TCW Strategic Income Fund Announces Year End Distribution

Rhea-AI Summary

TCW Strategic Income Fund (NYSE: TSI) announced a year-end distribution of $0.0382 per share, payable to shareholders of record on December 31, 2020, with a payment date of January 8, 2021. This distribution is entirely from net investment income. The Board of Directors, which approved the distribution policy in December 2013, will continue to monitor dividend conditions and has discretion to modify or terminate the policy. Currently, TSI has net assets of approximately $280 million.

Positive

• Year-end distribution of $0.0382 per share demonstrates commitment to return capital to shareholders.
• Fund has approximately $280 million in net assets, indicating a stable asset base.

Negative

• Distribution amount is solely from net investment income, with no short- or long-term capital gains, which may indicate limited growth prospects.

TCW Strategic Income Fund, Inc. (NYSE: TSI) today announced a year-end distribution of $0.0382 per share payable to shareholders of record on December 31, 2020, with the payable date of January 8, 2021. The distribution includes $0.0382 from net investment income, $0.0000 from short-term gain, and $0.0000 from long-term capital gain.

The distribution is based on a policy that was approved by the Board of Directors in December 2013 which was to pay distributions out of the Fund’s accumulated net investment income and/or other sources subject to the requirements of the Investment Company Act of 1940, as amended, and Sub-chapter M of the Internal Revenue Code. The Directors will regularly monitor conditions and circumstances relating to the distribution of dividends and make such changes as they, in consultation with the Fund’s portfolio managers, deem appropriate. Distribution policy is a matter of Board discretion and may be modified or terminated at any time without prior notice.

TSI is a closed-end fund listed on the New York Stock Exchange. The Fund began operations in March 1987 and currently has net assets of approximately $280 million.

About The TCW Group

TCW is a leading global asset management firm with a broad range of products across fixed income, equities, emerging markets and alternative investments. With more than four decades of investment experience, TCW today manages approximately $235 billion in client assets. Through the MetWest Funds and TCW Funds families, TCW manages one of the largest mutual fund complexes in the U.S. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit www.tcw.com.

Various matters discussed in this news release constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected or contemplated by these forward-looking statements due to a number of factors, including general economic conditions, overall availability of certain types of securities for investment by the Fund, the level of volatility in the securities markets and in the share price of the Fund, and other risk factors outlined in the Fund’s SEC Filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201217006052/en/

FAQ

What is the year-end distribution amount for TSI in 2020?

The year-end distribution amount for TSI in 2020 is $0.0382 per share.

When is the payable date for TSI's year-end distribution in 2020?

The payable date for TSI's year-end distribution in 2020 is January 8, 2021.

What are the sources of the year-end distribution for TSI?

The year-end distribution for TSI is from net investment income, with no contributions from short- or long-term capital gains.

How much net assets does TCW Strategic Income Fund (TSI) currently have?

TCW Strategic Income Fund (TSI) currently has approximately $280 million in net assets.

What is the distribution policy for TCW Strategic Income Fund (TSI)?

The distribution policy for TSI, approved in December 2013, allows distributions from accumulated net investment income and is subject to the Board's discretion.