NEUBERGER BERMAN REAL ESTATE SECURITIES INCOME FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) has declared a monthly distribution of $0.0312 per share of common stock, payable on July 31, 2024, with a record date of July 15, 2024. The Fund anticipates making regular monthly distributions of $0.0312 per share, subject to market conditions. The source of these distributions may include net investment income, net realized capital gains, and return of capital. The Fund’s ability to maintain this distribution rate will depend on factors like income stability from investments, capital gains availability, leverage use, and associated costs. Compliance with the Investment Company Act of 1940 mandates that a notice be given for distributions not solely from net investment income, detailing the estimated portions of the distribution sources. Final determination of the source and tax characteristics of all 2024 distributions will be made post-year-end.

Positive

• Announcement of a stable monthly distribution of $0.0312 per share, payable on July 31, 2024.
• Commitment to regular monthly distributions, subject to market conditions.

Negative

• Uncertainty in maintaining the distribution rate due to reliance on investment income stability, capital gains, leverage use, and cost of leverage.
• Potential variability in the sources of distributions, which may include return of capital, posing tax implications.

NEW YORK, June 28, 2024 /PRNewswire/ -- Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE American: NRO) (the "Fund") has announced a distribution declaration of $0.0312 per share of common stock. The distribution announced today is payable on July 31, 2024, has a record date of July 15, 2024, and has an ex-date of July 15, 2024.

Under its level distribution policy, the Fund anticipates that it will make regular monthly distributions, subject to market conditions, of $0.0312 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 fees and expenses.

The distribution announced today, as well as future distributions, may consist of net investment income, net 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 2024 will be made after the end of the year.

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $474 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman's investment philosophy is founded on active management, fundamental research and engaged ownership. UNPRI named the firm a Leader, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2024.

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 declared by Neuberger Berman Real Estate Securities Income Fund (NRO)?

The latest distribution declared by Neuberger Berman Real Estate Securities Income Fund (NRO) is $0.0312 per share of common stock.

When is the distribution payable for NRO's June 28, 2024 announcement?

The distribution is payable on July 31, 2024.

What is the record date for Neuberger Berman Real Estate Securities Income Fund's (NRO) latest distribution?

The record date for the latest distribution is July 15, 2024.

What factors affect Neuberger Berman Real Estate Securities Income Fund’s (NRO) ability to maintain its distribution rate?

Factors include the stability of income from investments, availability of capital gains, use and cost of leverage, and fund fees and expenses.

What are the possible sources of NRO's distributions?

Distributions may consist of net investment income, net realized capital gains, and return of capital.

What compliance measure is in place for NRO's distributions under the Investment Company Act of 1940?

A notice is required for any distribution not solely from net investment income, detailing the estimated portions of the distribution.

When will the final determination of the source and tax characteristics of NRO's 2024 distributions be made?

The final determination will be made after the end of the year 2024.