Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy

NEW YORK--()--Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared distributions pursuant to their managed distribution policy.

The following dates apply to the distribution schedule below:

                         
Month       Record Date       Ex-Dividend Date       Payable Date
June       6/19/2015       6/17/2015       6/26/2015
July       7/24/2015       7/22/2015       7/31/2015
August       8/21/2015       8/19/2015       8/28/2015
September†       9/18/2015       9/16/2015       9/25/2015
October†       10/23/2015       10/21/2015       10/30/2015
                 
                     
Ticker       Fund Name       Month       Amount      

Change
from
Previous
Distribution

SCD LMP Capital and Income Fund Inc.1 June $0.28000 a -
                                 
BWG Legg Mason BW Global Income Opportunities Fund Inc. 1

Monthly:

June $0.13000 -
July $0.13000
August $0.13000
September† $0.13000
October† $0.13000

 

Special*:

June $0.34000 *
                                 
ESD Western Asset Emerging Markets Debt Fund Inc. 1 June $0.10500 b ($0.01000)
July $0.10500
                August       $0.10500        
EMD Western Asset Emerging Markets Income Fund Inc. 1 June $0.21000 a,b ($0.02000)
                                 
SBW Western Asset Worldwide Income Fund Inc. 1 June $0.07250 b ($0.00750)
July $0.07250
                August       $0.07250        
 
 
a Quarterly paying distribution.
b In declaring the new rate, the Fund cited a decrease in the net investment income generated by its investment portfolio and a decrease in the amount of capital gains available to augment the distribution.
Dates apply to BWG only.
*

Special distribution for June 2015 of $0.34000 is in addition to the regular monthly distribution of $0.13000.

 

The following dates apply to the distribution schedule below:

                         
Month       Record Date       Ex-Dividend Date       Payable Date
July       7/24/2015       7/22/2015       7/31/2015
August       8/21/2015       8/19/2015       8/28/2015
September       9/18/2015       9/16/2015       9/25/2015
                 
                       
Ticker       Fund Name       Month       Amount      

Change
from
Previous
Distribution

RIT LMP Real Estate Income Fund Inc. 1 July $0.06000 -
August $0.06000
                September       $0.06000        
 
 
1 Please see table below for each Fund’s estimated source of distributions.
 

Under the terms of each Fund’s managed distribution policy, the Fund seeks to maintain a consistent distribution level derived from the income and capital gains generated from the Fund’s investment portfolio. Shareholders should note that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distributions paid, the difference will be distributed from the Fund's assets and may constitute a return of the shareholder’s capital. The Board of Directors 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 Fund’s shares.

The Fund’s distributions have been set based on the current level of income generated from the Fund’s investment portfolio and accumulated capital gains, if any. Based on the Fund's 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

     
SCD       Nov 30       50.47%       -       -       49.53%     c
BWG       Oct 31       53.36%       15.17%       31.47%       -     d
ESD       Dec 31       82.03%       -       -       17.97%     e
EMD       May 31       40.48%       -       -       59.52%     c
SBW       Dec 31       74.43%       -       -       25.57%     e
RIT       Dec 31       85.67%       -       -       14.33%     f
 
 
c Sources of cumulative fiscal year-to-date distributions are estimated through June 30, 2015.
d Sources of cumulative fiscal year-to-date distributions are estimated through October 31, 2015.
e Sources of cumulative fiscal year-to-date distributions are estimated through August 31, 2015.
f Sources of cumulative fiscal year-to-date distributions are estimated through September 30, 2015.
 

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 Directors. In early 2016, 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).

Contact the Funds at 1-888-777-0102 for additional information, or consult the Funds’ web site at www.lmcef.com.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Funds.

Contacts

Media:
Legg Mason Partners Fund Advisor, LLC
Maria Rosati, 212-805-6036
mrosati@leggmason.com

Contacts

Media:
Legg Mason Partners Fund Advisor, LLC
Maria Rosati, 212-805-6036
mrosati@leggmason.com