Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribu...
18 November 2020 - 12:00AM
Business Wire
Legg Mason Partners Fund Advisor, LLC announced today that
certain closed end funds have declared distributions pursuant to
their managed distribution policy.
The following dates apply to the distribution schedule
below:
Month
Record Date
Ex-Dividend Date
Payable Date
December
12/23/2020
12/22/2020
12/31/2020
January*
1/22/2021
1/21/2021
2/1/2021
February
2/19/2021
2/18/2021
3/1/2021
*BrandywineGLOBAL – Global Income Opportunities Fund Inc.’s
(“BWG”) January 2021 distribution will have a record date
of12/31/2020, an ex-dividend date of 12/30/2020 and a payable date
of 1/29/2021.
Ticker
Fund Name
Month
Amount
Change from Previous
Distribution
SCD
LMP Capital and Income Fund Inc.a
December
$0.26000
b
(0.050000)
BWG
BrandywineGLOBAL - Global Income
Opportunities Fund Inc. a
December
$0.07500
0.005000
January*
$0.07500
February
$0.07500
EMD
Western Asset Emerging Markets Debt Fund
Inc. a
December
$0.09000
(0.005000)
January
$0.09000
February
$0.09000
(a) Please see table below for each Fund’s estimated source of
distributions. (b) Quarterly paying distribution. * BWG’s January
2021 distribution will have a record date of 12/31/2020, an
ex-dividend date of 12/30/2020 and a payable date of 1/29/2021.
Under the terms of each Fund’s managed distribution policy, the
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 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 factors 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
12.70%
-
-
87.3%
(a)
BWG
Oct 31
100.00%
-
-
-
(b)
EMD
Dec 31
100.00%
-
-
-
(c)
(a) Sources of cumulative fiscal year-to-date distributions are
estimated through December 31, 2020. (b) Sources of cumulative
fiscal year-to-date distributions are estimated through February
28, 2021. (c) Sources of cumulative fiscal year-to-date
distributions are estimated through February 28, 2021. Cumulative
fiscal year-to-date distributions are estimated to be 91.65%
sourced from income and 8.35% from a return of capital through
December 31, 2020.
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 2021
and early 2022, 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).
On July 31, 2020, Franklin Resources, Inc. (“Franklin
Resources”) acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash
transaction. As a result of the transaction, Legg Mason Partners
Fund Advisor, LLC, previously a wholly-owned subsidiary of Legg
Mason, became a wholly-owned subsidiary of Franklin Resources.
For more information about the Funds, please call 1-888-777-0102
or consult the Funds’ web site at www.lmcef.com. 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 Templeton
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version on businesswire.com: https://www.businesswire.com/news/home/20201117005640/en/
Investor Contact: Fund Investor Services
1-888-777-0102
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