ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) Announces Increased Distributions and Changes to Monthly Payments
September 12 2024 - 7:00AM
Business Wire
ClearBridge Energy Midstream Opportunity Fund Inc. (EMO)
announced today its distribution payment frequency will change from
quarterly to monthly payments beginning in September 2024.
Additionally, EMO declared a monthly distribution of $0.33 per
share for September, October and November. The new distribution is
the equivalent of $0.99 per quarter, representing an increase of
48% from the prior quarter’s distribution. The investment manager
and the Board of Directors believe higher regular monthly
distributions can enhance shareholder total returns and may have a
positive impact on the Fund’s discount to its net asset value
(NAV).
The following dates apply to the distribution schedule
below:
Month
Record Date
Ex-Dividend Date
Payable Date
September
9/23/2024
9/23/2024
10/1/2024
October
10/24/2024
10/24/2024
11/1/2024
November
11/21/2024
11/21/2024
12/2/2024
Ticker
Fund Name
Month
Amount
Change from
Previous
Distribution
EMO
ClearBridge Energy Midstream Opportunity
Fund Inc.
September
$0.3300 (a)
$0.1067
October
$0.3300
November
$0.3300
(a) EMO to convert to a monthly paying
distribution starting with the September 2024 distribution. The
August 2024 quarterly distribution was $0.6700 per share.
The distributions may be treated as dividend income, return of
capital or a combination thereof for tax purposes. This press
release is not for tax reporting purposes. In early 2025, after
definitive information is available, the Fund will send
stockholders 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 stockholder’s tax return (e.g., dividend income or return of
capital).
The mergers of ClearBridge MLP and Midstream Fund Inc. (NYSE:
CEM) and ClearBridge MLP and Midstream Total Return Fund Inc.
(NYSE: CTR) with and into ClearBridge Energy Midstream Opportunity
Fund Inc. (NYSE: EMO) became effective before markets opened on
September 9, 2024.
Franklin Templeton Fund Adviser, LLC (formerly known as Legg
Mason Partners Fund Advisor, LLC), EMO’s investment manager, 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 Fund’s website at
www.franklintempleton.com/investments/options/closed-end-funds.
Hard copies of the Fund’s 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 Fund.
The Fund’s common shares are traded on the New York Stock
Exchange. Similar to stocks, Fund share price 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. All investments are subject to risk,
including the risk of loss.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY
LOSE VALUE
Category: Distribution Related
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
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version on businesswire.com: https://www.businesswire.com/news/home/20240912231299/en/
Investor Contact: Fund Investor Services
1-888-777-0102
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