Neuberger Berman Real Estate Securities Income Fund Announces Monthly Distribution

Rhea-AI Summary

Neuberger Berman Real Estate Securities Income Fund (NYSE: NRO) has declared a monthly distribution of $0.04 per share, payable on August 31, 2020. The record date is set for August 17, 2020, and the ex-date is August 14, 2020. Although the Fund plans to maintain this distribution rate, future payments depend on various factors including investment income stability, capital gains, and leverage costs. Distributions might consist of net investment income, realized capital gains, and return of capital, with final tax characteristics determined at year-end.

Positive

• Monthly distribution rate of $0.04 per share reflects the Fund's commitment to returning value to shareholders.
• The Fund's diversified investment strategies may support future distributions.

Negative

• Future distribution payments are not guaranteed and depend on income stability and market conditions.
• Potential risks include adverse effects from market declines or competition from other investment companies.

NEW YORK, July 31, 2020 /PRNewswire/ -- Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE American: NRO) (the "Fund") has announced a distribution declaration of $0.04 per share of common stock. The distribution announced today is payable on August 31, 2020, has a record date of August 17, 2020 and has an ex-date of August 14, 2020.

Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of $0.04 per share of common stock, unless further action is taken to determine another amount. 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 of only net investment income. The Fund's ability to maintain its current distribution rate will depend on a number of factors, including the amount and stability of income received from its investments, availability of capital gains, the amount of leverage employed by the Fund, the cost of leverage and the level of other Fund expenses.

The distribution announced today, as well as future distributions, may consist of net investment income, realized capital gains and return of capital. 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 2020 will be made after the end of the year.

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. With offices in 24 countries, Neuberger Berman's diverse team has 2,300 professionals. For six consecutive years, the company 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 was awarded an A+ in every category in the latest 2019 PRI report for our approach to ESG integration across asset classes. The firm manages $357 billion in client assets as of June 30, 2020. 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 amount announced by Neuberger Berman Real Estate Securities Income Fund (NRO)?

The Fund has announced a distribution of $0.04 per share.

When is the distribution for NRO payable?

The distribution is payable on August 31, 2020.

What are the key dates for the distribution announcement of NRO?

The record date is August 17, 2020, and the ex-date is August 14, 2020.

Is the distribution for NRO guaranteed?

No, the Fund's ability to maintain the distribution rate depends on investment income stability and market conditions.

What factors could affect the distribution payments of NRO?

Factors include the amount and stability of income, availability of capital gains, leverage employed, and other Fund expenses.