LMP Capital and Income Fund Inc. (“SCD”) Announces Quarterly Distribution for March 2009
09 2월 2009 - 10:00PM
Business Wire
LMP Capital and Income Fund Inc., which is listed on the New
York Stock Exchange under the symbol "SCD," today announced a
quarterly distribution of $0.1300 per common share payable in March
2009.
The distribution schedule appears below:
Month � � �
Ex-Date � � �
Record Date � � �
Payable Date � � �
Amount March � � � 03/18/2009 � �
� 03/20/2009 � � � 03/27/2009 � � � $0.1300
The Board of Directors of the Fund has approved an annual
distribution rate for the 2009 calendar year of a minimum of
approximately 5% of the net asset value of the Fund as of the close
of trading on December 31, 2008. Based on the Fund�s net asset
value of $10.09 per share as of the close of trading on December
31, 2008, this equates to a quarterly distribution rate of $0.1300
per share for calendar year 2009. The Fund may make additional
distributions as necessary to meet certain tax requirements.
When it previously announced the changes to the managed
distribution policy, Fund management stated that it believes that
these changes will provide the investment manager with greater
flexibility in managing the Fund�s assets, and that payment of
quarterly distributions will better match the cash flows (quarterly
dividends for common equities and semi-annual interest payments
from fixed income investments) of securities held in the Fund�s
portfolio. Additionally, the Fund believes it will realize
incremental cost savings from providing investors with required
shareholder notices (�Section 19 Notices�) on the source of
distributions quarterly rather than monthly as was its
practice.
The Fund also cited the deteriorating economic environment and
the decline in equity and fixed income valuations during the past
year, which accelerated beginning in the second half of 2008. These
declines led to a reduction in the level of capital gains and
income available from the Fund�s equity and fixed income
investments. Whereas the Fund�s distribution strategy previously
encompassed a combination of net investment income and potential
short-term and long-term capital gains, the current environment
makes it more likely that future distributions will rely less
heavily on a capital gains component and more on net investment
income generated by the portfolio.
Under the terms of the Fund's revised managed distribution
policy, the Fund will seek to maintain a consistent quarterly
distribution level stated as a fixed percentage of its December 31,
2008 net asset value per share, 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's aggregate net investment income and net realized capital
gains are less than the amount of the quarterly distribution level,
the difference will be distributed from the Fund's assets and will
constitute a return of the shareholder's capital. A return of
capital is not taxable as a dividend; rather it reduces a
shareholder's tax basis in his or her shares of the Fund with any
balance in excess of the tax basis treated as a capital gain.
The Board of Directors may reduce the Fund's quarterly
distribution rate in the future or terminate or suspend the managed
distribution policy at any time. Any such reduction in the
quarterly distribution rate, 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 100% of the
cumulative distributions through March 31, 2009 are sourced from
net investment income. The estimated components of each
distribution will be provided to shareholders of record in a
separate notice.
Please note that neither this press release nor the separate
notice should be used for tax reporting purposes and that each is
being provided to announce the amount and estimated source of the
Fund's distributions that have been declared by the Board of
Directors. In early 2010, 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).
LMP Capital and Income 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's investment manager and is sub-advised by ClearBridge
Advisors, LLC, and Western Asset Management Company, affiliates of
the investment manager.
Contact the Fund at 1-888-777-0102 for additional information,
or consult the Fund�s web site at www.leggmason.com/cef.
LMP Capital and Income (NYSE:SCD)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
LMP Capital and Income (NYSE:SCD)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024