2002 Target Term Trust Inc. -- Distribution Declaration.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 11, 2000 2002 Target Term Trust Inc. (NYSE NYSE See: New York Stock Exchange : TTR TTR Transthyretin TTR Ticket To Ride (World Snowboard Tour) TTR Transformer Turns Ratio (electric power transmission and distribution) TTR Time To Repair TTR Time to Read ), a closed-end management investment company investing in high quality fixed-income and adjustable-rate securities, today announced that the Trust's Board of Directors has declared a monthly dividend of $0.0718 per share. The dividend is payable on January 31, 2000 to shareholders of record as of January 26, 2000. The ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. is January 21, 2000. As described in the prospectus, the Trust will seek to liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the its assets and distribute the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to shareholders on or about November 30, 2002. While the portfolio is being managed in an effort to return the initial offering price of $15.00 per share, this is not guaranteed.
Portfolio Statistics (% of total portfolio assets) as of December
31, 1999:
Portfolio Composition
Collateralized Mortgage Obligations 56.2
Agency CMOs 7.8
Non-Agency CMOs 48.4
Adjustable Rate Mortgages 9.0
Agency ARMs 7.0
Non-Agency ARMs 2.0
Collateral 25.0
Mortgage Backed Derivatives 3.0
Agency MBD 1.5
Non-Agency MBD 1.5
ABS 6.8
Total 100.0
Portfolio Characteristics Weighted Average Duration 2.51 yrs Average Credit Quality AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. |
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