Cohen & Steers Closed-End Opportunity Fund, Inc. (FOF) Notification of Sources of Distribution Under Section 19(a)
Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) has announced its distribution details for February 28, 2025, under its managed distribution policy implemented in December 2021. The policy aims to deliver the Fund's long-term total return potential through regular monthly distributions at a fixed rate per common share.
The monthly distributions may include long-term capital gains, short-term capital gains, net investment income, and/or return of capital. The Fund estimates it has distributed more than its income and capital gains, suggesting a portion of distributions may be return of capital. Return of capital reduces a shareholder's tax basis and is not taxable.
The Fund emphasizes that distribution amounts may vary based on portfolio and market conditions. The Board of Directors retains the right to amend, terminate, or suspend the managed distribution policy, which could affect the Fund's market price.
Il Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) ha annunciato i dettagli della sua distribuzione per il 28 febbraio 2025, nell'ambito della sua politica di distribuzione gestita attuata nel dicembre 2021. La politica mira a fornire il potenziale di rendimento totale a lungo termine del Fondo attraverso distribuzioni mensili regolari a un tasso fisso per azione ordinaria.
Le distribuzioni mensili possono includere guadagni di capitale a lungo termine, guadagni di capitale a breve termine, reddito da investimenti netti e/o restituzione di capitale. Il Fondo stima di aver distribuito più del suo reddito e dei guadagni di capitale, suggerendo che una parte delle distribuzioni potrebbe essere restituzione di capitale. La restituzione di capitale riduce la base imponibile di un azionista e non è tassabile.
Il Fondo sottolinea che gli importi delle distribuzioni possono variare in base alle condizioni del portafoglio e del mercato. Il Consiglio di Amministrazione si riserva il diritto di modificare, terminare o sospendere la politica di distribuzione gestita, il che potrebbe influenzare il prezzo di mercato del Fondo.
El Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) ha anunciado los detalles de su distribución para el 28 de febrero de 2025, bajo su política de distribución gestionada implementada en diciembre de 2021. La política tiene como objetivo ofrecer el potencial de rendimiento total a largo plazo del Fondo a través de distribuciones mensuales regulares a una tasa fija por acción común.
Las distribuciones mensuales pueden incluir ganancias de capital a largo plazo, ganancias de capital a corto plazo, ingresos netos de inversiones y/o devolución de capital. El Fondo estima que ha distribuido más de sus ingresos y ganancias de capital, lo que sugiere que una parte de las distribuciones puede ser devolución de capital. La devolución de capital reduce la base imponible de un accionista y no es gravable.
El Fondo enfatiza que los montos de las distribuciones pueden variar según las condiciones del portafolio y del mercado. La Junta Directiva se reserva el derecho de modificar, terminar o suspender la política de distribución gestionada, lo que podría afectar el precio de mercado del Fondo.
코헨 & 스티어스 클로즈드엔드 기회 펀드 (NYSE: FOF)는 2025년 2월 28일에 대한 배당 세부 사항을 발표했습니다. 이는 2021년 12월에 시행된 관리 배당 정책에 따른 것입니다. 이 정책은 고정 비율로 정기적인 월 배당금을 통해 펀드의 장기 총 수익 잠재력을 제공하는 것을 목표로 합니다.
월 배당금은 장기 자본 이득, 단기 자본 이득, 순 투자 수익 및/또는 자본 반환을 포함할 수 있습니다. 펀드는 수익 및 자본 이득보다 더 많은 배당금을 분배했다고 추정하고 있으며, 이는 배당금의 일부가 자본 반환일 수 있음을 시사합니다. 자본 반환은 주주의 세금 기준을 줄이며 과세되지 않습니다.
펀드는 배당금 금액이 포트폴리오 및 시장 조건에 따라 달라질 수 있다고 강조합니다. 이사회는 관리 배당 정책을 수정, 종료 또는 중단할 권리를 보유하며, 이는 펀드의 시장 가격에 영향을 미칠 수 있습니다.
Le Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) a annoncé les détails de sa distribution pour le 28 février 2025, dans le cadre de sa politique de distribution gérée mise en place en décembre 2021. Cette politique vise à offrir le potentiel de rendement total à long terme du Fonds par le biais de distributions mensuelles régulières à un taux fixe par action ordinaire.
