Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. Announces Approval of Fund Liquidation
Cohen & Steers MLP Income and Energy Opportunity Fund (NYSE: MIE) announced the approval of its liquidation and dissolution as of June 30, 2021. The effective date for determining stockholders entitled to liquidating distributions is set for August 6, 2021, with the last trading day on the NYSE being August 2, 2021. Post-approval, the Fund will deviate from its investment policies as it sells its portfolio securities for liquidation. Stockholders may experience tax implications as a result of the liquidation. The Fund will not declare future dividends.
- Approval of Fund liquidation allows for asset distribution to stockholders.
- Potential for stockholders to recognize liquidating distributions.
- The Fund will stop trading on the NYSE on August 2, 2021, impacting liquidity.
- No future dividends will be declared, affecting income for stockholders.
NEW YORK, June 30, 2021 /PRNewswire/ -- Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (NYSE: MIE; the "Fund"), announced today the results of the special meeting held on June 30, 2021, where stockholders approved the liquidation and dissolution of the Fund.
The Fund has fixed the close of business on August 6, 2021 as the effective date for determining the stockholders of the Fund that will be entitled to receive liquidating distributions. The Fund may make more than one liquidating distribution. It is anticipated that liquidating distributions will begin being paid after close of business on August 6, 2021 (the "Closing Date"). The Fund's last day of trading on the New York Stock Exchange will be August 2, 2021, after which time there will be no secondary market for the Fund's shares.
Until the Closing Date, the Fund is expected to deviate from its investment objectives and investment policies and the Fund's investment restrictions will not apply as the Fund's portfolio will be managed in anticipation of the liquidation and the Fund's portfolio securities will be sold. In addition, the Fund will not declare any future dividends as a result of the pending liquidation.
Stockholders may recognize a gain or loss for U.S. tax purposes as a result of the liquidation. Stockholders should consult a professional tax advisor regarding their specific tax situation.
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 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 and Tokyo.
Additional Information about the Fund and the Liquidation
This press release is for informational purposes only and is not intended to, and does not, constitute an offer to purchase or sell shares of the Fund.
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.
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SOURCE Cohen & Steers, Inc.
FAQ
What is the effective date for the liquidation of Cohen & Steers MLP Income and Energy Opportunity Fund (MIE)?
When will the last day of trading be for the Cohen & Steers MLP Income and Energy Opportunity Fund (MIE)?
Will stockholders receive dividends during the liquidation of the Fund?
What are stockholders advised to do regarding tax implications from the Fund's liquidation?
