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MSD · Morgan Stanley Emerging Markets Debt Fund, Inc.

Know the company

Company overview

Morgan Stanley Emerging Markets Debt Fund owns government, government-related and company bonds across emerging markets. Borrower payments produce income, while currencies and credit conditions can change the dollar value of holdings.

Business: Emerging-market debt CEF
Listing: MSD · New York Stock Exchange
Reporting period: 2026-06-30
Dividend schedule: Quarterly

How the business works

Interest becomes net investment income after fund costs. Credit events, currency moves and bond-price changes affect the broader return and NAV separately.

Morgan Stanley Emerging Markets Debt Fund, Inc.: financial report supporting reported earnings

Dividend & earnings snapshot

Dividend payments

Per common share

$0.145Reviewed declaration · Payment Oct 15, 2026

Regular dividend

Announced Sep 18, 2026

Dates and company reports

Announcement: Sep 18, 2026
Declaration: Sep 18, 2026
Ex-dividend: Not confirmed
Record: Sep 30, 2026
Payment: Oct 15, 2026

Dividend declaration for payment Oct 15, 2026 · markets.financialcontent.com · Announced Sep 18, 2026

Extras are shown separately and are not assumed to repeat.

Reported earnings

Each measure shown separately, per share

Net investment income$0.31

Jan 1, 2026 to Jun 30, 2026

Distribution yield8.37%Sourced distributions divided by dated market price

Reported annual income yield7.44%Reported net investment income $0.5500 per share for 2025-01-01 to 2025-12-31, divided by approved 2025-12-31 market price $7.3900. Excludes capital gains; historical, not a current yield or forecast.

Reported annual investment income$0.55Per share for 2025 FY. Excludes investment gains.

Annual dividend$0.60Current regular payment annualized per share

Dividend payment history

Date or month	Per share
Oct 15, 2026	$0.145

Reported earnings and sources

Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.

Reporting period	Per share	Source
Jan 1, 2026 to Jun 30, 2026	$0.31	SEC Announced Sep 2, 2026

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Jan 1, 2026 to Jun 30, 2026	$7.96	+1.14%	$0.29	+5.03%	MSD SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Jan 1, 2025 to Dec 31, 2025	$7.87	+4.24%	$0.73	+15.09%	MSD SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Jan 1, 2024 to Dec 31, 2024	$7.55	-1.44%	$0.92	+11.31%	MSD SEC financial highlights. Reported cash includes all components; partial periods are not annualized.

View older history (up to 7 years)

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Jan 1, 2023 to Dec 31, 2023	$7.66	+1.32%	$0.76	+13.42%	MSD SEC financial highlights. Reported cash includes all components; partial periods are not annualized.
Jan 1, 2022 to Dec 31, 2022	$7.56	-23.56%	$0.48	-17.91%	MSD own SEC Financial Highlights fiscal 2022. Common cash comprises separately reported NII-funded and paid-in-capital components. The repurchase NAV effect is a separate share-accounting line, not investment return. The fiscal market value is reported, not an inferred exchange close.
Jan 1, 2021 to Dec 31, 2021	$9.89	-6.43%	$0.45	-1.71%	MSD own SEC Financial Highlights fiscal 2021. Common cash comprises separately reported NII-funded and paid-in-capital components. The repurchase NAV effect is a separate share-accounting line, not investment return. The fiscal market value is reported, not an inferred exchange close.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

How to read MSD income

Interest after fund expenses is the main recurring income measure. Compare it with distributions for the same full reporting period.

Watch defaults, interest-rate changes and expenses. Income can hold up while falling bond or loan values reduce NAV.

Income and distributions

Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. Interest after fund expenses is the main recurring income measure. Compare it with distributions for the same full reporting period.

Reporting period	Net investment income/share	Total distributions/share	Income coverage
2026-01-01 to 2026-06-30	$0.31	$0.29	106.9%
2025-01-01 to 2025-12-31	$0.55	$0.73	75.3%
2024-01-01 to 2024-12-31	$0.95	$0.92	103.3%

View older history (up to 7 years)

Reporting period	Net investment income/share	Total distributions/share	Income coverage
2023-01-01 to 2023-12-31	$0.64	$0.76	84.2%
2022-01-01 to 2022-12-31	$0.53	$0.48	110.4%
2021-01-01 to 2021-12-31	$0.45	$0.45	100.0%

The assets behind the earnings

How MSD makes money

Financial snapshot: 2026-06-30. Research reviewed 2026-09-18. Compare results for the reporting periods shown. Historical results are not a forecast.

The assets it owns

$160.232 million net assets333 holdings · As of 6/30/2026

Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

Morgan Stanley Emerging Markets Debt Fund, Inc.: net assets and portfolio information, checked 2026-09-11

Reported earnings and distributions

2026-01-01 through 2026-06-30 · $ per share

Fund net investment income per common share; actual reporting period, not annualized$0.3100

In the first half of 2026, MSD reported $0.31 of net investment income per common share and $0.29 of distributions. NAV moved from $7.87 to $7.96. Income exceeded cash paid by two cents per share in this period, while currency and credit results remain important to the value of the capital behind the payment.

Morgan Stanley Emerging Markets Debt Fund, Inc.: financial report supporting reported earnings

The income-producing business

Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

Morgan Stanley Emerging Markets Debt Fund, Inc.: financial report supporting reported earnings

Financing can amplify income and losses

The portfolio information checked September 11, 2026 reports effective leverage of 0.03%.

Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.

Morgan Stanley Emerging Markets Debt Fund, Inc.: net assets and portfolio information, checked 2026-09-11

What the reported earnings support

Morgan Stanley Emerging Markets Debt Fund, Inc. reported $0.3100 per share for 2026-01-01 through 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

Morgan Stanley Emerging Markets Debt Fund, Inc.: financial report supporting reported earnings

Portfolio risk

Losses or weaker cash generation in emerging-market sovereign and corporate debt can reduce the resources available for future distributions.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Morgan Stanley Emerging Markets Debt Fund, Inc.: financial report supporting reported earnings

Distribution sustainability

A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Morgan Stanley Emerging Markets Debt Fund, Inc.: financial report supporting reported earnings

What would change the earnings picture?

At the next comparable report, test common-share income against cash paid and follow country credit, currency moves and NAV. Keep this half-year apart from full-year totals.

Net asset value (NAV)

NAV per share$7.72Sep 29, 2026

Market price$6.96Sep 29, 2026

PREMIUM / DISCOUNT TO NAV9.84% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.

NAV source · Market-price source

Fly High context

At the next comparable report, test common-share income against cash paid and follow country credit, currency moves and NAV. Keep this half-year apart from full-year totals.

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U.S. federal · Tax year 2025

Dividend tax treatment

MSD’s 2025 distributions were mostly ordinary income, with a small return-of-capital portion.

Total ordinary dividends: 98.16%
Qualified dividends: Not confirmed
Capital-gain distributions: 0%
Return of capital: 1.84%

Tax year: 2025.

Tax details and source

Total ordinary dividends (includes qualified): 98.16%
Section 199A portion (within ordinary dividends): Not confirmed
Exempt-interest distributions: 0%
Reporting form: Form 1099-DIV
Source date: Not stated

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

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