BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG or “the Fund”; CUSIP: 10537L104) Announces Notification of Sources of Distributions
BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG) has announced its December 2024 distribution details and fiscal year-to-date allocations. The Fund will distribute $0.0800 per share, sourced entirely from net investment income. The Fund's performance metrics as of November 30, 2024, show an average annual total return of 0.24% over five years, an annualized distribution rate of 10.39%, and a cumulative total return of 1.42% for the fiscal period.
The Fund maintains a managed distribution policy aimed at delivering long-term total returns through monthly distributions. While distributions can come from various sources including investment income and capital gains, shareholders are advised that if the Fund's aggregate income and gains are less than the distribution amount, the difference will constitute a return of capital, affecting their tax basis.
BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG) ha annunciato i dettagli della distribuzione di dicembre 2024 e le allocazioni dall'inizio dell'anno fiscale. Il Fondo distribuirà $0,0800 per azione, interamente provenienti dal reddito da investimento netto. I parametri di performance del Fondo al 30 novembre 2024 mostrano un rendimento totale annuo medio dello 0,24% su cinque anni, un tasso di distribuzione annualizzato del 10,39% e un rendimento totale cumulativo dell'1,42% per il periodo fiscale.
Il Fondo mantiene una politica di distribuzione gestita mirata a garantire rendimenti totali a lungo termine tramite distribuzioni mensili. Sebbene le distribuzioni possano derivare da varie fonti, inclusi il reddito da investimento e i guadagni di capitale, si consiglia agli azionisti che se il reddito e i guadagni complessivi del Fondo sono inferiori all'importo della distribuzione, la differenza costituirà un ritorno di capitale, che influenzerà la loro base fiscale.
BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG) ha anunciado los detalles de la distribución de diciembre de 2024 y las asignaciones del año fiscal hasta la fecha. El Fondo distribuirá $0,0800 por acción, procedente en su totalidad de los ingresos netos de inversión. Las métricas de rendimiento del Fondo a partir del 30 de noviembre de 2024 muestran un rendimiento total anual promedio del 0,24% en cinco años, una tasa de distribución annualizada del 10,39% y un rendimiento total acumulado del 1,42% para el periodo fiscal.
El Fondo mantiene una política de distribución gestionada destinada a ofrecer rendimientos totales a largo plazo a través de distribuciones mensuales. Aunque las distribuciones pueden provenir de varias fuentes, incluidos los ingresos por inversiones y las ganancias de capital, se aconseja a los accionistas que si los ingresos y las ganancias agregadas del Fondo son inferiores al monto de la distribución, la diferencia constituirá un retorno de capital que afectará su base imponible.
BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG)는 2024년 12월 배당금 및 회계 연도 현재까지의 할당 내역을 발표했습니다. 이 기금은 주당 $0.0800을 배당하며, 이는 전액 순 투자 소득에서 발생합니다. 2024년 11월 30일 현재 기금의 성과 지표는 5년 동안 평균 연간 총 수익률이 0.24%이며, 연환산 배당률은 10.39%, 회계 기간 동안 누적 총 수익률은 1.42%임을 보여줍니다.
기금은 월별 배당금을 통해 장기 총 수익률을 제공하는 것을 목표로 하는 관리된 배당 정책을 유지합니다. 배당금은 투자 소득 및 자본 이득 등 다양한 출처에서 발생할 수 있지만, 기금의 총 소득과 이익이 배당금 금액보다 적을 경우 그 차액은 자본 환급으로 간주되어 세금 기준에 영향을 미칠 수 있음을 주주들에게 알려드립니다.
BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG) a annoncé les détails de distribution de décembre 2024 et les allocations depuis le début de l'année fiscale. Le Fonds distribuera 0,0800 $ par action, provenant entièrement des revenus d'investissement net. Les indicateurs de performance du Fonds au 30 novembre 2024 montrent un rendement total annuel moyen de 0,24 % sur cinq ans, un taux de distribution annualisé de 10,39 % et un rendement total cumulé de 1,42 % pour la période fiscale.
Le Fonds maintient une politique de distribution gérée visant à offrir des rendements totaux à long terme par le biais de distributions mensuelles. Bien que les distributions puissent provenir de diverses sources, y compris des revenus d'investissement et des plus-values, il est conseillé aux actionnaires que si les revenus et les gains globaux du Fonds sont inférieurs au montant de la distribution, la différence constituera un retour de capital, affectant leur base fiscale.
