Significant December Distribution Announced by Angel Oak Trust
Angel Oak Financial Strategies Income Term Trust Declares Distribution
Angel Oak Financial Strategies Income Term Trust, a prominent closed-end fund traded on the New York Stock Exchange under the symbol FINS, has made a noteworthy announcement regarding its distribution for December. The Trust declared a distribution payment of $0.109 per share, marking it as a significant highlight for investors. Understanding how these distributions are structured can provide valuable insights for current and potential shareholders.
Distribution Details and Structure
The payment is scheduled with a record date on December 17, 2024, followed by a payable date on December 31, 2024. Investors should also take note of the ex-distribution date, which falls on the same day as the record date. This information is crucial as it lays the groundwork for anyone interested in securing the distribution. Angel Oak aims to ensure that the distribution reflects the actual net investment income accrued over time.
Sources of Distribution
It’s essential for investors to understand that not all distributions are derived from net investment income. A portion may come from various other sources, including short-term capital gains or return of capital. The Fund is diligent in compliance with regulatory requirements, particularly Section 19(a) of the Investment Company Act of 1940, by notifying shareholders if any part of their distribution isn't purely from undistributed net investment income.
Reporting and Tax Considerations
The specifics of how to report these distributions will be provided through a Form 1099-DIV sent out at the end of the covered calendar year. This form is vital for shareholders, ensuring they have the required details for federal income tax purposes. While Angel Oak provides these notifications, it is important to note that they do not offer tax advice. Shareholders are recommended to consult their tax advisors for personalized insights.
About the Fund and Investment Strategy
Operating under the leadership of a seasoned financial services team, FINS concentrates its investments primarily on U.S. financial sector debt, while also exploring selective opportunities in preferred and common equity within that sector. Their approach emphasizes quality, maintaining at least 50% of their portfolio in investment-grade securities, either rated or deemed as such by Angel Oak.
Angel Oak Capital Advisors, LLC
Angel Oak Capital Advisors serves as the managing investment firm behind the Trust, focusing on delivering compelling fixed-income investment solutions to its clients. They have honed a value-driven approach that aims for strong risk-adjusted returns, leveraging a mix of stable income with the potential for price appreciation. Their expertise lies in structured credit and mortgage-backed securities, showcasing a strong command of the investment landscape.
Contact and Further Information
For additional insights regarding Angel Oak Financial Strategies Income Term Trust and more in-depth information about Angel Oak Capital Advisors, investors and interested parties are encouraged to reach out to Destra Capital Advisors at 877.855.3434. Understanding the intricacies of these fund distributions can create confident investors who feel secure in their choices and aware of their investments.
Frequently Asked Questions
What is the distribution amount declared by Angel Oak Trust?
The Angel Oak Financial Strategies Income Term Trust declared a distribution of $0.109 per share for December.
When is the distribution payable?
The payable date for the distribution is set for December 31, 2024.
How is the source of the distribution determined?
The source of the distribution will be determined based on the Fund’s investment experience and will be detailed in the Form 1099-DIV sent to shareholders.
Who manages Angel Oak Financial Strategies Income Term Trust?
Angel Oak Capital Advisors, LLC manages the Trust, focusing on fixed-income investment solutions.
How does Angel Oak ensure quality in its investments?
FINS maintains at least 50% of its portfolio in publicly rated investment grade or deemed investment grade securities to ensure quality investment opportunities.
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