Welcome to our dedicated page for Western Asset Investment Grade Income Fund news (Ticker: PAI), a resource for investors and traders seeking the latest updates and insights on Western Asset Investment Grade Income Fund stock.
Western Asset Investment Grade Income Fund Inc. (PAI) is a closed-end diversified investment company meticulously designed for long-term investors. The primary goal of the fund is to achieve a high level of current income while maintaining prudent investment risks. This is achieved through a carefully diversified portfolio predominantly consisting of debt securities. These securities may include convertible or exchangeable securities, those with warrants to purchase common stock or other equity interests, and preferred stock.
Western Asset Investment Grade Income Fund Inc. is not intended as a trading vehicle but rather as a stable, long-term investment option.
The fund's management team focuses on leveraging extensive research and a disciplined investment approach to uncover opportunities that align with its investment objectives. By investing in a diversified mix of income-generating securities, the fund aims to provide its shareholders with attractive returns over time.
Following the merger of Legg Mason and Franklin Templeton, updates and insights regarding the fund are now accessible through the Franklin Templeton platform. This merger has brought together the strengths of both firms, providing enhanced resources and expertise to better serve investors.
For the latest news and updates about Western Asset Investment Grade Income Fund Inc., investors are encouraged to follow the Franklin Templeton company page.
Western Asset Investment Grade Income Fund (NYSE: PAI) reported its financial position as of September 30, 2024. The Fund's total net assets increased to $127.77 million, up from $122.17 million in the previous quarter and $115.53 million year-over-year. The NAV per share rose to $13.43, while the market price per share reached $12.86, showing a discount of 4.24%. The Fund reported quarterly net investment income of $1.51 million and total net realized/unrealized gain of $5.56 million, resulting in a net increase in assets from operations of $7.07 million. Earnings per share for the quarter were $0.74, with undistributed net investment income per share at $0.12.
Franklin Templeton Fund Adviser, has announced distributions for certain closed-end funds for September, October, and November 2024. The Western Asset Investment Grade Income Fund Inc. (PAI) will distribute $0.05150 per share each month, while the Western Asset Premier Bond Fund (WEA) will distribute $0.07000 per share monthly. These distributions are categorized as income and remain unchanged from previous distributions.
Key dates for these distributions are:
- September: Record & Ex-Dividend Date - 9/23/2024, Payable Date - 10/1/2024
- October: Record & Ex-Dividend Date - 10/24/2024, Payable Date - 11/1/2024
- November: Record & Ex-Dividend Date - 11/21/2024, Payable Date - 12/2/2024
Shareholders will receive Form 1099-DIV in early 2025 for tax reporting purposes. The funds' shares are traded on the New York Stock Exchange and are subject to market fluctuations.
Western Asset Investment Grade Income Fund (NYSE: PAI) released its financial status as of March 31, 2024. Total net assets were $123.7 million, slightly down from $124.7 million in the previous quarter but up from $121.5 million last year. The NAV per share was $13.01, a decrease from $13.11 in Q4 2023 but an increase from $12.78 in Q1 2023. The market price per share was $12.19, reflecting a 6.30% discount to NAV.
The fund's total net investment income was $1.49 million, down from $1.59 million in the previous quarter, but higher than $1.46 million a year ago. Net realized/unrealized loss was $1.06 million compared to gains of $8.93 million last quarter and $1.95 million in Q1 2023. The net increase in net assets from operations was $431,965, a sharp drop from $10.52 million last quarter and $3.41 million last year.
Earnings per share were $0.05, down from $1.11 in Q4 2023 and $0.35 in Q1 2023. Undistributed net investment income per share was $0.11, compared to $0.10 last quarter and $0.07 in Q1 2023.
Franklin Templeton Fund Adviser, has announced the distribution schedules for its closed-end funds for June, July, and August 2024. The Western Asset Investment Grade Income Fund (PAI) will distribute $0.05150 per share for each month, with an increase of $0.00250 from the previous distribution in June. The Western Asset Premier Bond Fund (WEA) will distribute $0.07000 per share monthly, with no changes from previous distributions. The record and ex-dividend dates are June 21, July 24, and August 23, 2024, with payable dates on July 1, August 1, and September 3, 2024, respectively. This announcement is informational and not for tax reporting purposes. Detailed tax information will be provided in early 2025 via Form 1099-DIV.
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