NEW YORK--(BUSINESS WIRE)--Western Asset Middle Market Income Fund Inc. (NASDAQ:XWMFX) declares its initial distribution of $18.50 per common share, payable December 24, 2014. This distribution is the first declared by the Fund following the close of its offering in August 2014. The Fund intends to make ongoing quarterly cash distributions of its net investment income. Distributions are not guaranteed and are subject to change.
The distribution schedule appears below:
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The Fund’s primary investment objective is to provide high income. As a secondary investment objective, the Fund seeks capital appreciation. There can be no assurance the Fund will achieve its investment objectives.
The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its Managed Assets in securities, including loans, issued by middle market companies. For investment purposes, “middle market” refers to companies with annual revenues of between $100 million and $1 billion at the time of investment by the Fund.
This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund’s distribution that has been declared by the Board of Directors. In early 2015, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the 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).
Western Asset Middle Market Income Fund Inc., a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.
Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund’s website at www.lmcef.
Data and commentary provided in this press release are for informational purposes only.