LMP Capital and Income Fund Inc. (“SCD”) Announces Quarterly Distribution for December 2009
17 November 2009 - 9:00AM
Business Wire
LMP Capital and Income Fund Inc., which is listed on the New
York Stock Exchange under the symbol "SCD," today announced a
quarterly distribution of $0.1300 per common share payable in
December 2009.
The distribution schedule appears below:
Month
Ex-Date
Record Date
Payable Date
Amount
December 12/16/2009 12/18/2009 12/28/2009 $0.1300
The Board of Directors of the Fund has approved an annual
distribution rate for the 2009 calendar year of a minimum of
approximately 5% of the net asset value of the Fund as of the close
of trading on December 31, 2008. Based on the Fund’s net asset
value of $10.09 per share as of the close of trading on December
31, 2008, this equates to a quarterly distribution rate of $0.1300
per share for calendar year 2009. The Fund may make additional
distributions as necessary to meet certain tax requirements.
Under the terms of the Fund's managed distribution policy, the
Fund will seek to maintain a consistent quarterly distribution
level stated as a fixed percentage of its December 31, 2008 net
asset value per share, that may be paid in part or in full from net
investment income and realized capital gains, or a combination
thereof. Shareholders should note, however, that if the Fund's
aggregate net investment income and net realized capital gains are
less than the amount of the quarterly distribution level, the
difference will be distributed from the Fund's assets and will
constitute a return of the shareholder's capital. A return of
capital is not taxable as a dividend; rather it reduces a
shareholder's tax basis in his or her shares of the Fund.
The Board of Directors may reduce the Fund's quarterly
distribution rate in the future or terminate or suspend the managed
distribution policy at any time. Any such reduction in the
quarterly distribution rate, termination or suspension could have
an adverse effect on the market price of the Fund's shares.
Based on the Fund's accounting records as of the date of this
press release, the Fund estimates that approximately 100% of the
cumulative fiscal year-to-date distributions through December 2009
are sourced from net investment income. The estimated components of
each distribution will be provided to shareholders of record in a
separate notice.
Please note that neither this press release nor the separate
notice should be used for tax reporting purposes and that each is
being provided to announce the amount and estimated source of the
Fund's distributions that have been declared by the Board of
Directors. In early 2010, after definitive information is
available, the Fund will send shareholders a Form 1099-DIV, if
applicable, specifying how the distributions paid by the 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).
LMP Capital and Income Fund Inc. is a non-diversified,
closed-end management investment company. Legg Mason Partners Fund
Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., serves
as the Fund's investment manager and is sub-advised by ClearBridge
Advisors, LLC, and Western Asset Management Company, affiliates of
the investment manager.
Contact the Fund at 1-888-777-0102 for additional information,
or consult the Fund’s web site at www.leggmason.com/cef.
All data and commentary provided within this press release is
for informational purposes only. Legg Mason, Inc. and all of its
affiliates do not engage in selling any of the shares of the Fund.
The Fund’s common shares are traded on the New York Stock
Exchange.
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