First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.0663 per share payable on June 15, 2017, to shareholders of record as of June 5, 2017. The ex-dividend date is expected to be June 1, 2017. The monthly distribution information for the Fund appears below.

First Trust Senior Floating Rate Income Fund II (FCT):

Distribution per share:     $0.0663
Distribution Rate based on the May 19, 2017 NAV of $14.26: 5.58%
Distribution Rate based on the May 19, 2017 closing market price of $13.61: 5.85%
 

The majority, and possibly all, 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 and/or return of capital. The final determination of the source and tax status of all 2017 distributions will be made after the end of 2017 and will be provided on Form 1099-DIV.

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 attempts to preserve capital. The Fund pursues these investment objectives by investing in senior secured floating-rate corporate loans.

First Trust Advisors L.P., the Fund's investment advisor, along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $105 billion as of April 30, 2017 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Principal Risk Factors: The Senior Loans in which the Fund invests are generally considered to be "high-yield securities". High yield securities are subject to greater market fluctuations and risk of loss than securities with higher ratings. Lower-quality debt tends to be less liquid than higher-quality debt.

The Fund's portfolio is also subject to credit risk, interest rate risk, liquidity risk and prepayment risk. Interest rate risk is the risk that fixed-income securities will decline in value because of changes in market interest rates. Credit risk is the risk that an issuer of a security will be unable or unwilling to make dividend, interest and/or principal payments when due and that the value of a security may decline as a result. Credit risk may be heightened for the Fund because it invests in below investment grade securities. Liquidity risk is the risk that the fund may have difficulty disposing of senior loans if it seeks to repay debt, pay dividends or expenses, or take advantage of a new investment opportunity. Prepayment risk is the risk that, upon a prepayment, the actual outstanding debt on which the Fund derives interest income will be reduced. The Fund may not be able to reinvest the proceeds received on terms as favorable as the prepaid loan.

Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.

The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings.

The Fund’s daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at www.ftportfolios.com or by calling 1-800-988-5891.