Principal Real Estate Income Fund Announces Notification of Sources of Distribution
The Principal Real Estate Income Fund (NYSE:PGZ) has announced the sources of its distribution paid on September 30, 2024, of $0.1050 per share to shareholders of record as of September 16, 2024. The distribution breakdown is as follows:
- 45.90% from Net Investment Income
- 54.10% from Return of Capital or other Capital Source
The Fund's fiscal year-to-date cumulative distribution shows similar proportions. The Fund estimates it has distributed more than its income, indicating a portion of the distribution may be a return of capital. The annualized distribution rate is 10.54% of NAV, with a cumulative total return on NAV of 35.03% for the fiscal year-to-date. However, the average annual total return on NAV for the 5-year period ended August 31, 2024, is -2.52%.
Il Principal Real Estate Income Fund (NYSE:PGZ) ha annunciato le fonti della distribuzione pagata il 30 settembre 2024, di $0.1050 per azione agli azionisti registrati al 16 settembre 2024. La suddivisione della distribuzione è la seguente:
- 45,90% da Reddito Netto da Investimento
- 54,10% da Ritorno di Capitale o altra Fonte di Capitale
La distribuzione cumulativa dall'inizio dell'anno fiscale del Fondo mostra proporzioni simili. Il Fondo stima di aver distribuito più del suo reddito, indicando che una parte della distribuzione potrebbe essere un ritorno di capitale. Il tasso di distribuzione annualizzato è del 10,54% del NAV, con un ritorno totale cumulativo sul NAV di 35,03% dall'inizio dell'anno fiscale. Tuttavia, il ritorno totale annuale medio sul NAV per il periodo di 5 anni terminato il 31 agosto 2024 è del -2,52%.
El Principal Real Estate Income Fund (NYSE:PGZ) ha anunciado las fuentes de su distribución pagada el 30 de septiembre de 2024, de $0.1050 por acción a los accionistas registrados hasta el 16 de septiembre de 2024. La descomposición de la distribución es la siguiente:
- 45,90% de Ingresos Netos de Inversión
- 54,10% de Devolución de Capital u otra Fuente de Capital
La distribución acumulativa del Fondo hasta la fecha del año fiscal muestra proporciones similares. El Fondo estima que ha distribuido más de sus ingresos, lo que indica que una parte de la distribución puede ser una devolución de capital. La tasa de distribución anualizada es del 10,54% del NAV, con un retorno total acumulativo sobre el NAV del 35,03% para el año fiscal hasta la fecha. Sin embargo, el retorno total anual promedio sobre el NAV para el período de 5 años que finalizó el 31 de agosto de 2024 es del -2,52%.
Principal Real Estate Income Fund (NYSE:PGZ)는 2024년 9월 30일에 주당 $0.1050의 배당금 지급 출처를 발표했습니다. 등록 주주 기준일은 2024년 9월 16일입니다. 배당금의 구성은 다음과 같습니다:
- 45.90%는 순 투자 소득에서
- 54.10%는 자본 회수 또는 기타 자본 출처에서
펀드의 회계 연도 누적 배당은 유사한 비율을 보여줍니다. 펀드는 소득보다 더 많은 배당금을 지급한 것으로 추정되며, 이는 일부 배당금이 자본 회수일 수 있음을 나타냅니다. 연간 배당률은 NAV의 10.54%이며, 회계 연도 누적 총 수익은 NAV의 35.03%입니다. 그러나 2024년 8월 31일로 종료된 5년 기간의 NAV에 대한 평균 연간 총 수익률은 -2.52%입니다.
Le Principal Real Estate Income Fund (NYSE:PGZ) a annoncé les sources de sa distribution payée le 30 septembre 2024, de $0.1050 par action aux actionnaires enregistrés au 16 septembre 2024. La répartition de la distribution est la suivante :
- 45,90% provenant des Revenus Net d'Investissement
- 54,10% provenant du Remboursement de Capital ou d'une autre Source de Capital
La distribution cumulative depuis le début de l'année fiscale du Fonds montre des proportions similaires. Le Fonds estime avoir distribué plus que ses revenus, indiquant qu'une partie de la distribution pourrait être un remboursement de capital. Le taux de distribution annualisé est de 10,54% du NAV, avec un rendement total cumulé sur le NAV de 35,03% depuis le début de l'année fiscale. Cependant, le rendement total annuel moyen sur le NAV pour la période de 5 ans prenant fin le 31 août 2024 est de -2,52%.
