Templeton Emerging Markets Income Fund (“TEI” or the “Fund”) Announces Distribution and Increase to its Managed Distribution Plan
02 Agosto 2021 - 7:46PM
Business Wire
Templeton Emerging Markets Income Fund [NYSE: TEI] today
announced a monthly distribution from net investment income of
$0.0716 per share, payable on August 31, 2021, to shareholders of
record on August 16, 2021 (Ex-Dividend Date: August 13, 2021).
The Fund’s Board recently authorized an increase to TEI’s
managed distribution plan pursuant to which the Fund will make
monthly distributions to shareholders at an annual minimum fixed
rate of 10%, an increase from the previously authorized 8.5%, based
on the average monthly net asset value (NAV) of the Fund’s common
shares (the “Plan”). The Fund will calculate 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 Plan is subject to periodic review by the Board and may be
amended or terminated at any time.
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.
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 June 30,
2021. For more information, please visit franklintempleton.com.
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Franklin Templeton, 1-800-342-5236
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