Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy for the Months of June, July, and August 2022
May 17 2022 - 8:00AM
Business Wire
Legg Mason Partners Fund Advisor, LLC announced today that
certain closed end funds have declared distributions pursuant to
their managed distribution policy for the months of June, July, and
August 2022.
The following dates apply to the distribution schedule
below:
Month
Record Date
Ex-Dividend Date
Payable Date
June
6/23/2022
6/22/2022
7/1/2022
July
7/22/2022
7/21/2022
8/1/2022
August
8/24/2022
8/23/2022
9/1/2022
Ticker
Fund Name
Month
Amount
Change from Previous
Distribution
SCD
LMP Capital and Income Fund Inc.a
June
$0.26000
b
-
BWG
BrandywineGLOBAL - Global Income
Opportunities
June
$0.09000
-
Fund Inc. a
July
$0.09000
August
$0.09000
EMD
Western Asset Emerging Markets Debt Fund
Inc. a
June
$0.08000
(0.01000)
July
$0.08000
August
$0.08000
a Please see table below for each Fund’s
estimated source of distributions.
b Quarterly paying distribution.
Under the terms of each Fund’s managed distribution policy, each
Fund seeks to maintain a consistent distribution level derived from
the income and capital gains generated from the Fund’s investment
portfolio. Shareholders should note that if the Fund’s aggregate
net investment income and net realized capital gains are less than
the amount of the distributions paid, the difference will be
distributed from the Fund's net assets and may constitute a return
of the shareholder’s capital. The Board of Directors may modify,
terminate or suspend the managed distribution policy at any time.
Any such modification, termination or suspension could have an
adverse effect on the market price of the Fund’s shares.
Each Fund’s distributions have been set based on the current
level of income generated from the Fund’s investment portfolio and
accumulated capital gains, if any. Based on the Funds’ tax
accounting records, which also factor in currency fluctuations,
each Fund’s estimated source of cumulative fiscal year-to-date
distributions is presented in the table below:
Fund
Fiscal Year End
Income
Short-Term Capital
Gains
Long-Term Capital
Gains
Return of Capital
SCD
Nov 30
24.61%
-
-
75.39%
(a)
BWG
Oct 31
56.18%
-
-
43.82%
(b)
EMD
Dec 31
75.22%
-
-
24.78%
(b)
- Sources of cumulative fiscal year-to-date distributions are
estimated through June 30, 2022.
- Sources of cumulative fiscal year-to-date distributions are
estimated through August 31, 2022.
The updated estimated components of the distributions announced
today will be provided to shareholders of record in a separate
notice when the distributions are paid.
This press release is not for tax reporting purposes but is
being provided to announce the amount of each Fund’s distributions
that have been declared by the Board of Directors. In early 2023,
after definitive information is available, each Fund will send
shareholders a Form 1099-DIV, if applicable, specifying how the
distributions paid by each Fund during the prior calendar year
should be characterized for purposes of reporting the distributions
on a shareholder’s tax return (e.g., ordinary income, long-term
capital gain or return of capital).
The Funds’ common shares are traded on the New York Stock
Exchange. Similar to stocks, Fund share prices will fluctuate with
market conditions and, at the time of sale, may be worth more or
less than the original investment. Shares of closed-end funds often
trade at a discount to their net asset value, and can increase an
investor’s risk of loss.
Legg Mason Partners Fund Advisor, LLC is an indirect,
wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin
Resources”).
For more information about the Funds, please call 1-888-777-0102
or consult the Funds’ website at
www.franklintempleton.com/investments/options/closed-end-funds.
Hard copies of the Funds’ complete audited financial statements are
available free of charge upon request.
Data and commentary provided in this press release are for
informational purposes only. Franklin Resources and its affiliates
do not engage in selling shares of the Funds.
Category: Distribution Related
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
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version on businesswire.com: https://www.businesswire.com/news/home/20220517005678/en/
Investor: Fund Investor Services 1-888-777-0102
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