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

Rhea-AI Summary

Legg Mason Partners Fund Advisor announced the distribution details for its closed-end funds for May 2022. The distribution amounts are as follows: ClearBridge MLP and Midstream Fund (CEM) at $0.6000, ClearBridge Energy Midstream Opportunity Fund (EMO) at $0.5000, and ClearBridge MLP and Midstream Total Return Fund (CTR) at $0.5200. The record date for distributions is May 23, 2022, with an ex-dividend date of May 20, 2022, and a payable date of May 31, 2022. Portfolio Manager Chris Eades noted improving midstream industry fundamentals, indicating greater expected dividend growth.

Positive

• CEM, EMO, and CTR announced increased distributions of $0.6000, $0.5000, and $0.5200, respectively.
• Portfolio Manager indicates accelerating free cash flow generation and higher anticipated growth in dividends.

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• 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 May 2022.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
May	5/23/2022	5/20/2022	5/31/2022

Ticker	Fund Name	Amount	Change from Previous Distribution
CEM	ClearBridge MLP and Midstream Fund Inc.	$0.6000	$0.1100
EMO	ClearBridge Energy Midstream Opportunity Fund Inc.	$0.5000	$0.1100
CTR	ClearBridge MLP and Midstream Total Return Fund Inc.	$0.5200	$0.0900

“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 Fund’s 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/20220311005166/en/

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

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

FAQ

What are the May 2022 distribution details for CEM, EMO, and CTR?

The May 2022 distributions are $0.6000 for CEM, $0.5000 for EMO, and $0.5200 for CTR.

When will the distributions for CEM, EMO, and CTR be paid?

The payable date for the distributions is May 31, 2022.

What is the record date for the May 2022 distributions for CEM, EMO, and CTR?

The record date for the distributions is May 23, 2022.

What is the ex-dividend date for CEM, EMO, and CTR?

The ex-dividend date is May 20, 2022.

Who is the portfolio manager for the ClearBridge funds?

Chris Eades is the Portfolio Manager.