Templeton Global Income Fund (“GIM” or the “Fund”) Announces Distribution and Management Fee Waiver Extension

Rhea-AI Summary

Templeton Global Income Fund (NYSE: GIM) announced a $0.0308 monthly distribution per share from net investment income for shareholders of record on January 19, 2023. The payment will occur on January 31, 2023. Additionally, the management has extended the fee waiver until March 31, 2023, with a managed distribution plan set at a minimum annual rate of 8%. This plan aims to stabilize distributions but may include returns of capital, not indicative of performance. Shareholders are advised that the Fund's performance should not be inferred from the distribution amounts.

Positive

• Monthly distribution of $0.0308 per share reflects consistent income generation.
• Extension of fee waiver until March 31, 2023, benefits net investment income.

Negative

• Managed distribution plan may involve return of capital, indicating potential risks to performance.
• Board's ability to amend or terminate the distribution plan could adversely affect market price.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Templeton Global Income Fund [NYSE: GIM] today announced a monthly distribution from net investment income of $0.0308 per share, payable on January 31, 2023, to shareholders of record on January 19, 2023 (Ex-Dividend Date: January 18, 2023).

Additionally, management has extended the Fund’s previously announced fee waiver until March 31, 2023 and will continue to pay the investment manager a monthly fee in dollars, at the annual rate of the Fund’s daily net assets, as listed below, payable at the end of each calendar month:

• 0.600% up to and including $200 million; and

• 0.535% over $200 million, up to and including $700 million.

Effective April 1, 2023, the Fund will resume paying the investment manager a monthly fee in dollars, at the annual rate of the Fund’s daily net assets, as listed below, payable at the end of each calendar month:

• 0.700% up to and including $200 million; and

• 0.635% over $200 million, up to and including $700 million.

The Fund’s Board of Trustees (the “Board”) has authorized a managed distribution plan pursuant to which the Fund makes monthly distributions to shareholders at an annual minimum fixed rate of 8%, based on the average monthly net asset value (NAV) of the Fund’s common shares (the “Plan”). The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan. The amounts and sources of the Fund’s distributions to be reported will be estimates and will not be 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.

For further information on Templeton Global Income Fund, please
visit our web site at: www.franklintempleton.com

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 75 years of investment experience and approximately $1.4 trillion in assets under management as of November 30, 2022. For more information, please visit franklintempleton.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230109005637/en/

Franklin Templeton, 1-800-342-5236

Source: Franklin Templeton

FAQ

When is the next distribution payout for GIM?

The next distribution for GIM is on January 31, 2023.

What is the amount of the distribution for GIM?

GIM is distributing $0.0308 per share.

What is the fee waiver extension date for GIM?

The fee waiver for GIM has been extended until March 31, 2023.

What is the managed distribution plan for GIM?

The managed distribution plan sets a minimum annual rate of 8% based on average monthly NAV.

Can the managed distribution plan for GIM be changed?

Yes, the Board can amend or terminate the managed distribution plan at any time.