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Putnam Announces Dividend Rates for Open-End Funds

·7 min read

The Trustees of The Putnam Funds declare the following distributions today.

RECORD

PAYMENT

FUND NAME AND DISTRIBUTIONS

DATE

DATE

Putnam Convertible Securities Fund– Class A Shares (PCONX)

$0.0860 per share investment income (b)

12/28/20

12/30/20

$0.9640 per share short-term capital gain

$2.4320 per share long-term capital gain

$3.4820 per share total

Putnam Convertible Securities Fund– Class B Shares (PCNBX)

$0.0230 per share investment income

12/28/20

12/30/20

$0.9640 per share short-term capital gain

$2.4320 per share long-term capital gain

$3.4190 per share total

Putnam Convertible Securities Fund – Class C Shares (PRCCX)

$0.0250 per share investment income

12/28/20

12/30/20

$0.9640 per share short-term capital gain

$2.4320 per share long-term capital gain

$3.4210 per share total

Putnam Convertible Securities Fund – Class R Shares (PCVRX)

$0.0660 per share investment income

12/28/20

12/30/20

$0.9640 per share short-term capital gain

$2.4320 per share long-term capital gain

$3.4620 per share total

Putnam Convertible Securities Fund – Class Y Shares (PCGYX)

$0.1070 per share investment income

12/28/20

12/30/20

$0.9640 per share short-term capital gain

$2.4320 per share long-term capital gain

$3.5030 per share total

Putnam Convertible Securities Fund – Class R6 Shares (PCNTX)

$0.1110 per share investment income

12/28/20

12/30/20

$0.9640 per share short-term capital gain

$2.4320 per share long-term capital gain

$3.5070 per share total

Putnam Convertible Securities Fund – Class I Shares (a)

$0.1140 per share investment income

12/28/20

12/30/20

$0.9640 per share short-term capital gain

$2.4320 per share long-term capital gain

$3.5100 per share total

Putnam Equity Income Fund – Class A Shares (PEYAX)

$0.0990 per share investment income (b)

12/28/20

12/30/20

$1.1770 per share long-term capital gain

$1.2760 per share total

Putnam Equity Income Fund – Class B Shares (PEQNX)

$0.0500 per share investment income

12/28/20

12/30/20

$1.1770 per share long-term capital gain

$1.2270 per share total

Putnam Equity Income Fund – Class C Shares (PEQCX)

$0.0510 per share investment income

12/28/20

12/30/20

$1.1770 per share long-term capital gain

$1.2280 per share total

Putnam Equity Income Fund – Class R Shares (PEQRX)

$0.0820 per share investment income

12/28/20

12/30/20

$1.1770 per share long-term capital gain

$1.2590 per share total

Putnam Equity Income Fund – Class Y Shares (PEIYX)

$0.1150 per share investment income

12/28/20

12/30/20

$1.1770 per share long-term capital gain

$1.2920 per share total

Putnam Equity Income Fund – Class R5 Shares (PEQLX)

$0.1150 per share investment income

12/28/20

12/30/20

$1.1770 per share long-term capital gain

$1.2920 per share total

Putnam Equity Income Fund – Class R6 Shares (PEQSX)

$0.1220 per share investment income

12/28/20

12/30/20

$1.1770 per share long-term capital gain

$1.2990 per share total

Putnam Global Income Trust – Class A Shares (PGGIX)

$0.0170 per share investment income(b)

12/28/20

12/30/20

Putnam Global Income Trust – Class B Shares (PGLBX)

$0.0090 per share investment income

12/28/20

12/30/20

Putnam Global Income Trust – Class C Shares (PGGLX)

$0.0090 per share investment income

12/28/20

12/30/20

Putnam Global Income Trust – Class R Shares (PGBRX)

$0.0140 per share investment income

12/28/20

12/30/20

Putnam Global Income Trust – Class Y Shares (PGGYX)

$0.0200 per share investment income

12/28/20

12/30/20

Putnam Global Income Trust – Class R5 Shares (PGGDX)

$0.0200 per share investment income

12/28/20

12/30/20

Putnam Global Income Trust – Class R6 Shares (PGGEX)

$0.0210 per share investment income

12/28/20

12/30/20

Putnam RetirementReady Advantage Maturity Fund – Class A Shares (POMGX)

$0.1620 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1700 per share total

Putnam RetirementReady Advantage Maturity Fund - Class C Shares (PLFGX)

$0.1490 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1570 per share total

Putnam RetirementReady Advantage Maturity Fund - Class R Shares (PAKYX)

$0.1550 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1630 per share total

Putnam RetirementReady Advantage Maturity Fund – Class Y Shares (PAETX)

$0.1660 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1740 per share total

Putnam RetirementReady Advantage Maturity Fund – Class R5 Shares (PAHOX)

$0.1660 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1740 per share total

Putnam RetirementReady Advantage Maturity Fund – Class R6 Shares (PADLX)

$0.1690 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1770 per share total

Putnam RetirementReady Advantage Maturity Fund – Class R3 Shares (PAHMX)

$0.1600 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1680 per share total

Putnam RetirementReady Advantage Maturity Fund – Class R4 Shares (PAHNX)

$0.1640 per share extra taxable income

12/28/20

12/30/20

$0.0080 per share short-term capital gain

$0.1720 per share total

Putnam RetirementReady Maturity Fund – Class A Shares (PRMAX)

