Legg Mason Partners Fund Advisor, LLC Announces Distributions for the Month of August 2022

Rhea-AI Summary

Legg Mason Partners Fund Advisor announced August 2022 distributions for closed-end funds including CEM, EMO, and CTR. Key dates are the record date of August 24, 2022, ex-dividend date of August 23, 2022, and payable date of August 31, 2022. The distributions are $0.6100 for CEM, $0.5100 for EMO, and $0.5300 for CTR, each reflecting a $0.0100 increase from previous distributions. According to Portfolio Manager Chris Eades, midstream industry fundamentals are improving, leading to accelerated free cash flow and expected higher dividend growth.

Positive

• Distributions increased by $0.0100 for all funds: CEM, EMO, and CTR.
• Portfolio manager indicates improving midstream industry fundamentals and expected higher dividend growth.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared their distributions for the month of August 2022.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
August	8/24/2022	8/23/2022	8/31/2022

Ticker		Fund Name	Amount		Change from Previous Distribution
CEM		ClearBridge MLP and Midstream Fund Inc.	$0.6100		$0.0100
EMO		ClearBridge Energy Midstream Opportunity Fund Inc.	$0.5100		$0.0100
CTR		ClearBridge MLP and Midstream Total Return Fund Inc.	$0.5300		$0.0100

“We believe midstream industry fundamentals continue to improve. Our analysis shows that free cash flow generation is accelerating and our portfolio companies are now expected to increase dividends and distributions at a higher growth rate than we anticipated entering 2022. Our announced distribution increases reflect increasing income into the funds.” - Chris Eades, Portfolio Manager

The distributions may be treated as dividend income, return of capital or a combination thereof for tax purposes. This press release is not for tax reporting purposes. In early 2023, after definitive information is available, the Funds will send stockholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Funds during the prior calendar year should be characterized for purposes of reporting the distributions on a stockholder’s tax return (e.g., dividend income or return of capital).

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.

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.

This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from each Fund’s present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the fund’s filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained.

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/20220802005563/en/

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

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

FAQ

What are the August 2022 distribution amounts for CEM, EMO, and CTR?

CEM has a distribution of $0.6100, EMO has $0.5100, and CTR has $0.5300.

What are the key dates for the August 2022 distributions?

The record date is August 24, 2022, the ex-dividend date is August 23, 2022, and the payable date is August 31, 2022.

Who announced the August 2022 distributions for CEM, EMO, and CTR?

Legg Mason Partners Fund Advisor announced the distributions.

How have the distributions for CEM, EMO, and CTR changed from previous distributions?

Each fund's distribution increased by $0.0100 from previous distributions.

What does the portfolio manager say about the midstream industry?

The portfolio manager states that midstream industry fundamentals are improving, with accelerating free cash flow.