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 October 30, 2020. The record date is October 15, 2020, and the ex-date is October 14, 2020. The Fund anticipates maintaining this distribution level but warns that it may vary based on investment income stability, capital gains, and expenses. Future distributions could include net investment income, realized capital gains, or return of capital, with final tax characteristics determined post-2020.

Positive

• Monthly distribution of $0.04 per share indicates stability.
• The Fund's level distribution policy ensures regular payments.

Negative

• The ability to maintain distribution depends on unstable factors like investment income and market conditions.
• Future distributions may not consist solely of net investment income.

NEW YORK, Sept. 30, 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 October 30, 2020, has a record date of October 15, 2020 and has an ex-date of October 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 2020 Principles for Responsible Investment (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 latest distribution announcement for NRO?

Neuberger Berman Real Estate Securities Income Fund (NRO) announced a distribution of $0.04 per share, payable on October 30, 2020.

What are the record and ex-dates for NRO's distribution?

The record date is October 15, 2020, and the ex-date is October 14, 2020.

How often does NRO make distributions?

NRO anticipates making regular monthly distributions of $0.04 per share.

What factors affect NRO's distribution payments?

The distribution payments depend on income stability, capital gains, leverage costs, and other Fund expenses.

Can NRO guarantee its distribution rate?

No, NRO cannot guarantee consistent distribution rates due to varying market conditions and income stability.