Templeton Emerging Markets Income Fund (“TEI”) Announces Its First Monthly Distribution Pursuant to Previously Announced ...
June 01 2021 - 12:29PM
Business Wire
Templeton Emerging Markets Income Fund [NYSE: TEI] today
announced a monthly distribution from net investment income of
$0.0597 per share, payable on June 30, 2021, to shareholders of
record on June 15, 2021 (Ex-Dividend Date: June 14, 2021).
As recently announced, the Fund’s Board authorized the
implementation of a managed distribution plan pursuant to which the
Fund will make monthly distributions to shareholders at an annual
minimum fixed rate of 8.5%, based on the average monthly net asset
value (NAV) of the Fund’s common shares (the “Plan”). The Plan,
which commences with the Fund’s June distribution, is intended to
provide shareholders with a constant, but not guaranteed, fixed
minimum rate of distribution each month and is intended to narrow
the discount between the market price and the NAV of the Fund’s
common shares, but there can be no assurance that the Plan will be
successful in doing so. The Fund is managed with a goal of
generating as much of the distribution as possible from net
ordinary income and short-term capital gains, that is consistent
with the Fund’s investment strategy and risk profile. To the extent
that sufficient distributable income is not available on a monthly
basis, the Fund will distribute long-term capital gains and/or
return of capital in order to maintain its managed distribution
rate. A return of capital may occur, for example, when some or all
of the money that you invested in the Fund is paid back to you. A
return of capital distribution does not necessarily reflect the
Fund’s investment performance and should not be confused with
“yield” or “income”. Even though the Fund may realize current year
capital gains, such gains may be offset, in whole or in part, by
the Fund’s capital loss carryovers from prior years. The Plan is
subject to periodic review by the Board and may be amended or
terminated at any time.
You should not draw any conclusions about the Fund’s investment
performance from the amount of this distribution or from the terms
of the Fund’s managed distribution policy. The amounts and sources
of the Fund’s distributions to be reported will be estimates and
will not be provided for tax reporting purposes. The actual amounts
and sources of the amounts for tax reporting purposes will depend
upon the Fund’s investment experience during the remainder of its
fiscal year and may be subject to changes based on tax regulations.
The Fund will send you a Form 1099-DIV for the calendar year that
will tell you how to report these distributions for federal income
tax purposes.
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization with subsidiaries operating as Franklin
Templeton and serving clients in over 165 countries. Franklin
Templeton’s mission is to help clients achieve better outcomes
through investment management expertise, wealth management and
technology solutions. Through its specialist investment managers,
the company brings extensive capabilities in equity, fixed income,
multi-asset solutions and alternatives. With offices in more than
30 countries and approximately 1,300 investment professionals, the
California-based company has over 70 years of investment experience
and approximately $1.5 trillion in assets under management as of
April 30, 2021. For more information, please visit
franklintempleton.com.
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For more information, please contact Franklin Templeton at
1-800-342-5236.
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