TORONTO, June 02, 2020 (GLOBE NEWSWIRE) — Sprott Focus Trust, Inc. (Nasdaq-FUND) (the “Fund” or “FUND”) has declared a quarterly distribution of $0.1093 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 June 26, 2020 to stockholders of record at the close of business on June 15, 2020 (ex-dividend on June 12, 2020). The price of shares issued for reinvestment will be determined on June 19, 2020.
The Fund currently has adopted a Distribution Policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 6% of the rolling average of the prior four calendar quarter-end net asset values (“NAVs”), with the fourth quarter distribution being the greater of 1.50% of the rolling average or the minimum distribution required by IRS regulations. The policy, including the annual rate, is subject to change at the discretion of the Fund’s Board of Directors.The Fund’s estimated sources of the distribution to be paid on June 26, 2020 and for 2020 year-to-date are as follows:Estimated Allocations as of May 29, 2020Estimated Allocations for 2020 through May 29, 2020You should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution or from the terms of the Fund’s Distribution Policy. The amounts and sources of distributions reported herein 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.Fund Performance and Distribution Rate Information:1 Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five year period ended May 29, 2020. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions paid.
Bay Street News
