Western Asset High Yield Defined Opportunity Fund Inc. (“HYI”) Sets New Rate and Announces Distributions for the Months of June, July and August 2013

Business Wire

NEW YORK--(BUSINESS WIRE)--

Western Asset High Yield Defined Opportunity Fund Inc. (HYI) announced today monthly distributions of $0.1300 per common share for June, July and August 2013. The Fund had previously paid a monthly distribution of $0.1350 per share.

The distribution schedule appears below:

Month     Ex-Date     Record Date     Payable Date     Amount     Type
June 06/19/2013 06/21/2013 06/28/2013 $0.1300 Income
July 07/17/2013 07/19/2013 07/26/2013 $0.1300 Income
August 08/21/2013 08/23/2013 08/30/2013 $0.1300 Income
 

The Fund has decreased its distributions to a level that better approximates the current level of net investment income generated by its investment portfolio. As the Fund reinvests principal and income, it reinvests at lower levels as yields remain at historic lows.

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund's distributions that have been declared by the Board of Directors. In early 2014, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

Western Asset High Yield Defined Opportunity Fund Inc., a non-diversified, limited-term, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.

Contact the Fund at 1-888-777-0102 for additional information, or consult the Fund’s web site at www.lmcef.com.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

Contact:
Media:
Western Asset High Yield Defined Opportunity Fund Inc.
Maria Rosati, 212-805-6036
mrosati@leggmason.com
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