Templeton Emerging Markets Income Fund [NYSE: TEI] today announced a monthly distribution from net investment income of $0.0506 per share, payable on July 31, 2020, to shareholders of record on July 15, 2020 (Ex-Dividend Date: July 14, 2020).
As reported in recent news media, on June 19, 2020, the Republic of Argentina announced an extension of its offer to holders of certain eligible bonds to exchange such bonds for new bonds. The Republic’s offer now expires on July 24, 2020 (unless further extended or terminated), with an effective/settlement date of July 30, 2020, or as early as practicable thereafter. The Fund holds three eligible bonds (total value of $55 Million, representing 3.54% of the Fund’s NAV as of March 31, 2020). When the exchange occurs, the Fund will reflect the characteristics of the new bonds, including the impact to the Fund’s distribution, in the coming months.
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating, together with its subsidiaries, as Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes, including equity, fixed income, alternatives and custom multi-asset solutions. The company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With employees in over 30 countries, the California-based company has more than 70 years of investment experience and over $617 billion in assets under management as of May 31, 2020. For more information, please visit franklintempleton.com.