ClearBridge MLP and Midstream Fund Inc - CEM STOCK NEWS

ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) reported its unaudited assets and liabilities, net asset value, and asset coverage ratio as of March 31, 2024. The Fund's net assets stood at $658.2 million, with a net asset value per share of $49.51. The asset coverage ratio for senior indebtedness was 459%, and for total leverage, it was 356%. Top ten equity holdings included Energy Transfer LP, ONEOK Inc., and MPLX LP.

ClearBridge MLP and Midstream Fund Inc. (CEM) reported its unaudited financial data as of February 29, 2024. The Fund's net assets were $609.6 million, with a net asset value per share of $45.86. The asset coverage ratio for senior indebtedness was 434%, and for total leverage, it was 337%. The Fund's top ten equity holdings accounted for 74.4% of total investments.

ClearBridge MLP and Midstream Fund Inc. (CEM) announced unaudited financial data as of January 31, 2024. The net assets were $584.6 million, net asset value per share was $43.97, and asset coverage ratio was 422% for senior indebtedness and 328% for total leverage. The top ten equity holdings accounted for 73.4% of total equity investments.

The press release announces the approval by the Board of Directors of ClearBridge MLP and Midstream Fund Inc. (CEM), ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), and ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) to merge CEM with and into EMO and CTR with and into EMO. The proposed mergers are expected to occur during the third quarter of 2024 and are subject to stockholder approval. If approved, common stockholders of CEM and CTR will receive shares of common stock of EMO based on each Fund’s respective net asset value (NAV) per share, and holders of CEM’s and CTR’s mandatory redeemable preferred stock (MRPS) will receive shares of MRPS of EMO with the same aggregate liquidation preference and terms to their respective MRPS. The management and each Fund’s Board of Directors believe that the merger will result in lower operating expenses, enhanced earning potential, and greater trading volume. The merger is expected to qualify as a tax-free reorganization for federal income tax purposes. In connection with the proposal to merge, the Funds intend to file a combined proxy statement and prospectus with the SEC, and investors and stockholders are advised to read the proxy statement and prospectus when it becomes available.

Franklin Templeton Fund Adviser, LLC announced the February 2024 distributions for certain closed-end funds, including ClearBridge MLP and Midstream Fund Inc. (CEM), ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), and ClearBridge MLP and Midstream Total Return Fund Inc. (CTR). The distributions may be treated as dividend income, return of capital, or a combination thereof for tax purposes. Stockholders will receive a Form 1099-DIV in early 2025 for tax reporting purposes.

ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) announced its unaudited statement of assets and liabilities, net asset value, and asset coverage ratio as of December 31, 2023. The Fund's net assets were $576.4 million, with a net asset value per share of $43.36. The asset coverage ratio under the Investment Company Act of 1940 was 418% for senior indebtedness and 324% for total leverage. The Fund's top ten equity holdings accounted for 74.4% of total equity investments.

ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) announced unaudited financial data as of November 30, 2023. The Fund's net assets were $589.4 million, with a net asset value per share of $44.33. The asset coverage ratio under the 1940 Act with respect to senior indebtedness was 424%, and with respect to total leverage was 329%. The top ten equity holdings accounted for 73.3% of total equity investments.

Franklin Resources, Inc. (Ticker: BEN) Announces November 2023 Distribution Schedule for Certain Closed End Funds; ClearBridge MLP and Midstream Fund Inc. (Ticker: CEM) Declares $0.7700, ClearBridge Energy Midstream Opportunity Fund Inc. (Ticker: EMO) Declares $0.6500, ClearBridge MLP and Midstream Total Return Fund Inc. (Ticker: CTR) Declares $0.7000

ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) reported unaudited financials as of October 31, 2023, with net assets at $546.6 million and net asset value per share at $41.11. The fund's asset coverage ratios under the 1940 Act were 403% for senior indebtedness and 313% for total leverage. The top ten equity holdings represented 69.7% of total equity investments.