NEUBERGER BERMAN REAL ESTATE SECURITIES INCOME FUND ANNOUNCES MONTHLY DISTRIBUTION

Rhea-AI Summary

Neuberger Berman Real Estate Securities Income Fund (NYSE American: NRO) declared a monthly distribution of $0.0312 per share, payable on October 31, 2022. The record date is set for October 17, 2022, with an ex-date of October 14, 2022. While the Fund plans to maintain this distribution rate, it states that various factors may affect its ability to do so, including income stability and costs. Future distributions may consist of net investment income, capital gains, and return of capital, with final tax characteristics determined at the end of the year.

Positive

• Monthly distribution of $0.0312 per share declared.
• Regular distributions anticipated, subject to market conditions.

Negative

• Uncertainty around the ability to maintain distribution rate due to market factors.
• Future distributions may not solely be from net investment income.

NEW YORK, Sept. 30, 2022 /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 October 31, 2022, has a record date of October 17, 2022 and has an ex-date of October 14, 2022.

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 2022 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 25 countries, Neuberger Berman's diverse team has over 2,500 professionals. For eight 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). Neuberger Berman is a PRI Leader, a designation, since last assessed, that was awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. In the 2021 PRI Assessment, the firm obtained the highest possible scoring for its overarching approach to ESG investment and stewardship, and integration across asset classes. The firm manages $418 billion in client assets as of June 30, 2022. 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 recent distribution amount announced for NRO?

Neuberger Berman announced a distribution of $0.0312 per share for NRO.

When is the distribution for NRO payable?

The distribution for NRO is payable on October 31, 2022.

What are the key dates related to the NRO distribution?

The record date is October 17, 2022, and the ex-date is October 14, 2022.

Can NRO guarantee future distributions?

No, the Fund cannot guarantee it will maintain the current distribution rate.

What factors affect NRO's distribution payments?

Factors include investment income stability, capital gains, leverage costs, and other fees.