First Trust Energy Income and Growth Fund Increases its Quarterly Distribution to $0.535 Per Share

Business Wire

WHEATON, Ill.--(BUSINESS WIRE)--

First Trust Energy Income and Growth Fund (the “Fund”) (NYSE MKT: FEN) has increased its regularly scheduled quarterly distribution to $0.535 per share from $0.53 per share. The distribution will be payable on April 30, 2014, to shareholders of record as of April 24, 2014. The ex-dividend date is expected to be April 22, 2014. The quarterly distribution information for the Fund appears below.

First Trust Energy Income and Growth Fund (FEN):

Distribution per share:   $0.535
Distribution Rate based on the April 9, 2014 NAV of $35.02: 6.11%
Distribution Rate based on the April 9, 2014 closing market price of $33.02: 6.48%
Increase from previous distribution of $0.53: 0.94%
 

It is anticipated that, due to the tax treatment of cash distributions made by the publicly-traded master limited partnerships (“MLPs”) in which the Fund invests, a significant portion of distributions the Fund makes to Common Shareholders may consist of a tax-deferred return of capital. The final determination of the source and tax status of all distributions paid in 2014 will be made after the end of 2014.

The Fund is a non-diversified, closed-end management investment company that seeks a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund focuses on investing in MLPs and related public entities in the energy sector which the Fund’s investment sub-advisor believes offer opportunities for income and growth.

First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $89 billion as of March 31, 2014, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Energy Income Partners, LLC (“EIP”) serves as the Fund’s investment sub-advisor and provides advisory services to a number of investment companies and partnerships for the purpose of investing in MLPs and other energy infrastructure securities. EIP is one of the early investment advisors specializing in this area. As of March 31, 2014, EIP managed or supervised approximately $4.7 billion in client assets.

Past performance is no assurance of future results. Investment return and principal value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Principal Risk Factors: This closed-end fund invests in a portfolio consisting primarily of securities issued by MLPs. Investments in the Fund involves risks of fluctuations in energy prices, decreases in the supply of or demand for energy commodities, increased government regulation, national disasters and various other risks. The use of leverage for investment purposes increases both investment opportunity and investment risk. The risks of investing in the Fund are spelled out in the prospectus, shareholder report, and other regulatory filings.

The Fund’s daily NYSE MKT closing price and daily net asset value per share as well as other information are available at www.ftportfolios.com or by calling 1-800-988-5891.

Contact:
First Trust Energy Income and Growth Fund
Press Inquiries: Jane Doyle, 630-765-8775
Analyst Inquiries: Jeff Margolin, 630-915-6784
Broker Inquiries: Jeff Margolin, 630-915-6784
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