Royce Focus Trust, Inc. (Nasdaq - FUND) Declares First Quarter Common Stock Distribution of $0.10 Per Share
NEW YORK--(BUSINESS WIRE)-- Royce Focus Trust, Inc. (Nasdaq - FUND) has declared a quarterly distribution of $0.10 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on March 25, 2013 to stockholders of record at the close of business on March 6, 2013 (ex-dividend on March 4, 2013). The price of shares issued for reinvestment will be determined on March 13, 2013.
The Fund currently has a policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 5% of the rolling average of the prior four calendar quarter-end NAVs, with the fourth quarter distribution being the greater of 1.25% of the rolling average or the minimum distribution required by IRS regulations.
The Fund expects to report a portion of the distribution as long-term capital gains for tax purposes. Long-term capital gains will be allocated pro-rata to all distributions for the year. The final determination of the source of all distributions in 2013, including potentially a return of capital, will be made at the end of the year.
Royce Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq National Market. The Fund's investment goal is long-term capital growth, which it seeks by normally investing at least 65% of its assets in equity securities.
For further information on The Royce Fundssm, please visit our web site at: www.roycefunds.com.
Royce Focus Trust, Inc.
John D. Diederich, 800-348-1414
KEYWORDS: United States North America New York
The article Royce Focus Trust, Inc. (Nasdaq - FUND) Declares First Quarter Common Stock Distribution of $0.10 Per Share originally appeared on Fool.com.
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