BancorpSouth Announces Fourth Quarter 2020 and Annual Financial Results
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TUPELO, Miss., Jan. 25, 2021 /PRNewswire/ BancorpSouth Bank (NYSE: BXS) (the Company ) today announced financial results for the quarter and year ended December 31, 2020.
Annual highlights for 2020 included:
Achieved net income available to common shareholders of $218.6 million, or $2.12 per diluted common share, and net operating income available to common shareholders – excluding mortgage servicing rights ( MSR ) – of $237.3 million, or $2.30 per diluted common share.
Recorded provision for credit losses of $86.0 million associated primarily with economic deterioration associated with the COVID-19 pandemic while net charge-offs totaled 0.18 percent of average loans and leases, 0.14 percent of which was related to previously acquired loans; adopted Accounting Standards Update 2016-13 Financial Instruments – Credit Losses ( CECL ) effectiv
7.91%
9.28%
It is anticipated that, due to the tax treatment of cash distributions made by master limited partnerships (“MLPs”) in which the Fund invests, a portion of the distributions the Fund makes to Common Shareholders may consist of a tax-deferred return of capital. The final determination of the source and tax status of all 2021 distributions will be made after the end of 2021 and will be provided on Form 1099-DIV.
The Fund is a non-diversified, closed-end management investment company that seeks a high level of total return with an emphasis on current distributions paid to common shareholders. The Fund will seek to provide its common shareholders with a vehicle to invest in a portfolio of cash-generating securities, with a focus on investing in publicly traded MLPs and MLP-related entities in the energy sector and energy utilities industries that are weighted towards non-cyclical, fee-for-service revenues. Under normal market conditions, the Fund will invest at least 8
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[December 31, 2020]
First Trust Enhanced Equity Income Fund Issues Notice Regarding December 2020 Distribution
The Board of Trustees of First Trust Enhanced Equity Income Fund (the Fund ) (NYSE: FFA), CUSIP 337318109, previously approved a managed distribution policy for the Fund (the Managed Distribution Plan ) in reliance on exemptive relief received from the Securities and Exchange Commission which permits the Fund to make periodic distributions of long-term capital gains more frequently than otherwise permitted with respect to its common shares subject to certain conditions.
The Fund has declared a distribution payable on December 31, 2020, to shareholders of record as of December 23, 2020, with an ex-dividend date of December 22, 2020. This Notice is meant to provide you information about the sources of your Fund s distributions. You should not draw any conclusions about the Fund s investment performance from the amount of its distribution or from the terms of its Managed