Increases Monthly Common Share Distribution
First Trust Advisors, LP
Lisle, IL, November 21, 2005--First Trust/Four Corners Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund's regularly scheduled monthly common share distribution for December of $0.111 per share. This is a $0.0035 per share (3.3%) increase from the previous month’s distribution of $0.10 75 per share.
Based on the Fund’s net asset value of $18.97 and New York Stock Exchange closing price of $16.73 on November 18th, respectively, the Fund’s regular distribution equates to an annualized distribution rate of 7.02% at NAV and an annualized distribution rate of 7.96% at market price. The distribution will be payable on December 12, 2005 to shareholders of record December 5, 2005, with an expected ex-dividend date of December 1, 2005.
The majority of this distribution will be paid out of net investment income earned by the Fund. A portion of this distribution may come from net short-term realized capital gains. The final determination of the source and tax
status of all distributions paid in 2005 will be made after the end of 2005.
The Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. As a secondary objective, the Fund will attempt to preserve capital. The Fund pursues these investment objectives by investing in senior secured U.S. dollar-denominated floating-rate corporate loans.
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