Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed-End Funds Pursuant to their Managed Distribution Policy for the Months of March, April and May 2023

Rhea-AI Summary

Legg Mason Partners Fund Advisor announced the distributions for closed-end funds following their managed distribution policy for March, April, and May 2023. The declared amounts are as follows: Western Asset Inflation-Linked Income Fund (WIA) maintains a distribution of $0.050 for March, $0.050 for April, and $0.050 for May. Western Asset Inflation-Linked Opportunities & Income Fund (WIW) has set distributions at $0.0605 for March, $0.0605 for April, and $0.0605 for May. Distributions are influenced by net investment income and capital gains. The funds' shares are traded on the NYSE.

Positive

• Consistent monthly distributions maintained for March, April, and May 2023 for both WIA and WIW.
• WIA's March distribution includes an additional special distribution, indicating strong performance.

Negative

• The potential for distributions to come from net assets, which may include returns of capital, poses a risk to investors.
• The Board of Trustees reserves the right to modify or suspend the managed distribution policy at any time, which could adversely affect market price.

NEW YORK--(BUSINESS WIRE)-- Legg Mason Partners Fund Advisor, 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 2023.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
March	3/24/2023	3/23/2023	3/31/2023
April	4/21/2023	4/20/2023	4/28/2023
May	5/23/2023	5/22/2023	5/31/2023

Ticker	Fund Name	Month	Amount		Change from Previous Distribution
WIA	Western Asset Inflation-Linked Income Fund (a)	March	$0.05000	(b)	-
		March	$0.10000	(b)
		April	$0.05000
		May	$0.05000
WIW	Western Asset Inflation-Linked Opportunities & Income Fund (a)	March	$0.06050	(c)	-
		March	$0.05800	(c)
		April	$0.06050
		May	$0.06050

(a)		Please see table below for each Fund’s estimated source of distributions.
(b)		Western Asset Inflation-Linked Income Fund’s (WIA) March 2023 distribution consists of the regular monthly distribution of $0.05000 per share and a special distribution of $0.10000 per share.
(c)		Western Asset Inflation-Linked Opportunities & Income Fund’s (WIW) March 2023 distribution consists of the regular monthly distribution of $0.06050 per share and a special distribution of $0.05800 per share.

Pursuant to its managed distribution policy, each Fund intends to make regular monthly distributions to shareholders at a fixed rate per common share, which rate may be adjusted from time to time by the Fund’s Board of Trustees. Under each Fund’s managed distribution policy, if, for any monthly distribution, the value of the Fund’s net investment income and net realized capital gain is less than the amount of the distribution, the difference will be distributed from the Fund’s net assets (and may constitute a “return of capital”). 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.

Each Fund’s distributions have been set based on the current level of income generated from the Fund’s investment portfolio and accumulated income and capital gains, if any. 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)

(b)

Sources of cumulative fiscal year-to-date distributions are estimated through May 31, 2023.

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 Trustees. In early 2024, 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).

The Funds’ common shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices 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.

Legg Mason Partners Fund Advisor, 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.

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/20230214005450/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 amounts declared for WIA in March, April, and May 2023?

WIA's distributions are $0.050 for March, $0.050 for April, and $0.050 for May 2023.

What is the distribution amount for WIW for March, April, and May 2023?

WIW's distributions are $0.06050 for March, $0.06050 for April, and $0.06050 for May 2023.

What risk is associated with the managed distribution policy for BEN, WIA, WIW?

The managed distribution policy may involve returns of capital and could be modified or suspended by the Board of Trustees.

When are the ex-dividend and payable dates for WIA and WIW?

For WIA: March 23 is the ex-dividend date with payable on March 31. For WIW: March 22 is the ex-dividend date with payable on March 31.