Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy

By Business Wire,  August 18, 2014, 08:00:00 AM EDT


NEW YORK--(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
September   09/19/2014   09/17/2014   09/26/2014  
October   10/24/2014   10/22/2014   10/31/2014  
November   11/21/2014   11/19/2014   11/28/2014  
 
Ticker   Fund Name   Month   Amount      

Change

from

Previous

Distribution

SCD  

LMP Capital and Income Fund Inc.1

  September   $ 0.28000   a     -
                     
BWG

Legg Mason BW Global Income Opportunities Fund Inc. 1

September $ 0.13000 b $0.00500
October $ 0.13000
        November   $ 0.13000        
ESD Western Asset Emerging Markets Debt Fund Inc. 1 September $ 0.11500 c ($0.00500 )
October $ 0.11500
        November   $ 0.11500        
EMD Western Asset Emerging Markets Income Fund Inc. 1 September $ 0.23000 a,c ($0.02500 )
                     
SBW Western Asset Worldwide Income Fund Inc. 1 September $ 0.08000 c ($0.00400 )
October $ 0.08000
        November   $ 0.08000        
a   Quarterly paying distribution.
b The Fund has increased its distribution rate to a level that better reflects both the current level of income and total return generated by the Fund's investment portfolio.
c In declaring the new rate, the Fund cited a decrease in the net investment income generated by its investment portfolio and a decrease in the amount of capital gains available to augment the distribution.
 

The following dates apply to the distribution schedule below:

 
Month   Record Date   Ex-Dividend Date   Payable Date
October   10/24/2014   10/22/2014   10/31/2014
November   11/21/2014   11/19/2014   11/28/2014
December   12/19/2014   12/17/2014   12/26/2014
 
Ticker   Fund Name   Month   Amount  

Change

from

Previous

Distribution

RIT   LMP Real Estate Income Fund Inc. 1   October   $ 0.06000   -
November $ 0.06000
        December   $ 0.06000    
 
1 - Please see table below for each Fund's estimated source of distributions.
 

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  

Fiscal

Year

End

  Income  

Short-Term

Capital

Gains

 

Long-Term

Capital

Gains

 

Return

of

Capital

   

SCD

  Nov 30   84.29%   -   -   15.71%   d

BWG

  Oct 31   60.58%   26.26%   13.16%   -   e

ESD

  Dec 31   95.86%   -   4.14%   -   e

EMD

  May 31   100.00%   -   -   -   d

SBW

  Dec 31   96.03%   -   3.97%   -   e

RIT

  Dec 31   76.83%   -   -   23.17%   f
d   Sources of cumulative fiscal year-to-date distributions are estimated through September 30, 2014.
e Sources of cumulative fiscal year-to-date distributions are estimated through November 30, 2014.
f Sources of cumulative fiscal year-to-date distributions are estimated through December 31, 2014.
 

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 2015, 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).

Contact the Funds at 1-888-777-0102 for additional information, or consult the Funds' web site at www.lmcef.com.

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.

Source: Legg Mason Partners Fund Advisor, LLC



This article appears in: News Headlines

Referenced Stocks: BWG, EMD, ESD, RIT, SBW


Latest News Video





Most Active by Volume

Company Last Sale Change Net / %
BABA $ 93.89 unch
YHOO $ 40.93 1.16 ▼ 2.74%
MSFT $ 47.52 0.84 ▲ 1.80%
RAD $ 5.35 0.06 ▼ 1.11%
BAC $ 16.95 0.09 ▼ 0.53%
ORCL $ 39.80 1.75 ▼ 4.21%
SIRI $ 3.57 0.07 ▼ 1.79%
AAPL $ 100.96 0.83 ▼ 0.82%

As of 9/19/2014, 04:15 PM