Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy for the Months of December 2022, January and February 2023
14 Novembre 2022 - 2:00PM
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 December 2022,
January and February 2023.
The following dates apply to the distribution schedule
below:
Month
Record Date
Ex-Dividend Date
Payable Date
December
12/22/2022
12/21/2022
12/30/2022
January
1/24/2023
1/23/2023
2/1/2023
February
2/21/2023
2/17/2023
3/1/2023
Ticker
Fund Name
Month
Amount
Change from Previous
Distribution
SCD
LMP Capital and Income Fund Inc.a
December
$0.26000
b
-
BWG
BrandywineGLOBAL - Global Income
Opportunities
December
$0.09000
-
Fund Inc. a
January
$0.09000
February
$0.09000
EMD
Western Asset Emerging Markets Debt Fund
Inc. a
December
$0.08000
-
January
$0.08000
February
$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
10.26%
-
-
89.74%
(a)
BWG
Oct 31
69.29%
-
-
30.71%
(b)
EMD
Dec 31
73.65%
-
-
26.35%
(c)
- Sources of cumulative fiscal year-to-date distributions are
estimated through December 31, 2022.
- Sources of cumulative fiscal year-to-date distributions are
estimated through February 28, 2023.
- Sources of cumulative fiscal year-to-date distributions are
estimated through February 28, 2023. Cumulative fiscal year-to-date
distributions are estimated to be 73.80% sourced from income and
26.20% sourced from a return of capital through December 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
and early 2024, 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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Investors: Fund Investor Services 1-888-777-0102
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