NEW YORK--(BUSINESS WIRE)--Western Asset Mortgage Defined Opportunity Fund Inc. (NYSE: DMO) announced today monthly distributions of $0.1500 per common share for September, October and November 2011. The Fund had previously paid a monthly distribution of $0.1400 per share since its initial distribution in May 2010 following its initial public offering in February 2010.
The distribution schedule appears below:
|
Month |
Ex-Date |
Record Date |
Payable Date |
Amount |
Type |
|||||||||||||||||
| September | 09/21/2011 | 9/23/2011 | 9/30/2011 | $0.1500 | Income | |||||||||||||||||
| October | 10/19/2011 | 10/21/2011 | 10/28/2011 | $0.1500 | Income | |||||||||||||||||
| November | 11/16/2011 | 11/18/2011 | 11/25/2011 | $0.1500 | Income |
The Fund has increased its distributions to a level that better approximates the current level of net investment income generated by its investment portfolio. In the opinion of the Fund’s sub-adviser, the Fund’s investments in non-agency mortgages continue to generate high levels of income.
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 2012, 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 Mortgage Defined Opportunity Fund Inc., a non-diversified, limited-term, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC (“LMPFA”), a wholly-owned subsidiary of Legg Mason, Inc. (“Legg Mason”), and is sub-advised by Western Asset Management Company (“Western Asset”), an affiliate of the investment manager. Wilshire Associates Incorporated, a registered investment adviser unaffiliated with Legg Mason, LMPFA or Western Asset, is the Fund’s Allocation Subadviser.
Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund’s web site at www.leggmason.com/cef.
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.