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LMP Capital and Income Fund (NYSE: SCD) released an announcement regarding the sources of its distributions slated for July 1, 2024. The fund disclosed estimated allocations for the June monthly distribution, noting that a significant portion (78.42%) comprises net realized long-term capital gains, with the rest from net investment income (10.05%) and net realized short-term capital gains (11.52%). No return of capital was reported. For the fiscal year-to-date, the distribution per share is $0.6780, with similar allocation percentages. Notably, SCD has distributed more than its income and net realized capital gains, which could imply a return of capital. This distribution does not necessarily reflect fund performance. Performance metrics include a 5-year average annual total return of 12.35% and a cumulative total return of 14.45% for the fiscal period through May 31, 2024. The managed distribution policy allows for regular monthly payouts, potentially including returns of capital. Investors will receive Form 1099-DIV for tax purposes.
Effective June 3, 2024, LMP Capital and Income Fund (NYSE: SCD) will have a new portfolio management team overseeing its day-to-day operations. The team includes Peter Vanderlee, Patrick McElroy, Tatiana Thibodeau Eades from ClearBridge, and Michael Buchanan, Ryan Brist, Christopher Kilpatrick, and Mark Lindbloom from Western Asset. Chia-Liang (CL) Lian will no longer serve as a portfolio manager for the Fund. Investors are reminded that shares of the Fund, traded on the NYSE, can fluctuate in value due to market conditions and may be worth more or less than the original investment.
LMP Capital and Income Fund (NYSE: SCD) has announced the estimated sources of its distribution set for June 3, 2024. As of April 30, 2024, the fund's distribution per share is $0.1130, with allocations of 9.05% from net investment income, 11.69% from net realized short-term capital gains, and 79.26% from net realized long-term capital gains.
Year-to-date cumulative distribution per share stands at $0.5650 with the same percentage allocations. The fund noted that it has distributed more than its income and net realized capital gains, indicating a portion of the distribution may be a return of capital.
Performance metrics include an average annual total return of 9.87% over five years, an annualized distribution rate of 8.65%, and a cumulative total return of 9.08% for the fiscal period up to April 30, 2024.
The distributions are made under a managed distribution policy and may include income, realized gains, or a return of capital. The policy aims to provide regular monthly distributions, but changes could affect the fund's market price.
Franklin Templeton Fund Adviser announced distributions for several closed-end funds for June, July, and August 2024. Each fund, including BrandywineGLOBAL (BWG), LMP Capital and Income Fund (SCD), and Western Asset Emerging Markets Debt Fund (EMD), will distribute monthly payments. BWG will distribute $0.08000 per month, SCD $0.11300, and EMD $0.08450. The managed distribution policy aims to provide consistent payouts from income and capital gains. When insufficient income exists, funds may return capital to shareholders. Adjustments to this policy can impact fund share prices. The estimated fiscal distribution sources up to August 31, 2024, show varying proportions of income, capital gains, and return of capital for each fund. Shareholders will receive official tax reporting documentation through Form 1099-DIV.
LMP Capital and Income Fund Inc. (SCD) has announced the notification of sources of distributions for the upcoming period. The estimated distributions and sources for the fiscal year 2024, up to March 31, 2024, have been detailed, including net investment income, capital gains, and return of capital. Shareholders are advised not to judge the Fund's performance solely based on the distribution amount as it may include a return of capital. The Fund's managed distribution policy aims to provide long-term total return potential through regular monthly distributions, with the possibility of distributions being paid from various sources including net investment income, capital gains, or returned capital. The Board of Directors retains the right to modify or pause the managed distribution policy, impacting the market price of the Fund's shares.
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