Western Asset Global Corporate Defined Opportunity Fund Inc. Plans Monthly Dividend of $0.10 (NYSE:GDO)

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO – Get Rating) declared a monthly dividend on Thursday, May 19th, Wall Street Journal reports. Shareholders of record on Wednesday, August 24th will be given a dividend of 0.101 per share on Thursday, September 1st. This represents a $1.21 dividend on an annualized basis and a yield of 8.68%. The ex-dividend date of this dividend is Tuesday, August 23rd.

Western Asset Global Corporate Defined Opportunity Fund has decreased its dividend payment by an average of 0.6% annually over the last three years.

GDO stock traded down $0.03 during midday trading on Thursday, reaching $13.96. The company had a trading volume of 69,795 shares, compared to its average volume of 41,311. Western Asset Global Corporate Defined Opportunity Fund has a 1 year low of $13.39 and a 1 year high of $18.72. The firm has a 50-day moving average price of $14.45 and a 200-day moving average price of $16.07.

A number of hedge funds have recently added to or reduced their stakes in GDO. NewEdge Advisors LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the 4th quarter valued at $404,000. Rivernorth Capital Management LLC purchased a new stake in shares of Western Asset Global Corporate Defined Opportunity Fund in the 1st quarter valued at $404,000. Stifel Financial Corp boosted its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 37.6% in the 4th quarter. Stifel Financial Corp now owns 37,726 shares of the company’s stock valued at $660,000 after purchasing an additional 10,307 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 9.9% in the 1st quarter. Guggenheim Capital LLC now owns 170,084 shares of the company’s stock valued at $2,528,000 after purchasing an additional 15,377 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Western Asset Global Corporate Defined Opportunity Fund by 3.3% in the 4th quarter. Invesco Ltd. now owns 208,990 shares of the company’s stock valued at $3,655,000 after purchasing an additional 6,653 shares in the last quarter.

About Western Asset Global Corporate Defined Opportunity Fund (Get Rating)

Western Asset Global Corporate Defined Opportunity Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Pte. Ltd., Western Asset Management Company Ltd., and Western Asset Management Company Limited.

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