Cohen & Steers Total Return Realty Fund, Inc. (RFI) Notification of Sources of Distribution Under Section 19(a)
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) has announced its distribution for August 30, 2024, under its managed distribution policy. The policy aims to deliver the Fund's long-term total return potential through regular monthly distributions. The current distribution of $0.0800 per share includes:
- 14.38% from Net Investment Income
- 6.24% from Net Realized Short-Term Capital Gains
- 38.38% from Net Realized Long-Term Capital Gains
- 41.00% from Return of Capital
The Fund's Year-to-date Cumulative Total Return is 5.34%, with a Cumulative Distribution Rate of 5.33%. The Five-year Average Annual Total Return is 5.67%, and the Current Annualized Distribution Rate is 8.00%. Shareholders are advised that the distribution may include a return of capital, which is not taxable but reduces the shareholder's tax basis in Fund shares.
Il Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) ha annunciato la sua distribuzione per il 30 agosto 2024, secondo la sua politica di distribuzione gestita. Questa politica mira a fornire il potenziale di rendimento totale a lungo termine del Fondo attraverso distribuzioni mensili regolari. La distribuzione attuale è di $0.0800 per azione e include:
- 14,38% da Reddito Netto di Investimento
- 6,24% da Guadagni in Capitale Realizzati a Breve Termine
- 38,38% da Guadagni in Capitale Realizzati a Lungo Termine
- 41,00% da Rimborso di Capitale
Il Rendimento Totale Cumulativo dall'inizio dell'anno è del 5,34%, con un Tasso di Distribuzione Cumulativo del 5,33%. Il Rendimento Totale Annuale Medio su cinque anni è del 5,67% e il Rendimento Annuale di Distribuzione Attuale è dell'8,00%. Si avvisa gli azionisti che la distribuzione potrebbe includere un rimborso di capitale, che non è tassabile ma riduce la base imponibile degli azionisti nelle azioni del Fondo.
El Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) ha anunciado su distribución para el 30 de agosto de 2024, bajo su política de distribución administrada. Esta política tiene como objetivo ofrecer el potencial de rendimiento total a largo plazo del Fondo a través de distribuciones mensuales regulares. La distribución actual es de $0.0800 por acción e incluye:
- 14.38% de Ingresos Netos por Inversión
- 6.24% de Ganancias de Capital Realizadas a Corto Plazo
- 38.38% de Ganancias de Capital Realizadas a Largo Plazo
- 41.00% de Devolución de Capital
El Rendimiento Total Acumulado año hasta la fecha es del 5.34%, con una Tasa de Distribución Acumulativa del 5.33%. El Rendimiento Total Anual Promedio a cinco años es del 5.67% y la Tasa de Distribución Anualizada Actual es del 8.00%. Se aconseja a los accionistas que la distribución puede incluir una devolución de capital, que no es imponible pero reduce la base imponible del accionista en las acciones del Fondo.
Cohen & Steers 총수익 부동산 펀드, Inc. (NYSE: RFI)는 관리된 분배 정책에 따라 2024년 8월 30일에 대한 분배를 발표했습니다. 이 정책은 정기적인 월별 분배를 통해 펀드의 장기 총수익 잠재력을 제공하는 것을 목표로 합니다. 현재 분배금은 주당 $0.0800입니다와 다음을 포함합니다:
- 순 투자 소득의 14.38%
- 단기 실현 자본 이득의 6.24%
- 장기 실현 자본 이득의 38.38%
- 자본 반환의 41.00%
펀드의 년초 누적 총수익률은 5.34%, 누적 분배율은 5.33%입니다. 5년 평균 연간 총수익률은 5.67%이며 현재 연율화 분배율은 8.00%입니다. 주주들에게 분배금에는 자본 반환이 포함될 수 있으며, 이는 과세되지 않지만 주주의 펀드 주식에 대한 과세 기준을 줄이는 역할을 합니다.
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) a annoncé sa distribution pour le 30 août 2024, dans le cadre de sa politique de distribution gérée. Cette politique vise à fournir le potentiel de rendement total à long terme du Fonds grâce à des distributions mensuelles régulières. La distribution actuelle est de 0,0800 $ par action et comprend :
- 14,38 % provenant du revenu net d'investissement
- 6,24 % provenant des gains en capital réalisés à court terme
- 38,38 % provenant des gains en capital réalisés à long terme
- 41,00 % provenant du remboursement de capital
Le rendement total cumulé depuis le début de l'année est de 5,34 %, avec un taux de distribution cumulé de 5,33 %. La rendement total annuel moyen sur cinq ans est de 5,67 % et le taux de distribution annualisé actuel est de 8,00 %. Les actionnaires sont informés que la distribution peut inclure un remboursement de capital, qui n'est pas imposable mais réduit la base d'imposition des actionnaires sur les actions du Fonds.
