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TheStreet Open House

Western Asset Closed-End Municipal Bond Funds’ Earnings Data Now Available

The Western Asset closed-end municipal bond funds (the Funds) made additional data available today through its website, www.lmcef.com. The data includes:

  • 3-Month Average Earnings per share. Represents the average monthly net investment income per share over the past three months.
  • 3-Month Average UNII per share. Represents an estimate of the average undistributed net investment Income balance over the past three months.
  • Leverage through ARPS. As a percentage of managed assets (net assets plus the liquidation value of the Auction Rate Preferred Securities (“ARPS”) as of the date indicated above.

The data is provided for the following funds: Western Asset Intermediate Muni Fund Inc. (SBI), Western Asset Managed Municipals Fund Inc. (MMU), Western Asset Municipal Defined Opportunity Trust Inc. (MTT), Western Asset Municipal High Income Fund Inc. (MHF), and Western Asset Municipal Partners Fund Inc. (MNP).

All data as of 12/31/12

 

 

          3-Month Average      
Ticker     Fund Name    

Current

Month

Distribution

 

Earnings per

Share

 

UNII

per Share

   

 

3-Month Average

Earnings/Current

Distribution Ratio

 

Leverage

Through ARPS

SBI Western Asset Intermediate Muni Fund Inc. $0.0400 $ 0.0413   $ 0.2527 103.3% 25.3%
MMU Western Asset Managed Municipals Fund Inc. $0.0650 $ 0.0661 $ 0.4147 101.7% 29.0%
MTT Western Asset Municipal Defined Opportunity Trust Inc. $0.0840 $ 0.0860 $ 0.0787 102.4% N/A
MHF Western Asset Municipal High Income Fund Inc. $0.0330 $ 0.0326 $ (0.0010) 98.8% N/A
MNP     Western Asset Municipal Partners Fund Inc.     $0.0700   $ 0.0750   $ 0.4902     107.1%   34.3%
 

Distributions may be paid from investment income, realized capital gains, return of capital or a combination thereof. The distribution amount is subject to change and is not a quotation of Fund performance. For more information about a distribution’s composition refer to the Fund’s distribution press release or, if applicable, the Section 19 notice located in the press release section of our website, www.lmcef.com. For more information, including current performance to most current month end, please visit www.lmcef.com or call 1-888-777-0102.

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund’s distributions that have been declared by the Board of Directors. In early 2013 and early 2014, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

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