ClearBridge Energy MLP Opportunity Fund Inc. (“EMO”) Announces Quarterly Distribution Rate for August 2013
ClearBridge Energy MLP Opportunity Fund Inc. (NYSE: EMO) today announced
a quarterly distribution of $0.3400 per common share payable in August
2013. The amount is unchanged from prior quarter.
The distribution schedule appears below:
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Month
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Ex-Date
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Record Date
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Payable Date
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Amount
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August
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08/21/2013
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08/23/2013
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08/30/2013
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$0.3400
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It is currently anticipated that substantially all of this distribution
will be treated for tax purposes as a return of capital. The final
determination of such amount will be made in early 2014 when the Fund
can determine its earnings and profits. The final tax status of the
distribution may differ substantially from this preliminary information.
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 2014, after definitive
information is available, the Fund will send stockholders 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 stockholder’s tax return (e.g.,
ordinary income, long-term capital gain or return of capital).
The types of MLPs in which the Fund invests historically have made cash
distributions to limited partners or members that exceed the amount of
taxable income allocable to limited partners or members, due to a
variety of factors, including significant non-cash deductions, such as
depreciation and depletion. If the cash distributions exceed the taxable
income reported in a particular tax year, the excess cash distributions
would not be taxed as income to the Fund in that tax year but rather
would be treated as a return of capital for United States federal income
tax purposes to the extent of the Fund’s basis in its MLP units.
Similarly, the Fund expects to distribute cash in excess of its earnings
and profits to holders of Common Stock (the “Common Stockholders”) which
may be treated as a return of capital to the extent of the Common
Stockholders’ bases in the Fund’s Common Stock. As a result, the Fund’s
Common Stockholders should expect to receive distributions that are
generally tax-deferred and represent a return of capital although no
assurance can be given in this regard. This will result in a reduction
in basis in their shares, which may increase the capital gain, or reduce
capital loss, realized upon sale of such shares.
ClearBridge Energy MLP Opportunity Fund Inc. is a non-diversified,
closed-end management investment company which is advised by Legg Mason
Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge
Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are wholly owned
subsidiaries of Legg Mason, Inc. (“Legg Mason”).
For more information, please contact the Fund at 1-888-777-0102 or visit
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.
Copyright Business Wire 2013