NEW YORK, June 14 /PRNewswire-FirstCall/ -- The board of directors of each of the following Cohen & Steers closed-end funds has declared a quarterly distribution payable on June 30, 2010 to shareholders of record as of June 23, 2010. The ex-dividend date is June 21, 2010. Details for each fund's distribution follow.
June 2010 --------- Quarterly --------- Distribution Fund NYSE Per ---- ---- ------------- Symbol Common Share ------ ------------ Cohen & Steers Closed-End Opportunity Fund, Inc. FOF $0.2300 ------------------------------------------- --- ------- Cohen & Steers Dividend Majors Fund, Inc. DVM $0.1250 ----------------------------------------- --- ------- Cohen & Steers Global Income Builder, Inc. INB $0.2800 ------------------------------------------ --- ------- Cohen & Steers Infrastructure Fund, Inc. UTF $0.2400 Cohen & Steers Quality Income Realty Fund, Inc. RQI $0.0925 ------------------------------------------ --- ------- Cohen & Steers REIT and Preferred Income Fund, Inc. RNP $0.2000 ---------------------------------------- --- ------- Cohen & Steers Total Return Realty Fund, Inc. RFI $0.1250
Each fund intends to pay quarterly distributions based on both its past and projected net investment income. The amount of quarterly distributions may vary depending on a number of factors, including changes in portfolio and market conditions. A fund may pay distributions in excess of its net investment income.
The funds may employ a covered call options strategy to enhance income potential. The portion of a fund's distribution generated by the covered call strategy, for tax purposes, may be re-characterized as long-term and short-term capital gains, and/or a return of capital. Under certain conditions, federal tax regulations may also cause some or all of the return of capital to be taxed as ordinary income. The tax treatment and characterization of these funds' distributions may vary significantly from time to time depending on the net investment income of the funds and whether these funds have realized gains or losses from their covered call strategy.
In addition, distributions for funds investing 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 each fund after year-end by REITs held by a fund.
The amount and composition of each fund's distribution is disclosed quarterly at cohenandsteers.com; however, please note that the estimated net investment income component of a distribution will not reflect amounts generated from a covered call strategy. The final tax characteristics of all fund distributions cannot be determined with certainty until after the end of the calendar year, and will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.
More information is available at cohenandsteers.com. About Cohen & Steers
Cohen & Steers is a manager of income-oriented equity portfolios specializing in U.S. and international real estate securities, large cap value stocks, listed infrastructure and utilities, and preferred securities. The company also manages alternative investment strategies such as hedged real estate securities portfolios and private real estate multi-manager strategies for qualified investors. Headquartered in New York City, with offices in London, Brussels, Hong Kong and Seattle, Cohen & Steers serves individual and institutional investors through a broad range of investment vehicles.
Cohen & Steers
CONTACT: Francis C. Poli, Executive Vice President, General Counsel,
Cohen & Steers, Inc., +1-212-446-9112
Web Site: http://cohenandsteers.com/
