2002 Target Term Trust declares distribution.NEW YORK--(BUSINESS WIRE)--July 8, 1996--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 Fund's board of directors has declared the Fund's monthly dividend from net investment income of $0.0718 per share. The dividend is payable on July 26, 1996 to shareholders of record as of July 18, 1996. 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 July 16, 1996. As described in the prospectus, the Trust matures in November 2002 and will 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 all of 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. While the portfolio is being managed in an effort to return the initial offering price of $15 per share, this is not guaranteed. -0- Portfolio Composition (6/30/96) (as a % of portfolio assets) CMOs 74.8% Private Adjustable Rate Mortgages 11.2 Agency Mortgage-Backed Securities 11.9 Other 2.1 Weighted Average Maturity 10.2 Years Weighted Average Duration 5.3 Years CONTACT: 2002 Target Term Trust Inc. Linda Buckley, 201/902-5450 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion