First Trust Advisors, LP
Lisle, IL, August 21, 2006 – First Trust Value Line ® Dividend Fund (the “Fund ”)(AMEX:FVD)has declared its regularly scheduled monthly distribution of $0.08786 per share.
Based on the Fund’s net asset value of $17.07 and the American Stock Exchange closing price of $16.48 on August 18, 2006, the Fund’s regular distribution equates to an annualized distribution rate of 6.18% at NAV and 6.40% at market.
The distribution will be payable on September 15, 2006 to shareholders of record on September 6, 2006, with an expected ex-distribution date of September 1, 2006. The final determination of the source and tax status of all distributions paid in 2006 will be made after the end of 2006.
The Fund is a closed-end fund designed to provide total return through a combination of current income and capital appreciation. The Fund seeks to accomplish this objective through a disciplined investment strategy derived from Value Line’s ® Safety ™ Ranking System , which emphasizes its #1 and #2 stocks ranked f or Safety ™.
Fi rst Trust Advisors L.P. acts as the fund’s investment advisor and currently manages or supervises approximately $25 billion in assets.
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