Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribu...
November 13 2017 - 7:00AM
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
12/22/2017 12/21/2017
12/29/2017 January 1/19/2018 1/18/2018
2/01/2018 February 2/16/2018
2/15/2018 3/01/2018
Ticker
Fund Name
Month
Amount
Change
fromPreviousDistribution
SCD
LMP Capital and Income Fund Inc.1 Dec $0.31000
a -
BWG
Legg Mason BW Global Income Opportunities Fund Inc. 1 Dec $0.07650
b $(0.0135) Jan $0.07650 Feb
$0.07650
EMD
Western Asset Emerging Markets Debt Fund Inc. 1 Dec $0.10000 - Jan
$0.10000 Feb $0.10000
1 – Please see table below for each Fund’s
estimated source of distributions. a Quarterly paying distribution.
b The Fund has decreased its distributions to a level that better
approximates the current level of net investment income generated
by its investment portfolio.
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.
The 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 Fund's 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
FiscalYearEnd
Income
Short-TermCapitalGains
Long-TermCapitalGains
ReturnofCapital
SCD Dec 31 10.23% - -
89.77% a BWG Oct 31 94.43% -
- 5.57% b EMD Dec 31 100.00%
- - - c a Sources of cumulative fiscal
year-to-date distributions are estimated through December 31, 2017.
b Sources of cumulative fiscal
year-to-date distributions are estimated through February 28,
2018.
c Sources of cumulative fiscal
year-to-date distributions are estimated through February 28, 2018.
Sources of cumulative fiscal year-to-date distributions are
estimated to be 93.15% sourced from income and 6.85% from a return
of capital through December 31, 2017.
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 2018
and early 2019, 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).
For more information about the Funds, please call 1-888-777-0102
or consult the Fund’s 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. Legg Mason and its affiliates do not
engage in selling shares of the Funds.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171113005211/en/
For Legg Mason Partners Fund Advisor, LLCMaria Rosati,
212-805-6036mrosati@leggmason.com
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