Sprott Focus Trust, Inc. (NASDAQ: FUND) Increases Common Stock Distribution
TORONTO, ON–(Marketwired – December 11, 2017) – Sprott Focus Trust, Inc. (NASDAQ :FUND) (the “Fund” or “FUND”) announced today that the Fund’s Board of Directors has approved an increase in the Fund’s distribution from an annual rate of 5% to an annual rate of 6%.
Effective for all distribution periods after the distribution period ending December 31, 2017, distributions will be made at the annual rate of 6% of the rolling average of the prior four calendar quarter-end net asset values (“NAVs”), with the 2018 first quarter distribution being the greater of 1.50% of the rolling average or the minimum distribution required by IRS regulations. The first distribution payment reflecting the new distribution rate will be payable on March 29, 2018 to stockholders of record at the close of business on March 15, 2018 (ex-dividend on March 14, 2018). The price of shares issued for reinvestment will be determined on March 22, 2017. The distribution policy, including the annual rate, is subject to change at the discretion of the Fund’s Board of Directors.
About Sprott Focus Trust, Inc.
Sprott Focus Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the Nasdaq Global Select 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 Fund, please visit our web site at: www.sprottfocustrust.com. An investor should consider investment objectives, risks, charges and expenses carefully before investing. The Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. The Fund trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker.
Royal Bank Plaza | 200 Bay Street | Toronto, Ontario | Canada M5J 2J1 | (416) 943-8099 | www.sprott.com