|Bid||0.00 x 1300|
|Ask||16.40 x 900|
|Day's range||16.27 - 16.32|
|52-week range||10.88 - 17.14|
|Beta (5Y monthly)||0.52|
|PE ratio (TTM)||N/A|
|Earnings date||14 Feb 2020 - 17 Feb 2020|
|Forward dividend & yield||0.93 (5.71%)|
|Ex-dividend date||21 Aug 2020|
|1y target est||N/A|
Western Asset Variable Rate Strategic Fund Inc. (the "Fund") announced today that the Fund’s Board of Directors (the "Board") has approved a plan of liquidation and dissolution of the Fund, subject to stockholder approval of such plan in accordance with Maryland law. Based on the recommendations of Legg Mason Partners Fund Advisor, LLC ("LMPFA"), the Fund’s investment manager, and Western Asset Management Company, LLC ("Western Asset"), one of the Fund’s sub-advisers, the Board believes that liquidation and dissolution of the Fund is in the best interests of the Fund.
Each of the Funds listed above announced today that the Special Meeting of Shareholders (the "Meeting") originally scheduled for Friday, June 5, 2020 at 9:00 a.m. Eastern Time has been postponed to Monday, July 6, 2020 at 9:00 a.m. Eastern Time in order to solicit additional shareholder votes. As previously announced, in light of public health concerns regarding the coronavirus pandemic, the Meeting will be held in a virtual meeting format only. Each Meeting will be accessible solely by means of remote communication.
Western Asset Variable Rate Strategic Fund Inc. (NYSE: GFY) (the "Fund") today announced that Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), two of the leading independent proxy advisory firms, recommend that shareholders vote to approve the new agreements between the Fund and its investment manager and subadvisers.