Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to Their Managed Distribution Policy

Rhea-AI Summary

Legg Mason Partners Fund Advisor announced distributions for certain closed-end funds under its managed distribution policy. Key dates include record and ex-dividend dates for March, April, and May 2021. The funds include LMP Capital and Income Fund (SCD), BrandywineGLOBAL - Global Income Opportunities Fund (BWG), and Western Asset Emerging Markets Debt Fund (EMD). Distributions range from $0.08000 to $0.26000. The policy aims to maintain consistent distributions but may involve return of capital if income and gains are insufficient.

Positive

• Consistent distribution levels maintained from income and capital gains.
• Funds aim to provide steady returns for shareholders.

Negative

• Potential return of capital if distributions exceed income and gains.
• Modification or termination of distribution policy could adversely affect share market prices.

Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared distributions pursuant to their managed distribution policy.

The following dates apply to the distribution schedule below:

Month		Record Date		Ex-Dividend Date		Payable Date
March		3/24/2021		3/23/2021		4/1/2021
April		4/23/2021		4/22/2021		5/3/2021
May		5/21/2021		5/20/2021		6/1/2021

Ticker	Fund Name		Month		Amount		Change from Previous Distribution
SCD	LMP Capital and Income Fund Inc.a		March		$0.26000	b	-
BWG	BrandywineGLOBAL - Global Income Opportunities Fund Inc. a		March		$0.08000		0.00500
			April		$0.08000
			May		$0.08000
EMD	Western Asset Emerging Markets Debt Fund Inc. a		March		$0.09000		-
			April		$0.09000
			May		$0.09000
(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, the 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 factors 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		18.79%		-		-		81.21%	(a)
BWG	Oct 31		100.00%		-		-		-	(b)
EMD	Dec 31		81.19%		-		-		18.81%	(b)
(a) Sources of cumulative fiscal year-to-date distributions are estimated through March 31, 2021.
(b) Sources of cumulative fiscal year-to-date distributions are estimated through May 31, 2021.

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 2022, 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).

On July 31, 2020, Franklin Resources, Inc. (“Franklin Resources”) acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash transaction. As a result of the transaction, Legg Mason Partners Fund Advisor, LLC, previously a wholly-owned subsidiary of Legg Mason, became a wholly-owned subsidiary of Franklin Resources.

For more information about the Funds, please call 1-888-777-0102 or consult the Funds’ web site at www.lmcef.com. 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/20210217005439/en/

FAQ

What are the distribution dates for SCD fund in 2021?

The record date for SCD is March 24, 2021, with an ex-dividend date of March 23, 2021, and payable date on April 1, 2021.

What is the distribution amount for BWG fund in March 2021?

The distribution amount for BWG in March 2021 is $0.08000.

Are there any changes in distributions for EMD fund for 2021?

No changes are noted; EMD fund's distribution remains $0.09000 for March, April, and May 2021.