Western Asset Diversified Income Fund Announces Financial Position as of March 31, 2024
Western Asset Diversified Income Fund (NYSE: WDI) released its financial results for the quarter ending March 31, 2024. The Fund's total assets were $1.204 billion, up from $1.192 billion in the previous quarter and $1.195 billion a year ago. Total net assets rose to $813.2 million from $804.7 million last quarter and $781.5 million the previous year. The NAV per share increased to $15.70 from $15.54 last quarter and $15.09 last year, while the market price per share grew to $14.45 from $14.10 last quarter and $13.30 last year. Despite these gains, the premium/discount rate remained negative at -7.96%. The total net investment income for the quarter was $22.8 million, with realized/unrealized gains of $8 million, leading to a net increase in net assets from operations of $30.8 million. Earnings per share were $0.59, down from $1.06 last quarter. The Fund's loan outstanding remained at $358 million.
- Total assets increased to $1.204 billion, up from $1.192 billion in the previous quarter and $1.195 billion a year ago.
- Total net assets rose to $813.2 million from $804.7 million last quarter and $781.5 million the previous year.
- NAV per share increased to $15.70 from $15.54 last quarter and $15.09 last year.
- Market price per share grew to $14.45 from $14.10 last quarter and $13.30 last year.
- Total net investment income for the quarter was $22.8 million, up from $22.3 million last quarter and $21.3 million last year.
- Undistributed net investment income increased to $19.4 million from $18.9 million last quarter.
- The premium/discount rate remained negative at -7.96%.
- Net realized/unrealized gains decreased to $8 million from $32.5 million last quarter and $16.7 million last year.
- Net increase in net assets from operations was $30.8 million, down from $54.7 million last quarter and $38 million last year.
- Earnings per share were $0.59, down from $1.06 last quarter and $0.73 last year.
- Loan outstanding remained high at $358 million.
| Current Q | Previous Q | Prior Yr Q | |||||||||
| March 31, 2024 | December 31, 2023 | March 31, 2023 | |||||||||
Total Assets (a) |
$ |
1,204,318,763 |
|
$ |
1,191,882,296 |
|
$ |
1,195,245,833 |
|
||
Total Net Assets (a) |
$ |
813,242,125 |
|
$ |
804,707,720 |
|
$ |
781,459,469 |
|
||
| NAV Per Share of Common Stock (b) | $ |
15.70 |
|
$ |
15.54 |
|
$ |
15.09 |
|
||
| Market Price Per Share | $ |
14.45 |
|
$ |
14.10 |
|
$ |
13.30 |
|
||
| Premium / (Discount) |
|
(7.96 |
)% |
|
(9.27 |
)% |
|
(11.86 |
)% |
||
| Outstanding Shares |
|
51,788,210 |
|
|
51,788,210 |
|
|
51,788,210 |
|
||
| Total Net Investment Income (c)(d) | $ |
22,786,897 |
|
$ |
22,296,323 |
|
$ |
21,295,150 |
|
||
| Total Net Realized/Unrealized Gain/(Loss) (c) | $ |
7,990,544 |
|
$ |
32,450,268 |
|
$ |
16,696,378 |
|
||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ |
30,777,441 |
|
$ |
54,746,591 |
|
$ |
37,991,528 |
|
||
| Earnings per Common Share Outstanding | |||||||||||
| Total Net Investment Income (c) | $ |
0.44 |
|
$ |
0.43 |
|
$ |
0.41 |
|
||
| Total Net Realized/Unrealized Gain/(Loss) (c) | $ |
0.15 |
|
$ |
0.63 |
|
$ |
0.32 |
|
||
| Net Increase (Decrease) in Net Assets From Operations (c) | $ |
0.59 |
|
$ |
1.06 |
|
$ |
0.73 |
|
||
| Undistributed/(Overdistributed) Net Investment Income (d) | $ |
19,419,682 |
|
$ |
18,875,821 |
|
$ |
11,146,295 |
|
||
| Undistributed/(Overdistributed) Net Investment Income | |||||||||||
| Per Share (d) | $ |
0.37 |
|
$ |
0.36 |
|
$ |
0.22 |
|
||
| Loan Outstanding (d) | $ |
358,000,000 |
|
$ |
358,000,000 |
|
$ |
358,000,000 |
|
||
| Reverse Repurchase Agreements (d) | $ |
12,519,742 |
|
$ |
12,519,742 |
|
$ |
20,294,333 |
|
||
Footnotes: |
|
(a) |
The difference between total assets and total net assets is due primarily to the Fund’s use of borrowings; total net assets do not include borrowings. |
(b) |
NAVs are calculated as of the close of business on the last business day in the periods indicated above. |
(c) |
For the quarter indicated. |
(d) |
As of the period indicated above. |
This financial data is unaudited.
The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Forms N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.
Western Asset Diversified Income Fund, a diversified, closed-end management investment company, is advised by Franklin Templeton Fund Adviser, LLC (“FTFA”) (formerly known as Legg Mason Partners Fund Advisor, LLC) and sub-advised by Western Asset Management Company, LLC (“Western Asset”), an affiliate of the investment manager.
For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s 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 Fund.
Category: Financials
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds
View source version on businesswire.com: https://www.businesswire.com/news/home/20240523222078/en/
Investor Contact: Fund Investor Services 1-888-777-0102
Source: Franklin Resources, Inc. and Legg Mason Closed End Funds
FAQ
What are the financial highlights for Western Asset Diversified Income Fund as of March 31, 2024?
How did WDI's total net investment income perform in the current quarter?
What was WDI's net increase in net assets from operations for Q1 2024?
What is the NAV per share of WDI as of March 31, 2024?
What is the market price per share of WDI as of March 31, 2024?
What is the premium/discount rate for WDI as of March 31, 2024?
What is WDI's loan outstanding as of March 31, 2024?