$0.0190 per share investment income (c)

12/28/20

12/30/20

$0.0580 per share extra taxable income

$0.0350 per share long-term capital gain

$0.1120 per share total

Putnam RetirementReady Maturity Fund- Class B Shares (PRMLX)

$0.0080 per share investment income

12/28/20

12/30/20

$0.0580 per share extra taxable income

$0.0350 per share long-term capital gain

$0.1010 per share total

Putnam RetirementReady Maturity Fund - Class C Shares (PRMCX)

$0.0080 per share investment income

12/28/20

12/30/20

$0.0580 per share extra taxable income

$0.0350 per share long-term capital gain

$0.1010 per share total

Putnam RetirementReady Maturity Fund - Class R Shares (PRMKX)

$0.0150 per share investment income

12/28/20

12/30/20

$0.0580 per share extra taxable income

$0.0350 per share long-term capital gain

$0.1080 per share total

Putnam RetirementReady Maturity Fund – Class Y Shares (PRMYX)

$0.0230 per share investment income

12/28/20

12/30/20

$0.0580 per share extra taxable income

$0.0350 per share long-term capital gain

$0.1160 per share total

Putnam RetirementReady Maturity Fund – Class R6 Shares (PREWX)

$0.0250 per share investment income

12/28/20

12/30/20

$0.0580 per share extra taxable income

$0.0350 per share long-term capital gain

$0.1180 per share total

(a) Quotron symbol pending

(b) Class A regular quarterly distributions were announced on the 11/20/20 press release.

(c) The Class A regular monthly distribution for Putnam RetirementReady Maturity was announced on the 12/24/20 press release.

19 (a) Notice

Putnam RetirementReady Maturity Fund

As of December 14, 2020, the fund had net realized and unrealized losses of $0.216 per share, of which $0.000 represents unrealized depreciation of portfolio securities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201228005279/en/

Contacts

PUTNAM SHAREHOLDERS CONTACT: 1-800-225-1581

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The transformation has taken place over several years, with half a dozen acquisitions along the way, including Cylance, Good, and AtHoc. These companies have been assimilated and worked into BlackBerry's product streams, but also have resulted in a significant write down of goodwill, including $500 million earlier in 2020. BlackBerry has at least stabilized its financial situation, and now has positive free cash flow and adjusted EBITDA. That said, the turmoil surrounding the company has affected its stock price and resulted in an attractive valuation. BlackBerry also boasts some promising technologies that could lead to strong revenue growth down the road. This may be a great time to invest in BlackBerry. Valuation Metrics BlackBerry’s low valuation should come as no surprise given its past troubles. The company has superior metrics versus the software industry on a number of fronts, summarized in the table below. MetricBlackBerryIndustryPrice/Sales Ratio5.8511.31Price/Book Ratio3.0711.44Gross Margin74.2%70.9%Operating Margin-9.2%-23.6%Current Ratio2.271.57Total Debt/Equity0.330.55 Metrics such as price/sales and price/book ratio suggest that BlackBerry is quite undervalued, with a strong likelihood that the stock will outperform once the company’s future potential is recognized by the market. It is not at all unreasonable to expect a 2x - 3x stock price increase from its current level. BlackBerry IVY BlackBerry’s recent announcement regarding its strategic alliance with Amazon Web Services (AWS) may be enough to kick-start the company’s stock price. The exclusive partnership provides instant credibility along with a ‘Big Data’ mindset to vehicle data, resulting in unlimited potential for third-party applications in areas such as car insurance, maintenance, EV charging, and connected vehicles. The AWS platform gives BlackBerry IVY cloud-connectivity, scalability, and a global reach. This initiative will provide BlackBerry with a new source of recurring revenue in the automotive market, where it already has software installed in over 175 million cars. Spark Suite Apart from BlackBerry IVY, there are several other promising technologies emerging from BlackBerry, including Spark Suite, which combines Endpoint Management with Endpoint Security, a logical step in the evolution of mobile devices. Spark Suite provides Zero Trust, an emerging concept in cybersecurity that is becoming a necessity for enterprises as mobile devices such as wearables become the norm within the workplace. In addition to IVY and Spark Suite, BlackBerry has several other more mature product offerings including QNX, BlackBerry AtHoc, and BlackBerry SecuSUITE. While not as exciting as BlackBerry's recent initiatives, they provide a steady and increasing revenue stream. Wall Street’s Take From Wall Street analysts, BlackBerry earns a Hold analyst consensus based on 3 Hold ratings. Additionally, the average price target of $8 puts the downside potential at 18.7%. (See BlackBerry stock analysis on TipRanks) Summary and Conclusions BlackBerry has had a turbulent past, downsizing from a $6 billion hardware company into a $1 billion software company over the last seven years. Revenue was down 20% year-over-year in the latest quarter, but much of the poor performance can be attributed to the soft auto sector resulting from the pandemic. QNX licensing fees and royalties will pick up as the global economy improves. Despite several years of disappointing results, the company has stabilized its financial situation and appears to be positioned to capitalize on several leading-edge technology ventures, including its exclusive partnership with AWS and enterprise mobility management and security. Given the very low valuation, this could be an ideal time to invest in BlackBerry. Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.

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