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Cohen & Steers Select Preferred and Income Fund Inc. (symbol: PSF) is a diversified closed-end investment company that focuses on generating high current income and capital appreciation. The Fund invests primarily in preferred and other income securities issued by both U.S. and non-U.S. companies.
Founded in 1986, Cohen & Steers is a global investment manager specializing in liquid real assets, such as real estate securities, listed infrastructure, commodities, and natural resource equities. The firm also offers preferred securities and various income solutions. With headquarters in New York City, Cohen & Steers operates additional offices in London, Hong Kong, Tokyo, and Seattle.
The Fund recently announced significant changes to its distribution policies. As of July 1, 2023, the Board of Directors approved a new policy aimed at maintaining regular monthly distributions at a level rate. This policy replaces the managed distribution plan implemented in December 2016. The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income, and/or return of capital for federal income tax purposes.
The Fund has disclosed that a portion of its distributions may exceed its income and capital gains, potentially resulting in a return of capital. Shareholders will receive a Form 1099-DIV at the close of each calendar year detailing how to report these distributions for federal income tax purposes. Information on the composition of each monthly distribution is made available on the Fund's website and is shared with shareholders via mail.
For the fiscal year 2023, the Fund's Year-to-date Cumulative Total Return and the Average Annual Total Return for the five-year period ending May 31, 2023, have been disclosed. These returns are based on the Fund's net asset value (NAV), which is calculated as the total market value of all securities and other assets held by the Fund minus total liabilities, divided by the total number of shares outstanding. It's important to note that NAV performance may indicate the Fund's investment performance but does not measure an individual shareholder's investment value, which is determined by the market price of the Fund's shares.
Investors are advised to carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. Regulatory filings and the most recent periodic reports are available through financial advisors or the Fund's website. Shareholders should not use distribution information from the Fund for tax return preparation as they will receive an annual Form 1099-DIV for this purpose.
Cohen & Steers is committed to transparency and providing updates on any changes to distribution policies or significant developments. The company continues to be a leader in the investment management sector, specializing in real assets and alternative income solutions.
The press release from Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) details the distribution sources for shareholders, payable on March 31, 2023. The Fund follows a managed distribution policy initiated in December 2016, enabling regular monthly distributions to enhance total return potential. The current monthly distribution is $0.1350 per common share, comprising $0.1001 net investment income, $0.0349 return of capital, and no capital gains. For fiscal year-to-date, total distributions amount to $0.4050 per share. The Year-to-date Cumulative Total Return stands at 7.26%, with a Current Annualized Distribution Rate of 7.47%. Investors are advised to refer to the Fund's website for further details.
The press release from Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE: PSF), dated February 27, 2023, provides details about the sources of a distribution to be paid on February 28, 2023. The Fund operates under a managed distribution policy, aiming for consistent monthly distributions while allowing for capital gain realization throughout the year. The February 2023 distribution is $0.1350 per share, comprising 83.55% net investment income and a return of capital of $0.0222. The Fund's year-to-date cumulative return stands at 9.32%, with a cumulative distribution rate of 1.21% from January 1 to January 31, 2023. Shareholders will receive Form 1099-DIV for tax reporting.
This press release from Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE: PSF) details the payment of monthly distributions scheduled for January 31, 2023. The Fund has a managed distribution policy, allowing it to deliver consistent monthly distributions while potentially realizing long-term capital gains throughout the year. In the current distribution, $0.1350 per share is allocated from net investment income ($0.0963, 71.33%) and a return of capital ($0.0387, 28.67%). The Fund's cumulative total return for 2022 is reported at -14.89%, with an average annual total return of 1.90% over five years. Shareholders will receive tax reporting via Form 1099-DIV.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced its distribution sources for November 30, 2022. The Fund employs a managed distribution policy, allowing for flexibility in delivering long-term capital gains through regular monthly distributions. The current distribution totals $0.1350 per share, comprising net investment income (88.81%), along with a small portion as return of capital (11.19%). The Fund reports a -17.24% year-to-date cumulative total return, with a cumulative distribution rate of 7.36% for 2022.
Cohen & Steers Select Preferred and Income Fund (PSF) announced the distribution details for October 31, 2022. This communication informs shareholders about the distribution sources, which include net investment income and return of capital. The Fund operates under a managed distribution policy, allowing for flexibility in capital gains realization. The year-to-date cumulative total return is reported at -17.22%, while the current annualized distribution rate stands at 7.96%. Shareholders will receive a Form 1099-DIV to report distributions for tax purposes.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced details regarding its upcoming distribution scheduled for September 30, 2022, under its managed distribution policy initiated in December 2016. This policy aims to offer regular monthly distributions while allowing the Fund flexibility to realize long-term capital gains. For September 2022, the total current distribution per share is $0.1350. Cumulative Year-to-Date distributions amount to $1.2150, marking a distribution rate of 5.61%. Notably, the Fund's Year-to-date cumulative total return is reported at -12.53%.
The press release informs shareholders of Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) about the August 31, 2022 distribution sources. The Fund employs a managed distribution policy to provide regular monthly payments. The current distribution totals $0.1350 per share, with 84.37% derived from net investment income. Cumulative total return for fiscal 2022 is reported at -11.13%, while the current annualized distribution rate is 7.32%. Shareholders should be aware that distribution amounts may vary and include returns of capital, which are not taxable but reduce their tax basis.
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