NEUBERGER BERMAN ENERGY INFRASTRUCTURE AND INCOME FUND ANNOUNCES MONTHLY DISTRIBUTION

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Neuberger Berman Energy Infrastructure and Income Fund Inc. (NYSE American: NML) has declared a distribution of $0.0584 per share of common stock. The distribution is payable on November 30, 2023, with a record date of November 15, 2023, and an ex-date of November 14, 2023. The Fund intends to make regular monthly cash distributions to holders of its common stock based on the projected net rate of return of its investments.

NEW YORK, Oct. 31, 2023 /PRNewswire/ -- Neuberger Berman Energy Infrastructure and Income Fund Inc. (NYSE American: NML) (the "Fund") has announced a distribution declaration of $0.0584 per share of common stock. The distribution announced today is payable on November 30, 2023, has a record date of November 15, 2023 and has an ex-date of November 14, 2023.

The Fund currently intends to make regular monthly cash distributions to holders of its common stock at a fixed rate per share, to be determined based on the projected net rate of return of the Fund's investments as well as other factors, subject to ongoing review and adjustment from time to time.  The Fund currently intends to pay its regular monthly distributions out of its distributable cash flow, which generally consists of (1) cash and paid-in-kind distributions from master limited partnerships ("MLPs") or their affiliates, dividends from common stocks, interest from debt instruments and income from other investments held by the Fund less (2) current or accrued operating expenses, including leverage costs, if any, and taxes on its taxable income.  

The Fund expects that a portion of its distributions to stockholders will constitute a non-taxable return of capital. A "return of capital" is a distribution by the Fund which represents a return of a common stockholder's original investment, and should not be confused with a dividend.  To the extent the Fund pays a return of capital, a common stockholder's basis in Fund shares will be reduced, which will increase a capital gain or reduce a capital loss upon sale of those shares.  There is no assurance that the Fund will always be able to pay a distribution of any particular amount, or that a distribution will consist solely of the Fund's current and accumulated earnings and profits. 

In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2023 will be made after the end of the year.

The Fund is subject to federal income tax on its taxable income, unlike most investment companies. Any taxes paid by the Fund will reduce the amount available to pay distributions to stockholders, and therefore investors in the Fund will likely receive lower distributions than if they invested directly in MLPs.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. Neuberger Berman's investment philosophy is founded on active management, engaged ownership and fundamental research, including industry-leading research into material environmental, social and governance factors. Neuberger Berman is a PRI Leader, a designation awarded to fewer than 1% of investment firms. With offices in 26 countries, the firm's diverse team has over 2,750 professionals. For nine consecutive years, Neuberger Berman has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). The firm manages $439 billion in client assets as of September 30, 2023. For more information, please visit our website at www.nb.com.

Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.

Contact:   
Neuberger Berman Investment Advisers LLC   
Investor Information
(877) 461-1899

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SOURCE Neuberger Berman

FAQ

What is the distribution declared by Neuberger Berman Energy Infrastructure and Income Fund Inc.?

The Fund has declared a distribution of $0.0584 per share of common stock.

When is the distribution payable?

The distribution is payable on November 30, 2023.

What is the record date for the distribution?

The record date for the distribution is November 15, 2023.

What is the ex-date for the distribution?

The ex-date for the distribution is November 14, 2023.

How does the Fund determine the rate of distribution?

The Fund determines the rate of distribution based on the projected net rate of return of its investments.

What is the source of the Fund's regular monthly distributions?

The Fund pays its regular monthly distributions out of its distributable cash flow, which includes cash and paid-in-kind distributions from master limited partnerships, dividends from common stocks, interest from debt instruments, and income from other investments held by the Fund.

What is a 'return of capital' distribution?

A 'return of capital' distribution represents a return of a common stockholder's original investment and should not be confused with a dividend.

Will the Fund always be able to pay a distribution of any particular amount?

There is no assurance that the Fund will always be able to pay a distribution of any particular amount.

What will be the tax characteristics of the distributions paid in 2023?

The final determination of the source and tax characteristics of all distributions paid in 2023 will be made after the end of the year.

How does the Fund's taxation affect distributions to stockholders?

The Fund is subject to federal income tax on its taxable income, which may result in lower distributions to stockholders compared to investing directly in MLPs.