Franklin Templeton announced on May 21 that its Templeton Emerging Markets Income Fund (TEI) is raising its monthly dividend by 13.7%, from $0.0475 per share to $0.054 per share. This adjustment results in an annualized distribution rate of approximately 10.37%, which will be implemented from July through September.

According to the announcement, for the July distribution, the ex-dividend and record dates are both July 24, with a payment date of July 31. For August, the ex-dividend and record dates are August 24, with payment on August 31. For September, the ex-dividend and record dates are September 23, with payment on September 30.

The fund is a closed-end management investment company primarily investing in income-producing securities issued by sovereign or sovereign-related entities and private companies in emerging market countries. Its primary investment objective is to achieve a high level of current income, with capital appreciation as a secondary goal. Under its managed distribution policy, to maintain a stable distribution level, the fund may distribute long-term capital gains or return of capital when distributable income is insufficient.

Data shows the fund's five-year average annual total return based on net asset value is 6.22%, with a current distribution rate based on net asset value of 8.70%. Franklin Templeton stated that the Board of Trustees may modify, terminate, or suspend the managed distribution policy at any time, and any such changes could adversely affect the fund's share price.