2002 Target Term Trust Inc.-- Distribution Declaration and Portfolio Statistics.Business Editors NEW YORK--(BUSINESS WIRE)--July 9, 2001 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 distribution in the amount of $0.055 per share. The dividend is payable on July 31, 2001 to shareholders of record as of July 19, 2001. 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. will be July 17, 2001. 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 June 30, 2001: Portfolio Composition Characteristics ------------------------------------- ------------------------------- Collateralized Mortgage Obligations 29.5% Net Leverage 1.0% Agency CMOs 7.3% Average Credit Quality AAA Non-Agency CMOs 22.2% Convexity -0.70 Adjustable Rate Mortgages 7.3% Weighted Avg Maturity 3.91 yrs Agency ARMs 5.8% Weighted Avg Duration 1.12 yrs Non-Agency ARMs 1.5% Weighted Avg Coupon 6.54% Collateral 50.3% Net Asset Value $14.69 Mortgage-Backed Derivatives 1.2% Market Price $14.45 Agency MBD 0.8% ------------------------------- Non-Agency MBD 0.4% Asset-Backed Securities 3.4% Cash & Cash Equivalents 8.3% ------------------------------------ Total 100.00% Yields+ ----------------------------- Market Yield 4.57% NAV Yield 4.49% IPO Yield 4.40% ----------------------------- +Market yield is calculated by multiplying mul·ti·ply 1 v. mul·ti·plied, mul·ti·ply·ing, mul·ti·plies v.tr. 1. To increase the amount, number, or degree of. 2. Mathematics To perform multiplication on. the current month's distribution by 12 and dividing by the month-end market price. NAV See navigation system and navigation bar. yield is calculated by multiplying the current month's distribution by 12 and dividing by the month-end net asset value. IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. yield is calculated by multiplying the current month's distribution by 12 and dividing by the initial public offering price. Prices and yields will vary. The Fund is actively managed and its portfolio composition will vary over time. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion