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