Templeton Emerging Markets Income Fund (“TEI” or the “Fund”) Announces Distribution
07 Dezember 2022 - 8:58PM
Business Wire
Templeton Emerging Markets Income Fund (NYSE: TEI) today
announced a monthly distribution from net investment income of
$0.0439 per share, payable on December 30, 2022, to shareholders of
record on December 19, 2022 (Ex-Dividend Date: December 16,
2022).
The Fund’s Board of Trustees (the “Board”) has authorized a
managed distribution plan pursuant to which the Fund makes monthly
distributions to shareholders at an annual minimum fixed rate of
10%, based on the average monthly net asset value (NAV) of the
Fund’s common shares (the “Plan”). The Fund calculates the average
NAV from the previous month based on the number of business days in
the month on which the NAV is calculated. The Plan is intended to
provide shareholders with a constant, but not guaranteed, fixed
minimum rate of distribution each month and is intended to narrow
the discount between the market price and the NAV of the Fund’s
common shares, but there can be no assurance that the Plan will be
successful in doing so. The Fund is managed with a goal of
generating as much of the distribution as possible from net
ordinary income and short-term capital gains, that is consistent
with the Fund’s investment strategy and risk profile. To the extent
that sufficient distributable income is not available on a monthly
basis, the Fund will distribute long-term capital gains and/or
return of capital in order to maintain its managed distribution
rate. A return of capital may occur, for example, when some or all
of the money that was invested in the Fund is paid back to
shareholders. A return of capital distribution does not necessarily
reflect the Fund’s investment performance and should not be
confused with “yield” or “income.” Even though the Fund may realize
current year capital gains, such gains may be offset, in whole or
in part, by the Fund’s capital loss carryovers from prior
years.
The Board may amend the terms of the Plan or terminate the Plan
at any time without prior notice to the Fund’s shareholders. The
amendment or termination of the Plan could have an adverse effect
on the market price of the Fund’s common shares. The Plan will be
subject to the periodic review by the Board, including a yearly
review of the annual minimum fixed rate to determine if an
adjustment should be made.
Shareholders should not draw any conclusions about the Fund’s
investment performance from the amount of this distribution or from
the terms of the Plan. The amounts and sources of the Fund’s
distributions to be reported will be estimates and will not be
provided for tax reporting purposes. The actual amounts and sources
of the amounts for tax reporting purposes will depend upon the
Fund’s investment experience during the remainder of its fiscal
year and may be subject to changes based on tax regulations. The
Fund will send a Form 1099-DIV to shareholders for the calendar
year that will describe how to report the Fund’s distributions for
federal income tax purposes.
For further information on Templeton
Emerging Markets Income Fund, please visit our web site
at: www.franklintempleton.com
Franklin Resources, Inc. is a global investment management
organization with subsidiaries operating as Franklin Templeton and
serving clients in over 155 countries. Franklin Templeton’s mission
is to help clients achieve better outcomes through investment
management expertise, wealth management and technology solutions.
Through its specialist investment managers, the company offers
boutique specialization on a global scale, bringing extensive
capabilities in equity, fixed income, multi-asset solutions and
alternatives. With offices in more than 30 countries and
approximately 1,300 investment professionals, the California-based
company has 75 years of investment experience and approximately
$1.3 trillion in assets under management as of October 31, 2022.
For more information, please visit franklintempleton.com.
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Franklin Templeton 1-800-342-5236
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