Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD) to Issue Dividend Increase - $0.10 Per Share

Key Points

• Western Asset Emerging Markets Debt Fund announced a monthly dividend of $0.095 per share, payable October 30 to shareholders of record October 23. The dividend implies an annualized yield of approximately 10.8% and is a substantial increase from the prior $0.03 monthly payout.
• EMD shares opened at $10.57, near their 50-day and 200-day moving averages, with a 52-week trading range of $9.60 to $11.30.
• Institutional investors and hedge funds own approximately 33.05% of the fund. EMD is a closed-end fund focused primarily on sovereign, quasi-sovereign and corporate debt securities in emerging markets.

Western Asset Emerging Markets Debt Fund Inc. (NYSE:EMD - Get Free Report) declared a monthly dividend on Wednesday, August 5th. Stockholders of record on Wednesday, September 23rd will be given a dividend of 0.095 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Wednesday, September 23rd. This is a 187.9% increase from Western Asset Emerging Markets Debt Fund's previous monthly dividend of $0.03.

Western Asset Emerging Markets Debt Fund Trading Up 0.2%

Shares of Western Asset Emerging Markets Debt Fund stock traded up $0.02 during trading hours on Thursday, reaching $10.58. 73,175 shares of the stock traded hands, compared to its average volume of 215,980. Western Asset Emerging Markets Debt Fund has a one year low of $9.60 and a one year high of $11.30. The company has a 50 day moving average price of $10.60 and a 200 day moving average price of $10.63.

Institutional Investors Weigh In On Western Asset Emerging Markets Debt Fund

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its holdings in shares of Western Asset Emerging Markets Debt Fund by 2.2% in the 1st quarter. NewEdge Advisors LLC now owns 93,448 shares of the company's stock worth $918,000 after acquiring an additional 2,026 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Western Asset Emerging Markets Debt Fund by 19.6% during the first quarter. Bank of America Corp DE now owns 522,239 shares of the company's stock valued at $5,128,000 after buying an additional 85,592 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Western Asset Emerging Markets Debt Fund by 23.3% during the first quarter. Arkadios Wealth Advisors now owns 14,157 shares of the company's stock valued at $139,000 after buying an additional 2,673 shares during the period. Royal Bank of Canada grew its stake in shares of Western Asset Emerging Markets Debt Fund by 21.4% during the first quarter. Royal Bank of Canada now owns 267,125 shares of the company's stock valued at $2,624,000 after buying an additional 47,135 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Western Asset Emerging Markets Debt Fund by 10.7% during the first quarter. Cetera Investment Advisers now owns 54,550 shares of the company's stock valued at $536,000 after buying an additional 5,255 shares during the last quarter. Hedge funds and other institutional investors own 33.05% of the company's stock.

Western Asset Emerging Markets Debt Fund Company Profile

Western Asset Emerging Markets Debt Fund Inc NYSE: EMD is a closed-end management investment company launched in December 2004 and managed by Western Asset Management Company, a global fixed-income specialist. The fund seeks to provide a high level of current income by investing primarily in debt securities issued by sovereign, quasi-sovereign and corporate issuers in emerging markets. Its diversified approach combines top-down macroeconomic analysis with bottom-up credit research to identify attractive risk-adjusted opportunities across developing economies.

EMD’s portfolio spans a wide range of instruments, including sovereign government bonds, supranational obligations, corporate credits and other fixed-income securities.

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