Principal Real Estate Income Fund Announces Notification of Sources of Distribution
The Principal Real Estate Income Fund (NYSE:PGZ) has announced its distribution sources for the payment of $0.1050 per share on August 30, 2024. The distribution breakdown is as follows:
- 34.00% from Net Investment Income
- 66.00% from Return of Capital or other Capital Source
The Fund's fiscal year-to-date cumulative distribution shows 46.17% from Net Investment Income and 53.83% from Return of Capital. The Fund's annualized distribution rate is 10.86% of NAV, with a cumulative total return on NAV of 29.74% for the fiscal year. However, the 5-year average annual total return on NAV is -2.67%. Shareholders are cautioned that the distribution may include a return of capital, which does not reflect the Fund's investment performance.
Il Principal Real Estate Income Fund (NYSE:PGZ) ha annunciato le sue fonti di distribuzione per il pagamento di $0,1050 per azione il 30 agosto 2024. La ripartizione della distribuzione è la seguente:
- 34,00% da reddito da investimento netto
- 66,00% da restituzione di capitale o altre fonti di capitale
La distribuzione cumulativa dall'inizio dell'anno fiscale del Fondo mostra il 46,17% da reddito da investimento netto e il 53,83% da restituzione di capitale. Il tasso di distribuzione annualizzato del Fondo è 10,86% del NAV, con un rendimento totale cumulativo sul NAV di 29,74% per l'anno fiscale. Tuttavia, il rendimento totale medio annuale su 5 anni sul NAV è -2,67%. Si avverte agli azionisti che la distribuzione potrebbe includere una restituzione di capitale, che non riflette le prestazioni di investimento del Fondo.
El Principal Real Estate Income Fund (NYSE:PGZ) ha anunciado sus fuentes de distribución para el pago de $0.1050 por acción el 30 de agosto de 2024. La distribución se desglosa de la siguiente manera:
- 34.00% de Ingresos Netos de Inversión
- 66.00% de Devolución de Capital u otra Fuente de Capital
La distribución acumulativa del Fondo hasta la fecha muestra un 46.17% de Ingresos Netos de Inversión y un 53.83% de Devolución de Capital. La tasa de distribución anualizada del Fondo es 10.86% del NAV, con un retorno total acumulado sobre el NAV de 29.74% para el año fiscal. Sin embargo, el retorno total anual promedio a 5 años sobre el NAV es -2.67%. Se advierte a los accionistas que la distribución puede incluir una devolución de capital, lo que no refleja el rendimiento de inversión del Fondo.
프린시펄 리얼 이스테이트 인컴 펀드(Principal Real Estate Income Fund, NYSE:PGZ)는 2024년 8월 30일에 주당 $0.1050의 지급을 위한 배당 소스를 발표했습니다. 배당 breakdown은 다음과 같습니다:
- 34.00%는 순투자소득에서
- 66.00%는 자본환급 또는 기타 자본 출처에서
펀드의 회계연도 누적 배당금은 순투자소득에서 46.17% 및 자본환급에서 53.83%를 차지하고 있습니다. 펀드의 연간 배당률은 10.86% NAV의 비율이며, 회계연도 기준으로 NAV에 대한 누적 총 수익률은 29.74%입니다. 그러나 5년 평균 연간 총 수익률은 -2.67%입니다. 주주들에게 배당금에는 자본 반환이 포함될 수 있으며, 이는 펀드의 투자 성과를 반영하지 않는다는 경고가 주어집니다.
Le Principal Real Estate Income Fund (NYSE:PGZ) a annoncé ses sources de distribution pour le paiement de $0,1050 par action le 30 août 2024. La répartition de la distribution est la suivante :
- 34,00 % provenant des Revenus d'Investissement Nets
- 66,00 % provenant du Remboursement de Capital ou d'autres Sources de Capital
La distribution cumulée du Fonds depuis le début de l'année fiscale montre 46,17 % provenant des Revenus d'Investissement Nets et 53,83 % provenant du Remboursement de Capital. Le taux de distribution annualisé du Fonds est de 10,86 % du NAV, avec un rendement total cumulé sur le NAV de 29,74 % pour l'exercice fiscal. Cependant, le rendement total annuel moyen sur 5 ans du NAV est de -2,67 %. Les actionnaires sont avertis que la distribution peut inclure un remboursement de capital, ce qui ne reflète pas la performance d'investissement du Fonds.
Der Principal Real Estate Income Fund (NYSE:PGZ) hat seine Verteilungsquellen für die Zahlung von $0,1050 pro Aktie am 30. August 2024 bekannt gegeben. Die Aufschlüsselung der Verteilung ist wie folgt:
- 34,00% aus Nettoanlageerträgen
- 66,00% aus Rückzahlung von Kapital oder anderen Kapitalquellen
Die kumulierte Verteilung des Fonds seit Jahresbeginn zeigt 46,17% aus Nettoanlageerträgen und 53,83% aus Rückzahlung von Kapital. Die annualisierte Ausschüttungsquote des Fonds beträgt 10,86% des NAV, mit einer kumulierten Gesamtrendite des NAV von 29,74% für das Geschäftsjahr. Der durchschnittliche jährliche Gesamtertrag auf 5 Jahre beträgt jedoch -2,67%. Die Aktionäre werden gewarnt, dass die Ausschüttung eine Rückzahlung von Kapital enthalten kann, die nicht die Anlageergebnisse des Fonds widerspiegelt.
- Cumulative total return on NAV for the fiscal year-to-date is 29.74%
- Annualized distribution rate is 10.86% of NAV
- 34% of the current distribution comes from Net Investment Income
- 66% of the current distribution is from Return of Capital, potentially indicating insufficient earnings
- 5-year average annual total return on NAV is -2.67%, showing long-term underperformance
- The Fund estimates it has distributed more than its income, suggesting unsustainable distribution levels
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 | 0.0357 | 34.00 % |
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 | 0.0693 | 66.00 % |
Total (per common share) | 0.1050 | 100.00 % |
Fiscal Year-to-Date Cumulative | ||
Distributions from: | ||
Per Share ($) | % | |
Net Investment Income | 0.4848 | 46.17 % |
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 | 0.5652 | 53.83 % |
Total (per common share) | 1.0500 | 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 – 7/31/24) | |
Annualized Distribution Rate as % of NAV^ | 10.86 % |
Cumulative Distribution Rate on NAV^ | 9.05 % |
Cumulative Total Return on NAV* | 29.74 % |
Average Annual Total Return on NAV for the 5 Year Period Ended 7/31/2024** | -2.67 % |
^ Based on the Fund's NAV as of July 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 July 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.
PRE000423 8/31/2025
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SOURCE Principal Real Estate Income Fund
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