First Trust Active Dividend Income Fund (FAV) Lowers Quarterly Dividend 17.9% to $0.23; 8.5% Yield

First Trust Active Dividend Income Fund (NYSE: FAV) declared a quarterly dividend of $0.23 per share, or $0.92 annualized. This is a 17.9% decrease from the prior dividend of $0.28.

The dividend will be payable on July 29, 2011, to stockholders of record on July 25, 2011, with an ex-dividend date of July 21, 2011.

The annual yield on the dividend is 8.5 percent.

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