Franklin Templeton Fund Adviser, LLC Announces Distributions for Certain Closed-End Funds Pursuant to their Managed Distribution Policy for the Months of March, April and May 2025

Rhea-AI Summary

Franklin Templeton Fund Adviser, has announced that certain closed-end funds will distribute dividends for March, April, and May 2025, under their managed distribution policy. Key dates for these distributions are:

• March: Record Date - 3/24/2025, Ex-Dividend Date - 3/24/2025, Payable Date - 3/31/2025
• April: Record Date - 4/23/2025, Ex-Dividend Date - 4/23/2025, Payable Date - 4/30/2025
• May: Record Date - 5/22/2025, Ex-Dividend Date - 5/22/2025, Payable Date - 5/30/2025

The funds and their respective distribution amounts are:

• Western Asset Inflation-Linked Income Fund (WIA): $0.05200 per month
• Western Asset Inflation-Linked Opportunities & Income Fund (WIW): $0.06250 per month

Under the managed distribution policy, the funds aim to maintain consistent distribution levels from income and capital gains. If necessary, they may distribute long-term capital gains or return of capital. The Board of Trustees reserves the right to modify or terminate the policy, which could affect the funds' market prices.

For fiscal year-to-date distributions, both funds have sourced 100% of their distributions from income. Shareholders will receive Form 1099-DIV for tax reporting. For more information, visit Franklin Templeton's website or call 1-888-777-0102.

NEW YORK--(BUSINESS WIRE)-- Franklin Templeton Fund Adviser, LLC announced today that certain closed-end funds have declared their distributions pursuant to their managed distribution policy for the months of March, April and May 2025.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
March	3/24/2025	3/24/2025	3/31/2025
April	4/23/2025	4/23/2025	4/30/2025
May	5/22/2025	5/22/2025	5/30/2025

Ticker	Fund Name	Month	Amount	Change from Previous Distribution
WIA	Western Asset Inflation-Linked Income Fund (a)	March	$0.05200	$0.00200
		April	$0.05200
		May	$0.05200
WIW	Western Asset Inflation-Linked Opportunities	March	$0.06250	$0.00200
	& Income Fund (a)	April	$0.06250
		May	$0.06250
(a) Please see table below for each Fund’s estimated source of distributions.

Under the terms of each Fund’s managed distribution policy, each Fund seeks to maintain a consistent distribution level derived from the income and capital gains generated from the Fund’s investment portfolio. To the extent that sufficient distributable income is not available on a monthly basis, each Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years. The Board of Trustees 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.

Based on the Funds’ tax accounting records, which also factor 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
WIA	Nov 30	100.00%	-	-	-	(a)
WIW	Nov 30	100.00%	-	-	-	(a)
(a) Sources of cumulative fiscal year-to-date distributions are estimated through May 31, 2025.

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.

Shareholders should not draw any conclusions about each Fund’s investment performance from the amount of these distributions or from the terms of each Fund’s managed distribution policy. The amounts and sources of each Fund’s distributions to be reported will be estimates and will not be provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Franklin Templeton Fund Adviser, LLC 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 Funds’ website at www.franklintempleton.com/investments/options/closed-end-funds. 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.

The Funds’ 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20250219838560/en/

Investor Contact: Fund Investor Services 1-888-777-0102

Source: Franklin Resources, Inc. and Legg Mason Closed End Funds

FAQ

What are the distribution dates for BEN closed-end funds in March 2025?

The distribution dates for March 2025 are: Record Date - 3/24/2025, Ex-Dividend Date - 3/24/2025, Payable Date - 3/31/2025.

How much is the monthly distribution for BEN's Western Asset Inflation-Linked Income Fund?

The monthly distribution for the Western Asset Inflation-Linked Income Fund (WIA) is $0.05200.

What is the distribution amount for BEN's Western Asset Inflation-Linked Opportunities & Income Fund in May 2025?

The distribution amount for the Western Asset Inflation-Linked Opportunities & Income Fund (WIW) in May 2025 is $0.06250.

What does a return of capital mean for BEN shareholders?

A return of capital occurs when part of the original investment is paid back to shareholders. It does not reflect the fund's investment performance and should not be confused with yield or income.

Will BEN shareholders receive tax reporting information for the 2025 distributions?

Yes, shareholders will receive a Form 1099-DIV for the calendar year, detailing how to report the fund's distributions for federal income tax purposes.

What are the record and ex-dividend dates for BEN's closed-end funds in April 2025?

For April 2025, the Record Date and Ex-Dividend Date are both 4/23/2025, and the Payable Date is 4/30/2025.

How does the managed distribution policy impact BEN's closed-end funds?

The managed distribution policy aims to maintain consistent distribution levels. If necessary, funds may distribute long-term capital gains or return of capital to meet the policy. The Board of Trustees can modify or terminate this policy, potentially affecting the market price of the funds' shares.