Franklin Templeton Fund Adviser, LLC Announces Distributions for the Months of December 2025, January and February 2026

Franklin Templeton Fund Adviser, LLC has announced the distribution details for selected closed-end funds for the months of December 2025, January 2026, and February 2026. The company's distribution schedule indicates specific record dates, ex-dividend dates, and payment dates for each month.

For December 2025, the record and ex-dividend date is set for December 23, with distributions payable on December 31. The January 2026 payments will follow the same schedule, beginning with a record date of January 23, and the February schedule will also feature a similar timeline, with a record date of February 20.

The funds and their respective distribution amounts per share are as follows: - **EMO** (ClearBridge Energy Midstream Opportunity Fund Inc.) will distribute $0.36000 monthly. - **HIX** (Western Asset High Income Fund II Inc.) will provide $0.04900 per month. - **HIO** (Western Asset High Income Opportunity Fund Inc.) will distribute $0.03550. - **HYI** (Western Asset High Yield Opportunity Fund Inc.) and several other funds, including **EHI** (Western Asset Global High Income Fund Inc.), **GDO** (Western Asset Global Corporate Opportunity Fund Inc.), and **IGI** (Western Asset Investment Grade Opportunity Trust Inc.), will maintain consistent distributions as well.

It's important to note that these distributions may include components other than net investment income, and the funds will issue notices to shareholders regarding the source of the distributions as applicable. Shareholders will receive Form 1099-DIVs in early 2026 and early 2027 detailing the distribution characterizations for tax purposes.

Franklin Templeton, a wholly-owned subsidiary of Franklin Resources, emphasizes that its investment products are not FDIC insured and carry inherent risks. For further information, investors are encouraged to visit the company’s website or contact their Fund Investor Services.

Franklin Templeton Fund Adviser, LLC’s recent announcement regarding distributions for several closed-end funds over the months of December 2025, January, and February 2026 provides significant insights for investors considering entry into these funds or seeking to reassess their positions. The distribution amounts remain stable for most funds, including the ClearBridge Energy Midstream Opportunity Fund (EMO) and several Western Asset funds, indicating a consistent income stream across the board. Notably, the EMO is taxed as a regular C-Corporation, which necessitates particular attention from investors regarding the nature of its income distributions—primarily ordinary income and capital gains.

The distribution announcements reflect the funds' operational health, and the stability in payout amounts can be seen as a positive signal for potential and current investors, suggesting solid underlying performance. However, investors should note that the Western Asset Mortgage Opportunity Fund (DMO) experienced a slight decrease in its distribution, a potential red flag that warrants closer scrutiny of the fund’s portfolio performance and market conditions impacting it.

As we move into early 2026, it is crucial for investors to remain vigilant about the overall market environment, particularly given potential volatility typical of closed-end funds, which can trade at discounts to their net asset values. This can amplify both risk and opportunity, depending on broader economic conditions and the individual fund's performance metrics.

For investors considering these funds, weighing the expected yield against associated risks, market conditions, and individual tax implications of distributions (with future 1099-DIV forms providing necessary insights) is paramount. It's advisable to engage with a financial advisor to assess how these distributions align with personal investment goals and risk profiles.