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

Rhea-AI Summary

Legg Mason Partners Fund Advisor, LLC has announced distributions for certain closed-end funds under its managed distribution policy for March, April, and May 2022. The funds include LMP Capital and Income Fund Inc. (SCD), BrandywineGLOBAL - Global Income Opportunities (BWG), and Western Asset Emerging Markets Debt Fund Inc. (EMD). Record dates range from March 24 to May 23, with payments starting April 1 and ending June 1. The distributions are derived from each fund’s investment income and capital gains, with details on potential returns of capital made available to shareholders.

Positive

• Distributions for SCD, BWG, and EMD demonstrate consistent income generation from investment portfolios.
• No change in distribution amounts from previous periods for SCD, BWG, and EMD indicates stability.

Negative

• Funds may distribute from net assets if net investment income and capital gains are insufficient, potentially reducing shareholder capital.
• The Board reserves the right to modify or suspend the distribution policy, which 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 March, April and May 2022.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
March	3/24/2022	3/23/2022	4/1/2022
April	4/22/2022	4/21/2022	5/2/2022
May	5/23/2022	5/20/2022	6/1/2022

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	March	$0.09000		-
	Fund Inc. a	April	$0.09000
		May	$0.09000
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, 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		22.15%		-		-		77.85%	(a)
BWG	Oct 31		51.22%		-		-		48.78%	(b)
EMD	Dec 31		75.61%		-		-		24.39%	(b)

(a) Sources of cumulative fiscal year-to-date distributions are estimated through March 31, 2022.
(b) Sources of cumulative fiscal year-to-date distributions are estimated through May 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, 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).

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/20220216005574/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 in March 2022?

SCD: $0.26000, BWG: $0.09000, EMD: $0.09000.

What are the record dates for the distributions of SCD, BWG, and EMD?

SCD: March 24, BWG: March 24, EMD: March 24.

When will the distributions for March 2022 be payable?

The distributions will be payable starting April 1, 2022.

Can the managed distribution policy of SCD, BWG, and EMD be changed?

Yes, the Board may modify or suspend the managed distribution policy at any time.

What happens if the funds' income is less than their distributions?

The funds may use net assets to cover the difference, which may constitute a return of capital.