Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy for the Months of December 2022, January and February 2023

Rhea-AI Summary

Legg Mason Partners Fund Advisor declared distributions for various closed-end funds under its managed distribution policy for December 2022, January, and February 2023. Key dates include record dates, ex-dividend dates, and payable dates for each month. Funds involved: LMP Capital and Income Fund (SCD), BrandywineGLOBAL - Global Income Opportunities (BWG), and Western Asset Emerging Markets Debt Fund (EMD). Each Fund aims to maintain consistent distribution levels based on generated income and capital gains, with potential implications for shareholder capital.

Positive

• Distributions announced for SCD, BWG, and EMD funds, indicating income generation.
• Consistent distribution levels aimed to attract and retain investors.

Negative

• If income and capital gains fall short, distributions may come from net assets, implying potential return of capital.
• Modification or termination of distribution policy could adversely 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 December 2022, January and February 2023.

The following dates apply to the distribution schedule below:

Month		Record Date		Ex-Dividend Date		Payable Date
December		12/22/2022		12/21/2022		12/30/2022
January		1/24/2023		1/23/2023		2/1/2023
February		2/21/2023		2/17/2023		3/1/2023

Ticker	Fund Name	Month	Amount		Change from Previous Distribution
SCD	LMP Capital and Income Fund Inc.a	December	$0.26000	b	-
BWG	BrandywineGLOBAL - Global Income Opportunities	December	$0.09000		-
	Fund Inc. a	January	$0.09000
		February	$0.09000
EMD	Western Asset Emerging Markets Debt Fund Inc. a	December	$0.08000		-
		January	$0.08000
		February	$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		10.26%		-		-		89.74%	(a)
BWG		Oct 31		69.29%		-		-		30.71%	(b)
EMD		Dec 31		73.65%		-		-		26.35%	(c)

1. Sources of cumulative fiscal year-to-date distributions are estimated through December 31, 2022.
2. Sources of cumulative fiscal year-to-date distributions are estimated through February 28, 2023.
3. Sources of cumulative fiscal year-to-date distributions are estimated through February 28, 2023. Cumulative fiscal year-to-date distributions are estimated to be 73.80% sourced from income and 26.20% sourced from a return of capital through December 31, 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 and early 2024, 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/20221114005513/en/

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

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

FAQ

What are the distribution dates for SCD, BWG, and EMD funds in February 2023?

For February 2023, record date for SCD is 2/21, ex-dividend date is 2/17, and payable date is 3/1. For BWG, record date is 1/24 and payable date is 2/1. EMD's record date is 2/21 with a payable date of 3/1.

What is the distribution amount for SCD, BWG, and EMD in December 2022?

SCD funds have a distribution of $0.26000, BWG is $0.09000, and EMD is $0.08000 for December 2022.

How is the distribution amount determined for closed-end funds like SCD, BWG, and EMD?

The distribution amount is based on the income generated from the funds' investment portfolio and accumulated capital gains.