Western Asset Investment Grade Defined Opportunity Trust Inc. ("IGI") Sets New Rate and Announces Di
Western Asset Investment Grade Defined Opportunity Trust Inc. ("IGI") Sets New Rate and Announces Distributions for the Months of December 2012, January and February 2013
NEW YORK--(BUSINESS WIRE)-- Western Asset Investment Grade Defined Opportunity Trust Inc. (NYS: IGI) today announced distributions for December 2012, January and February 2013. The December distribution of $0.1000 per common share is comprised entirely of short-term capital gain. Additionally, the Fund announced a supplemental distribution from long-term capital gain of $0.0700 per common share for December 2012. The January distribution of $0.1000 per common share is comprised of $0.0154 of income and $0.0846 of short-term capital gain. The February distribution of $0.1000 per common share is comprised entirely of income. The Fund had previously paid a monthly distribution of $0.1045 per share.
The distribution schedule appears below:
Month | Ex-Date | Record Date | Payable Date | Amount | Type | |||||
December | 12/12/2012 | 12/14/2012 | 12/21/2012 | $0.1000 | Short-Term | |||||
December | 12/12/2012 | 12/14/2012 | 12/21/2012 | $0.0700 | Long-Term | |||||
January | 01/16/2013 | 01/18/2013 | 01/25/2013 | $0.0154 | Income | |||||
January | 01/16/2013 | 01/18/2013 | 01/25/2013 | $0.0846 | Short-Term | |||||
February | 02/13/2013 | 02/15/2013 | 02/22/2013 | $0.1000 | Income |
The Fund has decreased its distributions to a level that better approximates the current level of net investment income generated by its investment portfolio. As the Fund reinvests principal and
income, it reinvests at lower levels as yields remain at historic lows.
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).
Western Asset Investment Grade Defined Opportunity Trust Inc., a non-diversified, limited-term, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.
Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund's web site at www.lmcef.com.
Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.
Western Asset Investment Grade Defined Opportunity Trust Inc.
Media Contact:
Maria Rosati, 212-805-6036
mrosati@leggmason.com
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS:
The article Western Asset Investment Grade Defined Opportunity Trust Inc. ("IGI") Sets New Rate and Announces Distributions for the Months of December 2012, January and February 2013 originally appeared on Fool.com.
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