Royce Focus Trust, Inc. (Nasdaq:FUND) has declared a quarterly
distribution of $0.10 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 27, 2014 to
stockholders of record at the close of business on June 16, 2014
(ex-dividend on June 12, 2014). The price of shares issued for
reinvestment will be determined on June 20, 2014.
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 5% of the rolling average of the prior four calendar
quarter-end net asset values (NAVs), with the fourth quarter
distribution being the greater of 1.25% 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 27,
2014 and for 2014 year-to-date are as follows:
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Estimated Allocations as of May 31, 2014
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Fund
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Distribution
Per Share
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Net Investment
Income
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Net Realized
Short-Term
Gains
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Net Realized
Long-Term
Gains
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Return of Capital
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FUND
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$0.1000
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$0.0172 (17%)
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$0.0128 (13%)
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$0.0700 (70%)
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$0.0000 (0%)
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Estimated Allocations for 2014 through May 31, 2014
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Fund
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Distribution
Per Share
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Net Investment
Income
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Net Realized
Short-Term
Gains
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Net Realized
Long-Term
Gains
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Return of Capital
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FUND
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$0.2000
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$0.0344 (17%)
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$0.0256 (13%)
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$0.1400 (70%)
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$0.0000 (0%)
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You 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.
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Fund Performance and Distribution Rate Information:
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Fund
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Average Annual Total
Return (in relation to
NAV for the 5-year
period ending on
5/31/2014)1
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Annualized Current
Distribution Rate
(expressed as a
percentage of NAV
as of 5/31/2014)2
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Cumulative total return
(in relation to NAV for
the fiscal year through
5/31/2014)3
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Cumulative fiscal year
distributions (as a
percentage of NAV as
of 5/31/2014)4
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FUND
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14.45%
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4.35%
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7.33%
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2.17%
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1
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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 31, 2014. Annual NAV Total Return is the
percentage change in the Fund’s NAV over a year, assuming
reinvestment of distributions paid.
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2
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The annualized Current Distribution Rate is the current fiscal
period’s distribution rate annualized as a percentage of the Fund’s
NAV as of May 31, 2014.
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3
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Cumulative Total Return is the percentage change in the Fund’s NAV
from December 31, 2013 to May 31, 2014, assuming reinvestment of
distributions paid.
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4
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The Cumulative Fiscal Year Distribution Rate is the dollar value of
distributions for the fiscal year period (January 1, 2014 to June
30, 2014), as a percentage of the Fund’s NAV as of May 31, 2014.
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About Royce Focus Trust, Inc.
Royce Focus Trust, Inc. is a closed-end diversified management
investment company whose shares of Common Stock are listed and traded on
the Nasdaq National Market. The Fund's investment goal is long-term
capital growth, which it seeks by normally investing at least 65% of its
assets in equity securities.
For further information on The Royce Fundssm, please visit
our web site at: www.roycefunds.com.
Copyright Business Wire 2014