Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy for the Months of September, October, and November 2022

Rhea-AI Summary

Legg Mason Partners Fund Advisor announced distribution declarations for its closed-end funds under a managed distribution policy for September, October, and November 2022. Key dates include record dates of September 23, October 24, and November 22, with payable dates spanning from October 3 to December 1, 2022. Specific distributions noted are for funds SCD at $0.26000, BWG at $0.09000, and EMD at $0.08000. Investors should be aware that distributions may involve a return of capital if net investment income is insufficient.

Positive

• SCD, BWG, and EMD have declared consistent monthly distributions for September, October, and November 2022.
• The distribution amounts reflect a steady income generation from the Funds' investment portfolios.

Negative

• Distributions may involve a return of shareholder's capital, indicating potential financial risks.
• The managed distribution policy may be modified or terminated, which could negatively affect share prices.

NEW YORK--(BUSINESS WIRE)-- Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared distributions pursuant to their managed distribution policy for the months of September, October, and November 2022.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
September	9/23/2022	9/22/2022	10/3/2022
October	10/24/2022	10/21/2022	11/1/2022
November	11/22/2022	11/21/2022	12/1/2022

Ticker	Fund Name	Month	Amount		Change from Previous Distribution
SCD	LMP Capital and Income Fund Inc.a	September	$0.26000	b	-
BWG	BrandywineGLOBAL - Global Income Opportunities Fund Inc. a	September	$0.09000		-
		October	$0.09000
		November	$0.09000
EMD	Western Asset Emerging Markets Debt Fund Inc. a	September	$0.08000		-
		October	$0.08000
		November	$0.08000

^a Please see table below for each Fund’s estimated source of distributions.
^b Quarterly paying distribution.

Under the terms of each Fund’s managed distribution policy, each Fund seeks to maintain a consistent distribution level derived from the income and capital gains generated from the Fund’s investment portfolio. Shareholders should note that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distributions paid, the difference will be distributed from the Fund's net assets and may constitute a return of the shareholder’s capital. The Board of Directors may modify, terminate or suspend the managed distribution policy at any time. Any such modification, termination or suspension could have an adverse effect on the market price of the Fund’s shares.

Each Fund’s distributions have been set based on the current level of income generated from the Fund’s investment portfolio and accumulated capital gains, if any. Based on the Funds’ tax accounting records, which also factor in currency fluctuations, each Fund’s estimated source of cumulative fiscal year-to-date distributions is presented in the table below:

Fund	Fiscal Year End		Income		Short-Term Capital Gains		Long-Term Capital Gains		Return of Capital
SCD	Nov 30		24.07%		-		-		75.93%	(a)
BWG	Oct 31		27.86%		-		-		72.14%	(b)
EMD	Dec 31		73.45%		-		-		26.55%	(b)

1. Sources of cumulative fiscal year-to-date distributions are estimated through September 30, 2022.
2. Sources of cumulative fiscal year-to-date distributions are estimated through November 30, 2022.

The updated estimated components of the distributions announced today will be provided to shareholders of record in a separate notice when the distributions are paid.

This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the Board of Directors. In early 2023, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Funds’ common shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices 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.

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.

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/20220802005565/en/

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

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

FAQ

What are the distribution amounts for SCD, BWG, and EMD for September 2022?

The distributions are $0.26000 for SCD, $0.09000 for BWG, and $0.08000 for EMD.

When are the payable dates for the distributions of SCD, BWG, and EMD?

The payable dates are October 3, 2022 for SCD, November 1, 2022 for BWG, and December 1, 2022 for EMD.

What is the risk associated with the distributions declared by these funds?

There is a risk that distributions may constitute a return of capital if net investment income and capital gains are insufficient.

How often do the funds SCD, BWG, and EMD declare distributions?

These funds declare distributions monthly under their managed distribution policy.

What should shareholders consider regarding the managed distribution policy?

Shareholders should note that the Board may modify or suspend the distribution policy, potentially affecting market prices.