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Franklin Limited Duration Income Trust reports recurring closed-end fund distribution activity for an income-oriented portfolio. The fund's updates focus on declared monthly distributions under a managed distribution policy, record and payable dates for its common shares, and Section 19(a) notices that estimate distribution sources, including net investment income, realized gains and return of capital.
FTF is described as a closed-end investment company seeking high current income with a secondary objective of capital appreciation through a diversified fixed-income portfolio. News also references NAV-based distribution mechanics, discount-to-NAV considerations for closed-end funds, and periodic portfolio information such as full holdings, top holdings and portfolio statistics.
Franklin Limited Duration Income Trust (FTF) announced the results of its transferable rights offering, issuing approximately 10,250,000 common shares at a subscription price of $7.61, 90% of its net asset value as of February 17, 2022. The offering was over-subscribed, generating gross proceeds of approximately $78 million. Common shares are expected to be issued around February 24, 2022. Investors are advised to consider associated risks, including interest rate movements and bond price fluctuations, before investing.
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FRANKLIN LIMITED DURATION INCOME TRUST (FTF) announced the preliminary results of its transferable rights offering, expected to issue approximately 10,250,000 common shares. The final subscription price was set at $7.61, reflecting 90% of the Fund's net asset value. The offering was over-subscribed, anticipating gross proceeds of around $78 million. Common shares are expected to be issued on February 24, 2022, after completing pro rata allocation and receipt of shareholder payments.
Franklin Limited Duration Income Trust (FTF) announced its estimated sources of distributions for the fiscal year 2021. A distribution of $0.0750 per share is scheduled for February 14, 2022. The net investment income accounts for 51% of this distribution while 49% is categorized as a return of capital. The fund's average annual total return over the previous five years is reported at 2.67%, with an annualized distribution rate of 10.03%. Investors are reminded that the distribution does not directly reflect the fund's investment performance. For tax reporting, actual distribution amounts may vary.
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Franklin Limited Duration Income Trust (FTF) announced its estimated sources of distribution for January 14, 2022, detailing a total distribution of $0.0756 per share. This includes 53% from net investment income and 39% as a return of capital. The Fund's Board authorized a managed distribution plan aiming for a minimum annual rate of 10% based on the average monthly NAV. As of November 30, 2021, FTF's average annual total return was 2.69%, while its annualized distribution rate was 10.16%. Shareholders are cautioned that the distribution does not reflect the Fund's investment performance.
Franklin Limited Duration Income Trust (FTF) announced a transferable rights offering for shareholders to acquire additional common shares. Each shareholder will receive one transferable right for every common share held as of the record date on January 19, 2022. The pricing structure will depend on a formula related to the average sales price of the shares around the expiration date, which is set for February 17, 2022. Additionally, shareholders who fully exercise their rights can subscribe for excess shares. The Fund believes this offering will enhance its asset base and expense efficiency.
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Franklin Limited Duration Income Trust (FTF) has announced the estimated sources of its upcoming distribution set for December 15, 2021. The monthly distribution is $0.0763 per share, comprising $0.0428 (56%) from net investment income, $0.0010 (1%) from short-term capital gains, and $0.0325 (43%) as a return of capital. Cumulative allocations for fiscal year-to-date, ending October 31, 2021, amount to $0.7808 per share. Shareholders should note that a portion of these distributions may represent a return of capital.
Summary not available.