Templeton Global Income Fund (“GIM” or the “Fund”) Announces Distribution and Increase to Its Managed Distribution Plan
March 07 2022 - 1:06PM
Business Wire
Templeton Global Income Fund [NYSE: GIM] today announced
a monthly distribution from net investment income of $0.0362 per
share, payable on March 31, 2022, to shareholders of record on
March 17, 2022 (Ex-Dividend Date: March 16, 2022).
The Fund’s Board of Trustees (the “Board”) recently authorized
an increase to GIM’s managed distribution plan pursuant to which
the Fund will make monthly distributions to shareholders at an
annual minimum fixed rate of 8%, an increase from the previously
authorized 7.5%, based on the average monthly net asset value (NAV)
of the Fund’s common shares (the “Plan”). Management believes that
the increased distribution rate will benefit shareholders
consistent with the Fund’s investment goal to seek high, current
income.
The Fund calculates the average NAV from the previous month
based on the number of business days in the month on which the NAV
is calculated. The Plan 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
was invested in the Fund is paid back to shareholders. 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 Board may amend the terms of the Plan or terminate the Plan
at any time without prior notice to the Fund’s shareholders. The
amendment or termination of the Plan could have an adverse effect
on the market price of the Fund’s common shares. The Plan will be
subject to the periodic review by the Board, including a yearly
review of the annual minimum fixed rate to determine if an
adjustment should be made.
Shareholders should not draw any conclusions about the Fund’s
investment performance from the amount of this distribution or from
the terms of the Plan. 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 a Form 1099-DIV to shareholders for the calendar
year that will describe how to report the Fund’s distributions for
federal income tax purposes.
For further information on Templeton Global
Income Fund, please visit our web site at:
www.franklintempleton.com
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization with subsidiaries operating as Franklin
Templeton and serving clients in over 155 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 offers boutique specialization on a global scale,
bringing 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 75 years of investment experience and
over $1.5 trillion in assets under management as of January 31,
2022. For more information, please visit franklintempleton.com.
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