NEW YORK, Sept. 30, 2016 /PRNewswire/ -- Neuberger
Berman MLP Income Fund Inc. (NYSE MKT: NML) (the "Fund") announced
today the declaration of three monthly distributions of
$0.055 per share of common
stock. The record, ex-date and payment dates for each
distribution are below:
|
Month
|
Ex-
Date
|
Record
Date
|
Payable
Date
|
Amount per
Share
|
|
October
|
October 13,
2016
|
October 17,
2016
|
October 31,
2016
|
$0.055
|
|
November
|
November 10,
2016
|
November 15,
2016
|
November 30,
2016
|
$0.055
|
|
December
|
December 13,
2016
|
December 15,
2016
|
December 30,
2016
|
$0.055
|
The Fund currently intends to make regular monthly cash
distributions to holders of its common stock at a fixed rate per
share, to be determined based on the projected net rate of return
of the Fund's investments, subject to adjustment from time to
time. The Fund currently intends to pay its regular monthly
distributions out of its distributable cash flow, which generally
consists of (1) cash and paid-in-kind distributions from MLPs or
their affiliates, dividends from common stocks, interest from debt
instruments and income from other investments held by NML less (2)
current or accrued operating expenses, including leverage costs, if
any, and taxes on its taxable income.
The Fund expects that a portion of its distributions to
stockholders will constitute a non-taxable return of capital. A
"return of capital" is a distribution by the Fund that exceeds the
Fund's current and accumulated earnings and profits and which
represents a return of a common stockholder's original investment,
and should not be confused with a dividend. To the extent the
Fund pays a return of capital, a common stockholder's
basis in Fund shares will be reduced, which will increase
a capital gain or reduce a capital loss upon sale of those
shares. There is no assurance that the Fund will always
be able to pay distributions of a particular size, or that a
distribution will consist solely of the Fund's current and
accumulated earnings and profits.
In compliance with Section 19 of the Investment Company Act of
1940, as amended, a notice would be provided for any distribution
that does not consist solely of income. The notice would be for
informational purposes, and would disclose, among other things,
estimated portions of the distribution, if any, consisting of
return of capital.
The Fund is subject to federal income tax on its taxable income,
unlike most investment companies. Any taxes paid by the Fund will
reduce the amount available to pay distributions to stockholders,
and therefore investors in the Fund will likely receive lower
distributions than if they invested directly in MLPs.
About Neuberger Berman
Neuberger Berman, founded in
1939, is a private, independent, employee-owned investment manager.
The firm manages equities, fixed income, private equity and hedge
fund portfolios for institutions and advisors worldwide. With
offices in 19 countries, Neuberger Berman's team is approximately
2,000 professionals and the company was named by Pensions &
Investments as a Best Place to Work in Money Management
for three consecutive years. Tenured, stable and long-term in
focus, the firm fosters an investment culture of fundamental
research and independent thinking. It manages $246 billion in client assets as of June 30, 2016. For more information, please visit
our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in the Fund's performance, the cost and effect of the
Fund's use of leverage, a general downturn in the economy,
competition from other closed-end investment companies, changes in
government policy or regulation, inability of the Fund's investment
adviser to attract or retain key employees, inability of the Fund
to implement its investment strategy, inability of the Fund to
manage rapid expansion and unforeseen costs and other effects
related to legal proceedings or investigations of governmental and
self-regulatory organizations. These risks and uncertainties
may cause the actual results, performance or achievements of the
Fund, or industry results, to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. As a result, no assurance
can be given as to future results, performance or achievements, and
neither the Fund nor any other person assumes responsibility for
the accuracy and completeness of such statements in the future.
Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
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SOURCE Neuberger Berman