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Western Asset Investment Grade Income Fund (NYSE: PAI) released its financial status as of March 31, 2024. Total net assets were $123.7 million, slightly down from $124.7 million in the previous quarter but up from $121.5 million last year. The NAV per share was $13.01, a decrease from $13.11 in Q4 2023 but an increase from $12.78 in Q1 2023. The market price per share was $12.19, reflecting a 6.30% discount to NAV.
The fund's total net investment income was $1.49 million, down from $1.59 million in the previous quarter, but higher than $1.46 million a year ago. Net realized/unrealized loss was $1.06 million compared to gains of $8.93 million last quarter and $1.95 million in Q1 2023. The net increase in net assets from operations was $431,965, a sharp drop from $10.52 million last quarter and $3.41 million last year.
Earnings per share were $0.05, down from $1.11 in Q4 2023 and $0.35 in Q1 2023. Undistributed net investment income per share was $0.11, compared to $0.10 last quarter and $0.07 in Q1 2023.
Franklin Templeton Fund Adviser, has announced the distribution schedules for its closed-end funds for June, July, and August 2024. The Western Asset Investment Grade Income Fund (PAI) will distribute $0.05150 per share for each month, with an increase of $0.00250 from the previous distribution in June. The Western Asset Premier Bond Fund (WEA) will distribute $0.07000 per share monthly, with no changes from previous distributions. The record and ex-dividend dates are June 21, July 24, and August 23, 2024, with payable dates on July 1, August 1, and September 3, 2024, respectively. This announcement is informational and not for tax reporting purposes. Detailed tax information will be provided in early 2025 via Form 1099-DIV.
