Western Asset Emerging Markets Floating Rate Fund Inc. (''EFL'') Announces Distributions for the Months of June, July and August
28 5์ 2008 - 5:15AM
Business Wire
Western Asset Emerging Markets Floating Rate Fund Inc., which is
listed on the New York Stock Exchange under the symbol ๏ฟฝEFL๏ฟฝ,
announced today monthly distributions of $0.0850 per common share
for the months June, July and August 2008. The distribution
schedule appears below: Month ๏ฟฝ Ex-Date ๏ฟฝ Record Date ๏ฟฝ Payable
Date ๏ฟฝ Amount June ๏ฟฝ 06/18/2008 ๏ฟฝ 06/20/2008 ๏ฟฝ 06/27/2008 ๏ฟฝ $0.0850
July 07/16/2008 07/18/2008 07/25/2008 $0.0850 August 08/20/2008
08/22/2008 08/29/2008 $0.0850 Under the terms of the Fund๏ฟฝs managed
distribution policy, the Fund seeks to maintain a consistent
distribution level, stated as a fixed rate per common share per
month, that may be paid in part or in full from net investment
income and realized capital gains, or a combination thereof.
Shareholders should note, however, that if the Fund๏ฟฝs aggregate net
investment income and net realized capital gains are less than the
amount of the new distribution level, the difference will be
distributed from the Fund's assets and will constitute a return of
the shareholder๏ฟฝs capital. A return of capital is not taxable;
rather it reduces a shareholder๏ฟฝs tax basis in his or her shares of
the Fund. The Board of Directors may terminate or suspend the
managed distribution policy at any time. Any such termination or
suspension could have an adverse effect on the market price of the
Fund's shares. Based on the Fund's accounting records, as of the
date of this press release, the Fund estimates that approximately
92.31% of the cumulative fiscal year-to-date distributions through
August 2008 are sourced from net investment income and 7.69% are
sourced from long-term capital gains. The estimated components of
the distribution will be provided to shareholders of record in a
separate notice. Please note that this press release should not be
used for tax reporting purposes and is being provided to announce
the amount of the Fund's distributions that have been declared by
the Board of Directors. In early 2009, 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๏ฟฝs tax return (e.g.,
ordinary income, long-term capital gain or return of capital).
Western Asset Emerging Markets Floating Rate Fund Inc. is a
non-diversified, closed-end management investment company. Legg
Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg
Mason, Inc., serves as the Fund๏ฟฝs investment manager and Western
Asset Management Company, an affiliate of the investment manager,
serves as the Fund๏ฟฝs sub-adviser. Contact the Fund at
1-888-777-0102 for additional information, or consult the Fund๏ฟฝs
web site at www.leggmason.com/cef.
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