STOCK TITAN

Cohen & Steers Closed-End Opportunity Fund, Inc. (FOF) Notification of Sources of Distribution Under Section 19(a)

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) has announced its January 2025 distribution details under its managed distribution policy. The Fund will distribute $0.0870 per share on January 31, 2025, consisting of 34.59% from net investment income ($0.0301) and 65.41% from return of capital ($0.0569).

The Fund's performance metrics show a year-to-date cumulative total return of 20.91% and a five-year average annual total return of 6.40%. The current annualized distribution rate stands at 8.72% of NAV. The managed distribution policy, implemented in December 2021, aims to deliver the Fund's long-term total return potential through regular monthly distributions at a fixed rate per share.

Il Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) ha annunciato i dettagli della distribuzione di gennaio 2025 secondo la sua politica di distribuzione gestita. Il Fondo distribuirà $0.0870 per azione il 31 gennaio 2025, composto da 34.59% di guadagni da investimenti netti ($0.0301) e 65.41% da rimborso di capitale ($0.0569).

I parametri di performance del Fondo mostrano un ritorno totale cumulativo dall'inizio dell'anno del 20.91% e un ritorno totale medio annuale di cinque anni del 6.40%. L'attuale tasso di distribuzione annualizzata è pari a 8.72% del NAV. La politica di distribuzione gestita, implementata a dicembre 2021, mira a fornire il potenziale di ritorno totale a lungo termine del Fondo attraverso distribuzioni mensili regolari a un tasso fisso per azione.

El Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) ha anunciado los detalles de la distribución de enero de 2025 bajo su política de distribución gestionada. El Fondo distribuirá $0.0870 por acción el 31 de enero de 2025, compuesto por 34.59% de ingresos netos por inversiones ($0.0301) y 65.41% de devolución de capital ($0.0569).

Las métricas de rendimiento del Fondo muestran un retorno total acumulado desde el inicio del año del 20.91% y un retorno total promedio anual de cinco años del 6.40%. La tasa de distribución anualizada actual se sitúa en 8.72% del NAV. La política de distribución gestionada, implementada en diciembre de 2021, tiene como objetivo proporcionar el potencial de retorno total a largo plazo del Fondo a través de distribuciones mensuales regulares a una tasa fija por acción.

Cohen & Steers 폐쇄형 기회 펀드(NYSE: FOF)는 관리형 배당 정책에 따라 2025년 1월 배당 상세 정보를 발표했습니다. 이 펀드는 2025년 1월 31일에 주당 $0.0870를 배당하며, 34.59%는 순 투자 수익 ($0.0301)에서, 65.41%는 자본 환급 ($0.0569)에서 차지합니다.

펀드의 성과 지표는 연초 누적 총 수익률이 20.91%이며, 5년 평균 연간 총 수익률이 6.40%임을 보여줍니다. 현재 연환산 배당률은 NAV의 8.72%입니다. 2021년 12월에 시행된 관리형 배당 정책은 주당 고정 금액으로 정기적인 월별 배당을 통해 펀드의 장기 총 수익 잠재력을 전달하는 것을 목표로 하고 있습니다.

Le Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) a annoncé les détails de sa distribution de janvier 2025 dans le cadre de sa politique de distribution gérée. Le Fonds distribuera $0.0870 par action le 31 janvier 2025, se composant de 34.59% de revenus nets d'investissement ($0.0301) et 65.41% de remboursement de capital ($0.0569).

Les indicateurs de performance du Fonds montrent un rendement total cumulé depuis le début de l'année de 20.91% et un rendement total annuel moyen sur cinq ans de 6.40%. Le taux de distribution annualisé actuel est de 8.72% de la valeur liquidative. La politique de distribution gérée, mise en œuvre en décembre 2021, vise à fournir le potentiel de rendement total à long terme du Fonds grâce à des distributions mensuelles régulières à un taux fixe par action.

Der Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) hat die Einzelheiten der Ausschüttung für Januar 2025 im Rahmen seiner verwalteten Ausschüttungspolitik bekannt gegeben. Der Fonds wird am 31. Januar 2025 $0.0870 pro Aktie ausschütten, wobei 34.59% aus Nettoeinnahmen aus Anlagen ($0.0301) und 65.41% aus Kapitalrückzahlungen ($0.0569) bestehen.

