Templeton Global Income Fund (“GIM” or the “Fund”) Announces Distribution

Rhea-AI Summary

Templeton Global Income Fund (NYSE: GIM) has announced a monthly distribution of $0.0320 per share from net investment income, payable on February 28, 2023. The distribution is part of a managed distribution plan that guarantees an annual minimum rate of 8%, based on the Fund's average net asset value (NAV). This plan aims to provide consistent monthly payouts to shareholders and reduce market price discounts relative to NAV. The Board retains the authority to amend or terminate the plan without prior notice, which may impact the market price of GIM shares. Shareholders are advised not to draw conclusions about investment performance from this distribution.

Positive

• Monthly distribution of $0.0320 per share enhances shareholder returns.
• Managed distribution plan ensures a minimum annual rate of 8%, fostering stability.
• Aim to reduce the discount between market price and NAV indicates strong management intent.

Negative

• Distribution sources may include return of capital, which does not reflect investment performance.
• The Board's ability to amend or terminate the plan without notice poses a risk to shareholders.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Templeton Global Income Fund [NYSE: GIM] today announced a monthly distribution from net investment income of $0.0320 per share, payable on February 28, 2023, to shareholders of record on February 17, 2023 (Ex-Dividend Date: February 16, 2023).

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 December 31, 2022. For more information, please visit franklintempleton.com.

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Franklin Templeton, 1-800-342-5236

Source: Franklin Templeton

FAQ

What is the monthly distribution amount for Templeton Global Income Fund (GIM) in February 2023?

The monthly distribution amount for GIM in February 2023 is $0.0320 per share.

When is the ex-dividend date for GIM's February 2023 distribution?

The ex-dividend date for GIM's February 2023 distribution is February 16, 2023.

What is the purpose of the managed distribution plan for GIM?

The managed distribution plan aims to provide monthly distributions at a minimum annual rate of 8% based on the Fund's average net asset value.

Can the managed distribution plan for GIM be amended or terminated?

Yes, the Board can amend or terminate the managed distribution plan at any time without prior notice.

What does a return of capital mean for GIM shareholders?

A return of capital means that some or all of the money invested in the Fund is being returned to shareholders, which does not necessarily indicate good investment performance.