Cohen & Steers Select Pref & Income Stock Price, News & Analysis

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.