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) announced a monthly dividend on Wednesday, August 5th. Shareholders of record on Friday, October 23rd will be given a dividend of 0.095 per share on Friday, October 30th. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date is Friday, October 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 Stock Up 0.1%

NYSE:EMD opened at $10.57 on Thursday. Western Asset Emerging Markets Debt Fund has a twelve month low of $9.60 and a twelve month high of $11.30. The business has a 50 day moving average price of $10.60 and a two-hundred day moving average price of $10.63.

Institutional Investors Weigh In On Western Asset Emerging Markets Debt Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EMD. Waterfront Wealth Inc. bought a new position in shares of Western Asset Emerging Markets Debt Fund in the 1st quarter valued at about $106,000. Equitable Holdings Inc. acquired a new position in Western Asset Emerging Markets Debt Fund during the fourth quarter valued at approximately $118,000. Evolve Private Wealth LLC acquired a new position in Western Asset Emerging Markets Debt Fund during the fourth quarter valued at approximately $124,000. HRT Financial LP bought a new position in Western Asset Emerging Markets Debt Fund in the fourth quarter valued at approximately $127,000. Finally, Arkadios Wealth Advisors grew its stake in Western Asset Emerging Markets Debt Fund by 23.3% in the first quarter. Arkadios Wealth Advisors now owns 14,157 shares of the company's stock valued at $139,000 after purchasing an additional 2,673 shares in the last quarter. 33.05% of the stock is currently owned by institutional investors and hedge funds.

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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