Der Principal Real Estate Income Fund (NYSE:PGZ) hat die Quellen seiner Ausschüttung bekannt gegeben, die am 30. September 2024 in Höhe von $0.1050 pro Aktie an die Aktionäre ausgezahlt wird, die am 16. September 2024 registriert sind. Die Aufschlüsselung der Ausschüttung ist wie folgt:
- 45,90% von Nettoinvestitionseinkommen
- 54,10% von Rückzahlung des Kapitals oder anderer Kapitalquellen
Die kumulierte Ausschüttung des Fonds seit Beginn des Geschäftsjahres zeigt ähnliche Proportionen. Der Fonds schätzt, dass er mehr ausgeschüttet hat als sein Einkommen, was darauf hindeutet, dass ein Teil der Ausschüttung eine Rückzahlung des Kapitals sein könnte. Der annualisierte Ausschüttungssatz beträgt 10,54% des NAV, mit einer kumulierten Gesamtrendite auf den NAV von 35,03% für das Geschäftsjahr bis heute. Der durchschnittliche jährliche Gesamtertrag auf den NAV für den 5-Jahres-Zeitraum, der am 31. August 2024 endete, beträgt jedoch -2,52%.
- Distribution of $0.1050 per share paid to shareholders
- 45.90% of distribution from Net Investment Income
- Annualized distribution rate of 10.54% of NAV
- Cumulative total return on NAV of 35.03% for fiscal year-to-date
- 54.10% of distribution from Return of Capital or other Capital Source
- Fund has distributed more than its income, indicating potential return of capital
- Average annual total return on NAV for 5-year period is -2.52%
Insights
This distribution announcement provides key insights into the Principal Real Estate Income Fund's (PGZ) financial performance and distribution strategy. The fund's current distribution of
The fund's annualized distribution rate of
Investors should note the cumulative total return of
The tax implications of this distribution are significant for investors. With
The fund's statement that it has "distributed more than its income" is a red flag for tax-efficient investing. While this may provide a tax-deferred benefit in the short term, it could lead to a larger tax burden in the future. Investors should be cautious about funds consistently returning capital, as it may indicate an unsustainable distribution policy.
It's important to note that the final tax character of the distribution won't be determined until January 2025. This uncertainty adds complexity to tax planning for investors, especially those relying on the fund for regular income. Shareholders should consult with tax professionals to fully understand the implications on their individual tax situations.
Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles ("GAAP"), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.
Current Distribution from: | ||
Per Share ($) | % | |
Net Investment Income | 0.0482 | 45.90 % |
Net Realized Short-Term Capital Gain | 0.0000 | 0.00 % |
Net Realized Long-Term Capital Gain | 0.0000 | 0.00 % |
Return of Capital or other Capital Source | 0.0568 | 54.10 % |
Total (per common share) | 0.1050 | 100.00 % |
Fiscal Year-to-Date Cumulative | ||
Distributions from: | ||
Per Share ($) | % | |
Net Investment Income | 0.5331 | 46.16 % |
Net Realized Short-Term Capital Gain | 0.0000 | 0.00 % |
Net Realized Long-Term Capital Gain | 0.0000 | 0.00 % |
Return of Capital or other Capital Source | 0.6219 | 53.84 % |
Total (per common share) | 1.1550 | 100.00 % |
The Fund estimates that it has distributed more than its income; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.
The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations, which may differ from GAAP. As such, all or a portion of this distribution may be reportable as taxable income on your 2024 federal income tax return. The final tax character of any distribution declared in 2024 will be determined in January 2025 and reported to you on IRS Form 1099-DIV.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Presented below are return figures, based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last day of the month prior to distribution record date.
Fund Performance & Distribution Information
Fiscal YTD (11/1/23 – 8/31/24) | |
Annualized Distribution Rate as % of NAV^ | 10.54 % |
Cumulative Distribution Rate on NAV^ | 9.66 % |
Cumulative Total Return on NAV* | 35.03 % |
Average Annual Total Return on NAV for the 5 Year Period Ended 8/31/2024** | -2.52 % |
^ Based on the Fund's NAV as of August 31, 2024.
*Cumulative fiscal year-to-date return is based on the change in NAV including distributions paid and assuming reinvestment of these distributions for the period November 1, 2023 through August 31, 2024.
**The 5 year average annual total return is based on change in NAV including distributions paid and assuming reinvestment of these distributions and is through the last business day of the month prior to the month of the current distribution record date.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. Past performance does not guarantee future results. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
Please retain this document for your records.
ALPS Advisors, Inc. is the investment adviser to the Fund.
Principal Real Estate Investors LLC is the investment sub-adviser to the Fund. Principal Real Estate Investors LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member.
PRE000428 9/30/2025
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SOURCE Principal Real Estate Income Fund
FAQ
What is the distribution amount per share for Principal Real Estate Income Fund (PGZ) on September 30, 2024?
What percentage of PGZ's distribution comes from Net Investment Income?
What is the annualized distribution rate as a percentage of NAV for PGZ?
What is the 5-year average annual total return on NAV for PGZ as of August 31, 2024?
