LMP Capital and Income Fund Inc. Approves Up to $45 Million Preferred Stock Offering

The board of LMP Capital and Income Fund Inc. approved a private placement of up to $45 million in preferred stock to reduce leverage and support new portfolio investments.

The planned securities are fixed-rate mandatory redeemable preferred shares. The fund intends to use the net proceeds to repay part of its existing leverage and make new portfolio investments.

LMP is a closed-end investment fund listed on the New York Stock Exchange under the ticker SCD. Franklin Templeton Fund Adviser, LLC advises the fund.

The fund expects to price the private placement in the fourth quarter of 2026.