SOURCE: The TCW Group, Inc.

The TCW Group, Inc.

December 17, 2009 16:33 ET

TCW Strategic Income Fund Declares Special Distribution

LOS ANGELES, CA--(Marketwire - December 17, 2009) - The TCW Strategic Income Fund, Inc. (NYSE: TSI) announced that its Board of Directors declared a special year-end distribution of $0.26 per share. The distribution is payable on January 15, 2010 to shareholders of record on December 31, 2009.

The Fund has a managed distribution policy, which is to make a quarterly distribution equal to 7% per annum of the Fund's prior year-end net asset value per share. However, the Fund, as a registered investment company, is required under Internal Revenue Service regulations to distribute substantially all of its net taxable income to its shareholders by the end of each year. The Fund's investment strategy has generated more than the minimum 7% payout, and therefore, the Board is pleased to announce the special distribution. It is estimated that all of the special dividend will be from net income. The special distribution is based on the Fund's estimated 2009 income.

TSI is a closed-end fund listed on the New York Stock Exchange. The Fund began operations in March 1987 and currently has net assets of approximately $239 million.

About TCW

Founded in 1971, The TCW Group, Inc. develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients' wealth. The firm has approximately $108 billion in assets under management. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. TCW is a subsidiary of Société Générale Asset Management, which has approximately $400 billion under management. For more information, please refer to

Various matters discussed in this news release constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected or contemplated by these forward-looking statements due to a number of factors, including general economic conditions, overall availability of certain types of securities for investment by the Fund, the level of volatility in the securities markets and in the share price of the Fund, and other risk factors outlined in the Fund's SEC Filings. In addition, distribution policies are a matter of Board discretion and may be modified or terminated at any time without prior notice.

Contact Information

  • Contact:

    Erin K. Freeman
    Managing Director, Corporate Communications
    (213) 244-0959
    Email Contact