Templeton Emerging Markets Income Fund (“TEI” or the “Fund”) Announces Distribution

Rhea-AI Summary

Templeton Emerging Markets Income Fund (NYSE: TEI) has announced a monthly distribution of $0.0464 per share, payable on April 28, 2023. This distribution is part of the Fund's managed distribution plan, which guarantees a minimum annual distribution rate of 10% based on the average monthly net asset value (NAV) of common shares. The Fund aims to generate distributions primarily from net ordinary income and short-term capital gains.

However, in scenarios where sufficient income is unavailable, the Fund may distribute long-term capital gains or return capital to maintain the distribution rate. Amendments to this plan may occur without notice, potentially impacting the market price of the Fund’s shares. Shareholders are advised that distribution amounts are estimates and will not reflect actual performance for tax purposes.

Positive

• Monthly distribution of $0.0464 per share indicates ongoing income for shareholders.
• Managed distribution plan ensures a minimum annual fixed rate of 10%, providing income stability.
• Fund's strategy focuses on generating distributions from net ordinary income and short-term capital gains.

Negative

• Distributions may include return of capital, which does not reflect investment performance.
• Potential for amendment or termination of the distribution plan without notice could adversely affect market price.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Templeton Emerging Markets Income Fund [NYSE: TEI] today announced a monthly distribution from net investment income of $0.0464 per share, payable on April 28, 2023, to shareholders of record on April 20, 2023 (Ex-Dividend Date: April 19, 2023).

The Fund’s Board of Trustees (the “Board”) has authorized a managed distribution plan pursuant to which the Fund makes monthly distributions to shareholders at an annual minimum fixed rate of 10%, based on the average monthly net asset value (NAV) of the Fund’s common shares (the “Plan”). The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan. The amounts and sources of the Fund’s distributions to be reported will be estimates and will not be provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

For further information on Templeton Emerging Markets Income Fund, please visit our web site at: www.franklintempleton.com

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 75 years of investment experience and approximately $1.4 trillion in assets under management as of February 28, 2023. For more information, please visit franklintempleton.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230410005277/en/

Franklin Templeton, 1-800-342-5236

Source: Franklin Templeton

FAQ

What is the distribution amount for Templeton Emerging Markets Income Fund (TEI) in April 2023?

Templeton Emerging Markets Income Fund (TEI) announced a distribution of $0.0464 per share, payable on April 28, 2023.

When is the ex-dividend date for TEI's April 2023 distribution?

The ex-dividend date for the April 2023 distribution of TEI is April 19, 2023.

What is the purpose of the managed distribution plan for TEI?

The managed distribution plan aims to provide shareholders with a minimum annual distribution rate of 10% based on the average NAV of the Fund's common shares.

Can the managed distribution plan for TEI be amended or terminated?

Yes, the Board may amend or terminate the managed distribution plan at any time without prior notice.

How does Templeton Emerging Markets Income Fund (TEI) generate its distributions?

Distributions are generated primarily from net ordinary income and short-term capital gains. If insufficient income is available, long-term capital gains or return of capital may be distributed.