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) hat seine Ausschüttung für den 30. August 2024 im Rahmen seiner verwalteten Ausschüttungspolitik bekannt gegeben. Diese Politik zielt darauf ab, das langfristige Renditepotenzial des Fonds durch regelmäßige monatliche Ausschüttungen zu liefern. Die derzeitige Ausschüttung beträgt $0.0800 pro Aktie und umfasst:
- 14,38% aus Nettoanlageerträgen
- 6,24% aus realisierten kurzfristigen Kapitalgewinnen
- 38,38% aus realisierten langfristigen Kapitalgewinnen
- 41,00% aus Rückzahlung von Kapital
Die Jahreszinsgewinne bis heute beträgt 5,34%, mit einer kumulierten Ausschüttungsrate von 5,33%. Die durchschnittliche jährliche Gesamtrendite über fünf Jahre beträgt 5,67% und die aktuelle annualisierte Ausschüttungsrate beträgt 8,00%. Den Aktionären wird geraten, dass die Ausschüttung auch eine Rückzahlung von Kapital umfassen kann, die nicht versteuert wird, aber die Steuerbasis der Aktionäre an den Fondsanteilen verringert.
- Managed distribution policy provides regular monthly income to shareholders
- Year-to-date Cumulative Total Return of 5.34%
- Five-year Average Annual Total Return of 5.67%
- Current Annualized Distribution Rate of 8.00%
- 41% of the current distribution is classified as Return of Capital, potentially reducing shareholders' tax basis
- Fund estimates it has distributed more than its income and capital gains
Insights
This distribution announcement for Cohen & Steers Total Return Realty Fund (RFI) provides important insights into the fund's financial health and strategy. The fund's managed distribution policy, implemented in 2011, aims to deliver long-term total returns through regular monthly distributions. However, the current distribution breakdown raises some concerns:
- Only
14.38% of the distribution comes from net investment income - A significant
41% is classified as return of capital - Year-to-date,
38.16% of distributions have been return of capital
This high proportion of return of capital could indicate that the fund is struggling to generate sufficient income and capital gains to sustain its distribution rate. The fund's year-to-date total return of
The Cohen & Steers Total Return Realty Fund's distribution composition reflects broader challenges in the REIT sector. The high proportion of return of capital in distributions (
In December 2011, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares.
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. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. In addition, distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year-end by REITs held by the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.
At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.
The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.
DISTRIBUTION ESTIMATES | August 2024 | YEAR-TO-DATE (YTD) August 30, 2024* | ||
Source | Per Share | % of Current | Per Share | % of 2024 |
Net Investment Income | 14.38 % | 27.00 % | ||
Net Realized Short-Term Capital Gains | 6.24 % | 0.78 % | ||
Net Realized Long-Term Capital Gains | 38.38 % | 34.06 % | ||
Return of Capital (or other Capital Source) | 41.00 % | 38.16 % | ||
Total Current Distribution | 100.00 % | 100.00 % | ||
You 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 policy. The Fund estimates that it has distributed more than its income and capital gains; 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 amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and 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 amounts and sources of distributions year-to-date may be subject to additional adjustments.
*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.
The Fund's Year-to-date Cumulative Total Return for fiscal year 2024 (January 1, 2024 through July 31, 2024) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2024. In addition, the Fund's Average Annual Total Return for the five-year period ending July 31, 2024 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2024. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual 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.
Fund Performance and Distribution Rate Information:
Year-to-date January 1, 2024 to July 31, 2024 | |
Year-to-date Cumulative Total Return1 | 5.34 % |
Cumulative Distribution Rate2 | 5.33 % |
Five-year period ending July 31, 2024 | |
Average Annual Total Return3 | 5.67 % |
Current Annualized Distribution Rate4 | 8.00 % |
1. | Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions. |
2. | Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2024 through August 30, 2024) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of July 31, 2024. |
3. | Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending July 31, 2024. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions. |
4. | The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of July 31, 2024. |
Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.
Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.
Website: https://www.cohenandsteers.com/
Symbol: (NYSE: CNS)
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in
Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.
Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
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SOURCE Cohen & Steers, Inc.
FAQ
What is the current distribution amount for Cohen & Steers Total Return Realty Fund (RFI)?
What is the Year-to-date Cumulative Total Return for RFI as of July 31, 2024?
What percentage of RFI's August 2024 distribution is classified as Return of Capital?
What is the Current Annualized Distribution Rate for RFI as of July 31, 2024?
