ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of November 30, 2021

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) reported its unaudited financial statements as of November 30, 2021. The Fund's net assets stood at $200.1 million, with a net asset value per share of $28.26. It demonstrated solid asset coverage ratios: 411% for senior indebtedness and 354% for total leverage. The Fund repurchased 40,308 shares totaling $1,022,101 during the month. The report emphasizes the Fund's strong financial health and strategic share buybacks.

Positive

• Net assets of $200.1 million.
• Net asset value per share at $28.26 represents a solid valuation.
• Asset coverage ratio for senior indebtedness at 411% indicates strong financial leverage capacity.
• Total leverage asset coverage ratio at 354% shows effective use of borrowed capital.
• Successful repurchase of 40,308 shares for $1,022,101 reflects commitment to shareholder value.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of November 30, 2021.

As of November 30, 2021, the Fund’s net assets were $200.1 million, and its net asset value per share was $28.26. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 411% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 354%.

	As of November 30, 2021
	Amount (millions)			Per Share
Investments	$	270.8		$	38.24
Cash and Cash Equivalents		4.6			0.65
Other Assets		4.5			0.64
Total Assets	$	279.9		$	39.53
Senior Notes*	$	27.4		$	3.87
Loans Outstanding*		40.5			5.72
Mandatory Redeemable Preferred Shares*		11.0			1.55
Total Leverage	$	78.9		$	11.14
Other Liabilities	$	0.9		$	0.13
Total Liabilities	$	0.9		$	0.13
Net Assets	$	200.1		$	28.26
Outstanding Shares		7,082,486
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 411%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 354%.
Top Ten Equity Holdings (as of November 30, 2021)**
	Market Value
Name	(millions)			% of Investments			***
MPLX LP	$	20.8			7.7	%
Enterprise Products Partners LP	$	20.0			7.4	%
Targa Resources Corp.	$	19.7			7.3	%
Western Midstream Partners LP	$	15.4			5.7	%
ONEOK Inc.	$	15.0			5.5	%
Williams Cos. Inc.	$	13.9			5.1	%
DCP Midstream LP	$	13.8			5.1	%
Plains All American Pipeline LP	$	12.6			4.6	%
Delek Logistics Partners LP	$	11.4			4.2	%
Enable Midstream Partners LP	$	11.2			4.1	%
	$	153.8			56.7	%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended November 30, 2021, the Fund repurchased in the open market and retired 40,308 of its common shares under the stock repurchase plan for a total amount of $1,022,101.

ClearBridge MLP and Midstream Total Return Fund Inc. is a non-diversified, closed-end management investment company, which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s 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 Fund.

Category: Financials

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005511/en/

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

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

FAQ

What were the net assets of ClearBridge MLP and Midstream Total Return Fund as of November 30, 2021?

The net assets were $200.1 million.

What is the net asset value per share for CTR as of November 30, 2021?

The net asset value per share was $28.26.

What were the asset coverage ratios reported by CTR on November 30, 2021?

The asset coverage ratio for senior indebtedness was 411% and for total leverage was 354%.

How many shares did CTR repurchase in November 2021?

CTR repurchased 40,308 shares.

What was the total amount spent on share repurchases by CTR in November 2021?

A total of $1,022,101 was spent on share repurchases.