All-American Term Trust Inc. - Dividend Declaration.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 11, 2002 All-American Term Trust Inc. (NYSE NYSE See: New York Stock Exchange : AAT Alpha-1-antitrypsin (AAT) A blood component that breaks down infection-fighting enzymes such as elastase. Mentioned in: Chronic Obstructive Lung Disease ), a closed-end management investment company with an investment objective of providing a high level of current income, consistent with the preservation of capital Preservation of Capital An investment strategy whose primary goal is to prevent the loss of an investment's total value. Notes: For investors using the capital preservation strategy to achieve their goal, they must ensure their portfolio is producing a return that is at , today announced that the Trust's Board of Directors has declared monthly dividends from net investment income of $0.025 per share for the months of November and December 2002. The dividends are payable on November 29 and December 31, 2002, respectively, to shareholders of record as of November 21 and December 24, 2002, respectively. The ex-dividend dates are November 19 and December 20, 2002, respectively. In addition, the Trust's Board of Directors declared on October 14, 2002, a partial liquidating distribution of $0.1100 per share payable on December 29, 2002. The record and ex-dividend dates relating to this distribution will be set and announced in December 2002. The accelerated declarations and the partial liquidating distribution are necessary to meet certain requirements of the Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. applicable to regulated investment companies Regulated investment company An investment company allowed to pass capital gains, dividends, and interest earned on fund investments directly to its shareholders so that it is taxed only at the personal level, and double taxation is avoided. , such as the Trust. Based on the Trust's net asset value of $12.18 per share as of October 31, 2002, the time remaining until the Trust's termination on or about December 31, 2002, and assuming the continuation of current market conditions, UBS Global Asset Management UBS Global Asset Management was the multinational investment unit of UBS AG, a very large multinational financial firm formed in 1998 from the merger of Union Bank of Switzerland and the Swiss Bank Corporation. believes that it is unlikely that the Trust will be able to return the full amount of its $15 initial offering price to shareholders upon its termination. |
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