Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed-End Funds Pursuant to their Managed Distribution Policy for the Months of June, July, August, September, October, and November 2021
Legg Mason Partners Fund Advisor announced distributions for closed-end funds WIA and WIW under their managed distribution policy for June to November 2021. The distribution amounts vary by month, with WIA's August distribution comprising a regular amount of $0.03400 and a special distribution of $0.11400. For WIW, the October and November distributions will be declared in a future board meeting. The press release also mentions the policy may lead to returns of capital if the funds' income is insufficient for the distributions.
- WIA announced a special distribution of $0.11400 in addition to the regular $0.03400 for August 2021.
- Regular distributions indicate a steady income stream from the funds' investment portfolios.
- The potential return of capital may negatively impact the market price of the funds' shares.
- The October and November distributions for WIW have not been finalized, indicating uncertainty.
Legg Mason Partners Fund Advisor, LLC announced today that certain closed-end funds have declared their distributions pursuant to their managed distribution policy for the months of June, July, August, September, October, and November 2021.
The following dates apply to the distribution schedule below:
Month |
Record Date |
Ex-Dividend Date |
Payable Date |
||||||
June |
6/23/2021 |
6/22/2021 |
6/30/2021 |
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July |
7/23/2021 |
7/22/2021 |
7/30/2021 |
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August |
8/24/2021 |
8/23/2021 |
8/31/2021 |
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September |
9/23/2021 |
9/22/2021 |
9/30/2021 |
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October |
10/22/2021 |
10/21/2021 |
10/29/2021 |
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November |
11/22/2021 |
11/19/2021 |
11/30/2021 |
Ticker |
Fund Name |
Month |
Amount |
|
Change from Previous Distribution |
|
WIA |
Western Asset Inflation-Linked Income Fund |
June |
|
|
||
|
|
July |
|
|
|
|
|
|
August |
|
(a) |
|
|
|
|
September |
|
|
|
|
|
|
October |
|
|
|
|
November |
|
|
||||
WIW |
Western Asset Inflation-Linked Opportunities & Income Fund** |
June |
|
|
||
|
July |
|
|
|
||
|
|
August |
|
|
|
|
September |
|
|
-
Western Asset Inflation-Linked Income Fund’s (WIA) August distribution of
$0.14 800 per share is composed of the regular monthly distribution of$0.03 400 per share and a special distribution of$0.11 400 per share.
**The October and November distributions for the Western Asset Inflation-Linked Opportunities & Income Fund (WIW) will be declared at the next board meeting.
Pursuant to its managed distribution policy, each Fund intends to make regular monthly distributions to shareholders at a fixed rate per common share, which rate may be adjusted from time to time by the Fund’s Board of Trustees. Under each Fund’s managed distribution policy, if, for any monthly distribution, the value of the Fund’s net investment income and net realized capital gain is less than the amount of the distribution, the difference will be distributed from the Fund’s net assets (and may constitute a “return of capital”). The Board of Trustees 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 Funds’ shares.
The Funds’ distributions have been set based on the current level of income generated from the Funds’ 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 |
|
WIA |
Nov 30 |
|
|
|
|
|
|
|
- |
(a) |
WIW |
Nov 30 |
|
|
|
|
|
|
|
- |
(b) |
- Sources of cumulative fiscal year-to-date distributions are estimated through November 30, 2021.
- Sources of cumulative fiscal year-to-date distributions are estimated through September 30, 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 Trustees. 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).
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’ 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/20210526005511/en/
FAQ
What are the distribution amounts for WIA for August 2021?
When will the October and November distributions for WIW be declared?
What is the impact of the managed distribution policy on the funds?
What is the distribution schedule for WIA and WIW?
