Putnam Announces Distribution Rates for Closed-End Funds

BOSTON--(BUSINESS WIRE)--The Trustees of The Putnam Funds have announced Section 19 Disclosures for the following distributions previously declared on August 5, 2014.

SECTION 19 DISCLOSURE

High Income Securities Fund

Putnam estimates that $0.0295 per share of High Income Securities Fund’s dividend is paid from accumulated net investment income, and $0.0014 per share represents a return of capital. These estimates and the sources of the fund's dividends and distributions are determined in accordance with accounting principles applicable to the fund. These principles may vary from those applicable to the characterization of distributions under federal tax law and, accordingly, federal tax law treatment will likely vary from the estimated characterization above. In addition, the sources of dividends are estimated at the time of declaration. Actual results will vary from these estimates. A non-taxable return of capital, if any, cannot be determined until after the end of the fund's fiscal year. In January 2015, you will receive final information as to the federal tax status of this and other distributions from the fund in the preceding calendar year.

Managed Municipal Income Trust

Putnam estimates that $0.0361 per share of Managed Municipal Income Trust’s dividend is paid from accumulated net investment income, and $0.0002 per share represents a nontaxable return of capital. These estimates and the sources of the fund's dividends and distributions are determined in accordance with accounting principles applicable to the fund. These principles may vary from those applicable to the characterization of distributions under federal tax law and, accordingly, federal tax law treatment will likely vary from the estimated characterization above. In addition, the sources of dividends are estimated at the time of declaration. Actual results will vary from these estimates. A non-taxable return of capital, if any, cannot be determined until after the end of the fund's fiscal year. In January 2015, you will receive final information as to the federal tax status of this and other distributions from the fund in the preceding calendar year.