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Home>First Trust Enhanced Equity Income Fund Issues Notice Regarding September 2017 Distribution

First Trust Enhanced Equity Income Fund Issues Notice Regarding September 2017 Distribution

First Trust Enhanced Equity Income Fund Issues Notice Regarding September 2017 Distribution

09/30/2017

First Trust Enhanced Equity Income Fund Issues Notice Regarding September 2017 Distribution

The Board of Trustees of First Trust Enhanced Equity Income Fund (the “Fund”) (NYSE: FFA), CUSIP 337318109, previously approved a managed distribution policy for the Fund (the “Managed Distribution Plan”) in reliance on exemptive relief received from the Securities and Exchange Commission which permits the Fund to make periodic distributions of long-term capital gains as frequently as monthly each tax year.

The Fund has declared a distribution payable on September 29, 2017, to shareholders of record as of September 25, 2017, with an ex-dividend date of September 22, 2017. This Notice is meant to provide you information about the sources of your Fund’s distributions. You should not draw any conclusions about the Fund’s investment performance from the amount of its distribution or from the terms of its Managed Distribution Plan.

The following tables set forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year to date for the Fund from the following sources: net investment income (“NII”); net realized short-term capital gains (“STCG”); net realized long-term capital gains (“LTCG”); and return of capital (“ROC”). These estimates are based upon information projected through September 30, 2017, are calculated based on a generally accepted accounting principles (“GAAP”) basis and include the prior fiscal year-end undistributed net investment income. The amounts and sources of distributions are expressed per common share.

                               
5 Yr. Avg.
Annualized Current Annual Total
Fund Fund Fiscal Total Current Current Distribution ($) Current Distribution (%) Dist. Rate as a Return
Ticker Cusip Year End Distribution NII STCG LTCG ROC (2) NII STCG LTCG ROC (2) % of NAV (3) on NAV (4)
FFA 337318109 12/31/2017 $0.2850 - - $0.2850 - - - 100.00% - 7.03% 11.13%
 
 
Total Cumulative Cumulative Fiscal
Fund Fund Fiscal Cumulative Fiscal YTD Cumulative Distributions Fiscal YTD ($) Cumulative Distributions Fiscal YTD (%) Fiscal YTD Distributions as YTD Total Return
Ticker Cusip Year End Distributions (1) NII STCG LTCG ROC (2) NII STCG LTCG ROC (2) a % of NAV (3) on NAV (4)
FFA 337318109 12/31/2017 $0.8200 $0.1489 - $0.2850 $0.3861 18.16% - 34.76% 47.08% 5.06% 10.45%
(1)   Includes the most recent quarterly distribution paid on September 29, 2017.
(2) The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”
(3) Based on Net Asset Value (“NAV”) as of August 31, 2017.
(4) Total Returns are through August 31, 2017.
 

The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. You should not use this Notice as a substitute for your Form 1099-DIV.

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 $109 billion as of August 31, 2017 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Chartwell Investment Partners, LLC. ("Chartwell") serves as the Fund's investment sub-advisor and is an investment firm focusing on institutional, sub-advisory, and private client relationships. The firm is a research-based equity and fixed-income manager with a disciplined, team-oriented investment process. As of August 31, 2017, Chartwell had approximately $8.0 billion in assets under management.

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

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