Cohen & Steers Total Return Realty Fund, Inc. (RFI) Notification of Distribution Sources under Section 19 (a)

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NEW YORK, October 27, 2021 / PRNewswire / – This press release provides shareholders of Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”) with information regarding the sources of the distribution payable on October 29, 2021 and the cumulative distributions paid since the beginning of the financial year.

In december 2011, the Fund has implemented a managed distribution policy in accordance with the exemption issued by the Securities and Exchange Commission. The Managed Distribution Policy aims to provide the long-term total return potential of the Fund through regular monthly distributions declared at a fixed rate per Common Share. The policy gives the Fund greater flexibility to achieve 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 modify, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the shares of the Fund.

Monthly distributions from the Fund may consist of 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 made by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed out of the assets of the Fund. A return of capital is not taxable; rather, it reduces a shareholder’s tax base for their shares in the Fund. In addition, distributions from the Fund’s investments in real estate investment trusts (REITs) may subsequently qualify as capital gains and / or return of capital, depending on the nature of the dividends declared 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 the portfolio and market conditions.

At the time of each monthly distribution, the information will be published on cohenandsteers.com and mailed to shareholders in a simultaneous notice. However, this information may change at year end because the final tax characteristics of Fund distributions cannot be determined with certainty until after the end of the calendar year. The final tax characteristics of all distributions from the Fund will be provided on Form 1099-DIV, which is mailed after the end of the calendar year.

The following table shows the estimated amounts of the current distribution and the cumulative distributions paid since the beginning of the year from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES

October 2021

CURRENT YEAR (year-to-date)

October 31, 2021*

Source

Amount per share

% of current distribution

Amount per share

% of 2021 distributions

Net investment income

$ 0.0001

0.12%

$ 0.1580

19.75%

Short-term net realized capital gains

$ 0.0255

31.88%

$ 0.0542

6.78%

Long-term net realized capital gains

$ 0.0544

68.00%

$ 0.5878

73.47%

Repayment of capital (or other source of capital)

$ 0.0000

0.00%

$ 0.0000

0.00%

Total current distribution

$ 0.0800

100.00%

$ 0.8000

100.00%

You should not draw any conclusions about the performance of the Fund’s investments from the amount of this distribution or the terms of the Fund’s managed distribution policy. The amounts and sources of distribution shown in this notice are estimates only, are subject to change over time, and are not provided for tax reporting purposes. The actual amounts and the sources of the amounts for accounting and tax reporting purposes will depend on the Fund’s investment experience during the remainder of its financial year and may be subject to change depending on tax regulations. The amounts and sources of distributions since the beginning of the year may be subject to further adjustments.

* THE FUND WILL SEND YOU A CALENDAR 1099-DIV FORM THAT DIRECTS YOU HOW TO DECLARE THESE DISTRIBUTIONS FOR FEDERAL TAX PURPOSES.

The cumulative total return of the Fund since the beginning of fiscal 2021 (January 1, 2021 through September 30, 2021) is shown below. Shareholders should take note of the relationship between the cumulative total return since the beginning of the year and the cumulative distribution rate of the Fund for 2021. In addition, the average annual total return of the Fund for the five-year period ending September 30, 2021 is shown below. Shareholders should note the relationship between the average annual total return and the current annualized distribution rate of the Fund for 2021. The return and distribution rate information presented in the table is based on the net asset value per share (NAV) of the Fund. Funds. The net asset value of the Fund is the total market value of all securities and other assets held by the Fund less total liabilities, divided by the total number of shares outstanding. Although the performance of the net asset value may be indicative of the investment performance of the Fund, 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 market price of the Fund, which is based on the supply of and demand for shares of the Fund in the open market.

Fund Performance and Distribution Rate Information:

Year-to-date from January 1, 2021 to September 30, 2021

Total cumulative return since the beginning of the year1

18.98%

Cumulative payout rate2

5.39%


Five-year period ending September 30, 2021

Average annual total return3

8.89%

Current annualized payout rate4

6.47%

1.

The cumulative total return since the beginning of the year is the percentage change in the net asset value of the Fund during the cumulative period of the year, including distributions paid and assuming reinvestment of such distributions.

2.

Cumulative distribution rate for the current year of the Fund (January 1, 2021 to October 31, 2021) measured by the dollar value of distributions during the cumulative period as a percentage of the net asset value of the Fund as at September 30, 2021.

3.

The average annual total return is the compound average of the total annual net asset value returns of the Fund for the five-year period ending September 30, 2021. The annual total net asset value return is the percentage change in the net asset value of the Fund. Fund over a year, including distributions paid and assuming reinvestment of these allocations.

4.

The current annualized payout rate is the annualized payout rate for the current year as a percentage of the net asset value of the Fund as of September 30, 2021.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. You can obtain the most recent periodic reports of the Fund, when available, and other regulatory documents by contacting your financial advisor or by visiting cohenandsteers.com. These reports and other documents can be viewed in the Securities and Exchange Commission’s EDGAR database. You should read these reports and other documents carefully before investing.

Shareholders should not use the information provided here to prepare their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report distributions from the Fund 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 real estate, preferred securities, infrastructure, resource stocks, commodities, as well as multi solutions. -strategies. Founded in 1986, the company is based in New York City, with offices in London, Dublin, Hong Kong, and Tokyo.

Forward-looking statements

This press release and other statements 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 current views. of the company regarding, among other things, its operations and financial performance. You can identify these forward-looking statements by using words such as “prospect”, “estimates”, “expects”, “,” “” approximately “,” predicts “,” intends to “,” plans “,” estimates “,” plans “, or negative versions of these or other comparable words. These forward-looking statements are subject to various risks and uncertainties.

Therefore, there are or will be significant factors that could cause actual results to differ materially from those shown in such statements. The company makes no commitment to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE Cohen & Steers, Inc.

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