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A Closed End Fund's most recent distributions are provided on this page, as well as up to two years of historical distributions. The Closed End Fund's most recent shareholder report generally provides more information on distribution types and schedules.
All terms are defined in the Research glossary, which you can access by clicking Help/Glossary. Some terms have a "?"; next to them that can be clicked on for an explanation.
At the top of the page is a recap of the most recent distribution ex- and pay date, its amount; total distribution rate for market price and NAV. You can also see analytic measures such as turnover ratio and potential capital gains exposure to help you determine if capital gain distributions are likely to be declared by the Closed End Fund.
The distribution payment frequency and policy is provided because Closed End Funds (CEFs) must make distributions of substantially all of their income to shareholders to receive favorable tax treatment under the Internal Revenue Code. Distributions from CEFs to shareholders generally come from the following sources:
Some CEFs have managed distribution policies which seek to provide a predictable, but not guaranteed, level of cash flow to shareholders. The distribution policy typically specifies that regular distributions be made (either a fixed payment or payment based on a percentage of a fund's assets, generally made monthly or quarterly).
If a CEF's distribution is not fully covered by investment income and net realized gains, the shortfall will be a return of capital. In this case, shareholders may be receiving their own capital back resulting in a reduction in the fund's capital base (a "destructive" return of capital). Return of capital can come from other sources including, but not limited to, unrealized capital gains ("constructive" return of capital) and pass-through income from Master Limited Partnerships. It is important for investors to not make assumptions or compute yield based, in part, on the fund's distributions without fully understanding the source of the distribution received.
The Distributions Type by Calendar Quarter Ex-Date chart displays the distributions paid over the last eight quarters, including the current quarter. Here you can see if the distribution is a "dividend income", a long-term capital gain, short-term capital gain or return of capital. You can also add the Closed End Funds price history to this chart. Moving the mouse over a particular quarter displays additional information about the distribution paid, including the NAV at the time of the distribution, the date of the distribution, and whether the amount represents short-term or long-term capital gains, dividend income, or return of capital.
Below the chart is a table detailing the last four distributions of the Closed End Fund. Information includes ex- date, NAV at distribution, and amount by distribution type. If more history is available, a link to Additional Distribution History will display up to the last two years worth of distribution information for the Closed End Fund.
Morningstar, Inc. collects and provides Closed End Fund distribution information as reported by the fund sponsor for use on Fidelity.com. Data is updated daily.