BrandywineGLOBAL - Global Income Opportunities Fund Inc. (BWG) hat die Verteilung von Dezember 2024 und die Zuweisungen im laufenden Geschäftsjahr bekannt gegeben. Der Fonds wird 0,0800 $ pro Aktie ausschütten, die vollständig aus dem Nettoinvestitionseinkommen stammen. Die Leistungskennzahlen des Fonds zum 30. November 2024 zeigen eine durchschnittliche jährliche Gesamtrendite von 0,24 % über fünf Jahre, eine annualisierte Ausschüttungsquote von 10,39 % und eine kumulierte Gesamtrendite von 1,42 % für den Geschäftsjahreszeitraum.
Der Fonds verfolgt eine verwaltete Ausschüttungspolitik, die darauf abzielt, langfristige Gesamtrenditen durch monatliche Ausschüttungen zu erzielen. Während Ausschüttungen aus verschiedenen Quellen stammen können, einschließlich Investitionseinkommen und Kapitalgewinnen, wird den Aktionären geraten, dass, wenn das Gesamteinkommen und die Gewinne des Fonds unter dem Ausschüttungsbetrag liegen, die Differenz als Kapitalrückzahlung betrachtet wird, was ihre Steuerbasis beeinflusst.
- High annualized distribution rate of 10.39%
- Consistent monthly distribution policy of $0.0800 per share
- 100% of distribution sourced from net investment income
- Low average annual total return of 0.24% over 5 years
- Modest cumulative total return of 1.42% for the fiscal period
Insights
This distribution announcement reveals BWG's monthly dividend of
The fund's current distribution policy, while providing regular income, may not be aligned with its actual earnings capacity. The warning about potential return of capital distributions indicates the fund might struggle to generate sufficient income to cover its distributions naturally. With only
For income-focused investors, the disparity between the fund's performance and its distribution rate warrants careful monitoring. The low total return coupled with high distributions could signal future distribution cuts or continued erosion of net asset value.
The fund's distribution structure requires strategic analysis. While maintaining a
Most concerning is the complete reliance on net investment income for distributions, with zero contribution from capital gains. In the current market environment, this suggests potential portfolio constraints or flexibility in generating returns through capital appreciation. The fund's managed distribution policy, while providing predictable income, may be creating pressure on portfolio management to maintain distributions at the expense of total return potential.
The disparity between distribution rate and total return suggests the fund may need to reevaluate its distribution strategy to ensure long-term viability and prevent NAV erosion.
Notification of Sources of Distributions
Pursuant to Section 19(a) of the Investment Company Act of 1940
The Fund’s estimated sources of the distribution to be paid on December 31, 2024, and for the fiscal year 2024 year-to-date are as follows:
Estimated Allocations for the December Monthly Distribution as of November 30, 2024:
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
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Cumulative Estimated Allocations fiscal year-to-date as of November 30, 2024, for the fiscal year ending October 31, 2025:
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
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Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution or from the terms of the Plan. BWG estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the BWG distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect BWG’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The 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.
Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 11/30/2024)1 |
Annualized Distribution Rate (as a percentage of NAV as of 11/30/2024)2 |
Cumulative Total Return (in relation to the change in NAV for the fiscal period through 11/30/2024)3 |
Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 11/30/2024)4 |
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Fund Performance and Distribution Rate Information:
- Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through November 30, 2024. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions paid.
- The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV as of November 30, 2024.
- Cumulative Total Return is the percentage change in the Fund’s NAV from October 31, 2024 through November 30, 2024, assuming reinvestment of distributions paid.
- The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period October 31, 2024 through November 30, 2024, as a percentage of the Fund’s NAV as of November 30, 2024.
This Fund has a managed distribution policy that seeks to deliver the Fund’s long-term total return potential through regular monthly distributions declared at a fixed rate per common share. Distributions may be paid in part or in full from net investment income, realized capital gains and by returning capital, or a combination thereof. Shareholders should note, however, that if a Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. The Board of Directors of the Fund may terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund’s shares.
For further information on BrandywineGLOBAL - Global Income Opportunities Fund Inc., please visit our web site at: www.franklintempleton.com/investments/options/closed-end-funds
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/20241231562673/en/
Investor Contact: Fund Investor Services 1-888-777-0102
Source: Franklin Resources, Inc. and Legg Mason Closed End Funds
FAQ
What is BWG's current monthly distribution amount for December 2024?
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What is BWG's cumulative fiscal year-to-date distribution rate?
