Franklin Limited Duration Income Trust Declares Monthly Distribution
20 Settembre 2021 - 6:15PM
Business Wire
Franklin Limited Duration Income Trust [NYSE American: FTF], a
closed-end investment company managed by Franklin Advisers, Inc.,
announced today a distribution of $0.0770 per common share, payable
October 15, 2021, to shareholders of record on September 30, 2021
(Ex-Dividend Date: September 29, 2021).
The Fund adopted a managed distribution plan and will make
monthly distributions to common shareholders at an annual minimum
fixed rate of 10 percent, based on the average monthly net asset
value (NAV) of the Fund’s common shares. The Fund will calculate
the average NAV from the previous month based on the number of
business days in that month on which the NAV is calculated. The
distribution will be calculated as 10 percent of the previous
month’s average NAV, divided by 12. Management will generally
distribute amounts necessary to satisfy the Fund’s plan and the
requirements prescribed by excise tax rules and Subchapter M of the
Internal Revenue Code. 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 is no assurance that the plan will be successful in doing
so.
Under the managed distribution plan, to the extent that
sufficient investment 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 level. No
conclusions should be drawn about the Fund’s investment performance
from the amount of the Fund’s distributions or from the terms of
the Fund’s managed distribution plan.
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.
With each distribution that does not consist solely of net
investment income, the Fund will issue a notice to shareholders and
an accompanying press release that will provide detailed
information regarding the amount and composition of the
distribution and other related information. The amounts and sources
of distributions reported in the notice to shareholders are only
estimates and are not being 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
its full fiscal year and may be subject to changes based on tax
regulations. The Fund will send shareholders a Form 1099-DIV for
the calendar year that will tell them how to report these
distributions for federal income tax purposes.
The Fund may at times distribute more than its net investment
income and net realized capital gains; therefore, a portion of the
distribution may result in a return of capital. A return of capital
occurs when some or all of the money that shareholders invested in
the Fund is paid back to them. A return of capital does not
necessarily reflect the Fund’s investment performance and should
not be confused with ‘yield’ or ‘income’. Any such returns of
capital will decrease the Fund’s total assets and, therefore, could
have the effect of increasing the Fund’s expense ratio. In
addition, in order to make the level of distributions called for
under its plan, the Fund may have to sell portfolio securities at a
less than opportune time.
You may request a copy of the Fund's current Report to
Shareholders by contacting Franklin Templeton’s Fund Information
Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting
franklintempleton.com. All investments involve risks, including
possible loss of principal. Interest rate movements and mortgage
prepayments will affect the Fund's share price and yield. Bond
prices generally move in the opposite direction of interest rates.
As the prices of bonds in a fund adjust to a rise in interest
rates, the fund’s share price may decline. Investments in
lower-rated bonds include higher risk of default and loss of
principal. The Fund is actively managed but there is no guarantee
that the manager's investment decisions will produce the desired
results. For portfolio management discussions, including
information regarding the Fund’s investment strategies, please view
the most recent Annual or Semi-Annual Report to Shareholders which
can be found at franklintempleton.com or sec.gov.
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 over $1.5 trillion in assets under management as of August 31,
2021. For more information, please visit franklintempleton.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210920005726/en/
Franklin Templeton Shareholders/Financial Advisors: (800)
342-5236
Grafico Azioni Franklin Limited Duratio... (AMEX:FTF)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Franklin Limited Duratio... (AMEX:FTF)
Storico
Da Dic 2023 a Dic 2024