Les distributions mensuelles peuvent inclure des gains en capital à long terme, des gains en capital à court terme, des revenus nets d'investissement et/ou un retour de capital. Le Fonds estime avoir distribué plus que ses revenus et ses gains en capital, ce qui suggère qu'une partie des distributions pourrait être un retour de capital. Le retour de capital réduit la base imposable d'un actionnaire et n'est pas imposable.
Le Fonds souligne que les montants des distributions peuvent varier en fonction des conditions du portefeuille et du marché. Le Conseil d'Administration se réserve le droit de modifier, de mettre fin ou de suspendre la politique de distribution gérée, ce qui pourrait affecter le prix de marché du Fonds.
Der Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) hat die Einzelheiten seiner Ausschüttung für den 28. Februar 2025 bekannt gegeben, im Rahmen seiner im Dezember 2021 eingeführten verwalteten Ausschüttungspolitik. Diese Politik zielt darauf ab, das langfristige Gesamtertragspotenzial des Fonds durch regelmäßige monatliche Ausschüttungen zu einem festen Satz pro Stammaktie zu liefern.
Die monatlichen Ausschüttungen können langfristige Kapitalgewinne, kurzfristige Kapitalgewinne, Nettoanlageerträge und/oder Kapitalrückzahlungen umfassen. Der Fonds schätzt, dass er mehr als sein Einkommen und seine Kapitalgewinne ausgeschüttet hat, was darauf hindeutet, dass ein Teil der Ausschüttungen Kapitalrückzahlungen sein könnte. Kapitalrückzahlungen reduzieren die Steuerbasis eines Aktionärs und sind nicht steuerpflichtig.
Der Fonds betont, dass die Ausschüttungsbeträge je nach Portfolio- und Marktbedingungen variieren können. Der Vorstand behält sich das Recht vor, die verwaltete Ausschüttungspolitik zu ändern, zu beenden oder auszusetzen, was den Marktpreis des Fonds beeinflussen könnte.
- Consistent monthly distribution policy providing regular income to shareholders
- Flexibility to realize and distribute long-term capital gains throughout the year
- Fund distributing more than its income and capital gains, indicating potential return of capital
- Distribution policy can be terminated or suspended, potentially affecting market price
In December 2021, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares.
The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.
At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.
The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.
DISTRIBUTION ESTIMATES | February 2025 | YEAR-TO-DATE (YTD) February 28, 2025* | ||
Source | Per Share | % of Current | Per Share | % of 2025 |
Net Investment Income | 36.90 % | 49.02 % | ||
Net Realized Short-Term Capital Gains | 0.00 % | 9.08 % | ||
Net Realized Long-Term Capital Gains | 63.10 % | 40.00 % | ||
Return of Capital (or other Capital Source) | 0.00 % | 1.90 % | ||
Total Current Distribution | 100.00 % | 100.00 % | ||
You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.
*THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES
The Fund's Year-to-date Cumulative Total Return for fiscal year 2025 (January 1, 2025 through January 31, 2025) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2025. In addition, the Fund's Average Annual Total Return for the five-year period ending January 31, 2025 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2025. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.
Fund Performance and Distribution Rate Information:
Year-to-date January 1, 2025 to January 31, 2025 | |
Year-to-date Cumulative Total Return1 | 3.57 % |
Cumulative Distribution Rate2 | 1.41 % |
Five-year period ending January 31, 2025 | |
Average Annual Total Return3 | 7.17 % |
Current Annualized Distribution Rate4 | 8.48 % |
1. | Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions. |
2. | Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2025 through February 28, 2025) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of January 31, 2025. |
3. | Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending January 31, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions. |
4. | The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of January 31, 2025. |
Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.
Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.
SOURCE: Cohen & Steers, Inc.
CONTACT: Robert Klemens, Vice President
Communications
212 796 9377
Website: https://www.cohenandsteers.com
Symbol: (NYSE: CNS)
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in
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This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.
Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
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SOURCE Cohen & Steers, Inc.
FAQ
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