Die Leistungskennzahlen des Fonds zeigen eine jährliche kumulierte Gesamtrendite von 20.91% und eine durchschnittliche jährliche Gesamtrendite von 6.40% über fünf Jahre. Die aktuelle annualisierte Ausschüttungsquote liegt bei 8.72% des NAV. Die verwaltete Ausschüttungspolitik, die im Dezember 2021 eingeführt wurde, zielt darauf ab, das langfristige Gesamtrenditepotenzial des Fonds durch regelmäßige monatliche Ausschüttungen zu einem festen Betrag pro Aktie zu liefern.

Positive
  • Strong year-to-date cumulative total return of 20.91%
  • Current annualized distribution rate of 8.72%
  • Five-year average annual total return of 6.40%
Negative
  • 65.41% of current distribution represents return of capital, not actual earnings
  • No realized capital gains included in current distribution

Insights

The latest distribution announcement from Cohen & Steers Closed-End Opportunity Fund reveals a complex financial picture that merits careful analysis. The $0.0870 per share monthly distribution comprises 34.59% from net investment income, but notably, 65.41% comes from return of capital - a significant detail that requires investor attention.

The high proportion of return of capital in the distribution is particularly noteworthy. While this isn't necessarily negative, it effectively means investors are receiving a portion of their own investment back rather than purely investment gains or income. This structure can be tax-efficient for investors but also suggests the fund's current distribution rate may not be fully supported by organic investment returns.

The fund's performance metrics paint an interesting picture: a substantial year-to-date total return of 20.91% and a five-year average annual return of 6.40%, while maintaining a current annualized distribution rate of 8.72%. The gap between the long-term return rate and the distribution rate raises questions about the long-term sustainability of the current distribution policy.

The managed distribution policy, implemented in December 2021, provides regular monthly payments but comes with specific considerations. The Board's ability to amend or suspend this policy introduces an element of uncertainty that investors should factor into their long-term planning. The high distribution rate may be attractive to income-focused investors, but they should understand that a significant portion represents return of capital, which reduces their cost basis rather than generating true investment income.

NEW YORK, Jan. 29, 2025 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Closed-End Opportunity Fund, Inc. (NYSE: FOF) (the "Fund") with information regarding the sources of the distribution to be paid on January 31, 2025 and cumulative distributions paid fiscal year-to-date.

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

January 2025

YEAR-TO-DATE (YTD)

January 31, 2025*

Source

Per Share
Amount

% of Current
Distribution

Per Share
Amount

% of 2025
Distributions

Net Investment Income

$0.0301

34.59 %

$0.0301

34.59 %

Net Realized Short-Term Capital Gains

$0.0000

0.00 %

$0.0000

0.00 %

Net Realized Long-Term Capital Gains

$0.0000

0.00 %

$0.0000

0.00 %

Return of Capital (or other Capital Source)

$0.0569

65.41 %

$0.0569

65.41 %

Total Current Distribution

$0.0870

100.00 %

$0.0870

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 2024 (January 1, 2024 through December 31, 2024) 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 2024. In addition, the Fund's Average Annual Total Return for the five-year period ending December 31, 2024 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2024. 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, 2024 to December 31, 2024

Year-to-date Cumulative Total Return1

20.91 %

Cumulative Distribution Rate2

0.73 %


Five-year period ending December 31, 2024

Average Annual Total Return3

6.40 %

Current Annualized Distribution Rate4

8.72 %



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 January 31, 2025) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of December 31, 2024.

3.

Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending December 31, 2024. 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 December 31, 2024.

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.

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 New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

Forward-Looking Statements
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.

Cision View original content:https://www.prnewswire.com/news-releases/cohen--steers-closed-end-opportunity-fund-inc-fof-notification-of-sources-of-distribution-under-section-19a-302363820.html

SOURCE Cohen & Steers, Inc.

FAQ

What is the composition of FOF's January 2025 distribution?

The January 2025 distribution of $0.0870 per share consists of $0.0301 (34.59%) from net investment income and $0.0569 (65.41%) from return of capital.

What is FOF's current annualized distribution rate?

The Fund's current annualized distribution rate is 8.72% of NAV as of December 31, 2024.

What was FOF's year-to-date total return for 2024?

The Fund achieved a year-to-date cumulative total return of 20.91% for the period from January 1, 2024 to December 31, 2024.

When did FOF implement its managed distribution policy?

The Fund implemented its managed distribution policy in December 2021 in accordance with SEC exemptive relief.

What is FOF's five-year average annual total return?

The Fund's five-year average annual total return for the period ending December 31, 2024 is 6.40%.

Cohen & Steers Inc.

NYSE:CNS

CNS Rankings

CNS Latest News

CNS Stock Data

4.56B
26.85M
46.74%
61.67%
3.18%
Asset Management
Investment Advice
Link
United States of America
NEW YORK