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Banking industry

Nations Government Income Term Trust 2003 Declares Dividend

Strategic Insights

— 1 min read

The board of directors of Nations Government Income Term Trust 2003, Inc. has declared a dividend of $0.0514 per share, representing earnings for the month of July 1995. The dividend is payable to shareholders of record on July 14, 1995, and will be distributed on July 28, 1995. This announcement marks the latest development in the Trust's efforts to provide investors with a high level of current income while preserving capital and seeking to return $10 per share to investors on or about September 30, 2003.

Key Takeaways:

  • The board of directors of Nations Government Income Term Trust 2003, Inc. has declared a dividend of $0.0514 per share for the month of July 1995.
  • The dividend is payable on July 28, 1995, to shareholders of record on July 14, 1995.
  • The annualized yield for the month ending June 30, 1995, is 6.17%, based on the Trust's initial offering price of $10.
  • The current yield based on the NYSE closing price of $7.50 on June 30, 1995, is 8.22%.
  • Nations Government Income Term Trust 2003, Inc. is a diversified, closed-end management investment company.
  • The Trust's investment objective is to pay a high level of current income consistent with investing in securities of high credit quality and seek to return $10 per share to investors on or about September 30, 2003.
  • The Trust's investment adviser is NationsBank of North Carolina based in Charlotte, N.C.
  • The Trust seeks to achieve its objectives by investing in high-quality fixed income securities, such as those issued or guaranteed by the U.S. Government or its agencies.

Statistics:

  • Declared dividend: $0.0514 per share
  • Annualized yield: 6.17% (based on the Trust's initial offering price of $10)
  • Current yield: 8.22% (based on the NYSE closing price of $7.50 on June 30, 1995)
  • Initial public offering price: $10 per share
  • NYSE closing price: $7.50 on June 30, 1995
  • Investment objective: Pay a high level of current income consistent with investing in securities of high credit quality and seek to return $10 per share to investors on or about September 30, 2003
  • Return date: September 30, 2003

Sources:

  • Business Wire, "Nations Government Income Term Trust 2003, Inc. Announces Dividend," July 3, 1995.

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