Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE:
CEN) (the “Fund”) today announced that its Board of Trustees, based
upon the recommendation of Brookfield Public Securities Group LLC
(“PSG”), the Fund’s adviser, and its portfolio management team,
declared the Fund’s quarterly distribution for September 2020.
|
Record Date |
Ex-Date |
Payable Date |
Amount per Share |
September 2020 |
September 16, 2020 |
September 15, 2020 |
September 24, 2020 |
$0.0225 |
September Quarterly
Distribution
PSG and the Fund’s Board of Trustees believe the
September distribution declaration aligns with its current holdings
and reflects our underlying companies’ evolved focus on prudent
capital allocation. Payment of future distributions is subject to
approval by the Fund’s Board of Trustees, as well as the Fund
meeting the terms and covenants of any senior securities and the
asset coverage requirements of the Investment Company Act of 1940,
as amended.
Based on current estimates, it is anticipated
that a portion of the distributions paid in calendar 2020 will be
treated for U.S. federal income tax purposes as a return of
capital. The final determination of the tax status of those 2020
distributions will be made in early 2021 and provided to
shareholders on Form 1099-DIV.
Please contact your financial advisor with any
questions. Distributions may include net investment income, capital
gains and/or return of capital. Any portion of the Fund’s
distributions that is a return of capital does not necessarily
reflect the Fund’s investment performance and should not be
confused with “yield” or “income.” The tax status of
distributions will be determined at the end of the taxable
year.
Forward-Looking Statements
Certain statements made in this news release that are not
historical facts are referred to as "forward-looking statements"
under the U.S. federal securities laws. Actual future results or
occurrences may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. Generally, the
words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "will" and similar expressions identify forward-looking
statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ from the
historical experience of Brookfield Public Securities Group LLC
(“PSG”) and the Fund managed by PSG and its present expectations or
projections. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. PSG and
the Fund managed by PSG undertake no responsibility to update
publicly or revise any forward-looking statements.
PSG is an SEC-registered investment adviser that
represents the Public Securities platform of Brookfield Asset
Management Inc., providing global listed real assets strategies
including real estate equities, infrastructure equities, energy
infrastructure equities, multi-strategy real asset solutions and
real asset debt. With over $15 billion of assets under management
as of June 30, 2020, PSG manages separate accounts, registered
funds and opportunistic strategies for financial institutions,
public and private pension plans, insurance companies, endowments
and foundations, sovereign wealth funds and individual investors.
PSG is a wholly owned subsidiary of Brookfield Asset Management
Inc., a leading global alternative asset manager with approximately
$550 billion of assets under management as of June 30, 2020. For
more information, go to www.brookfield.com.
Center Coast Brookfield MLP & Energy
Infrastructure Fund is managed by PSG. The Fund uses its website as
a channel of distribution of material information about the Fund.
Financial and other material information regarding the Fund is
routinely posted on and accessible at www.brookfield.com.
COMPANY CONTACTCenter Coast
Brookfield MLP & Energy Infrastructure Fund
Brookfield Place250 Vesey Street, 15th FloorNew
York, NY 10281-1023(855)
777-8001publicsecurities.enquiries@brookfield.com
Investing involves risk; principal loss
is possible. Past performance is not a guarantee of future
results.
RisksAn outbreak of infectious
respiratory illness caused by a novel coronavirus known as
“COVID-19” was first detected in China in December 2019 and has now
been detected globally. COVID-19 and concern about its spread
contributed to severe market volatility. Markets generally and the
energy sector specifically, including master limited partnerships
(“MLPs”) and energy infrastructure companies in which the Fund
invests, have also been adversely impacted by reduced demand for
oil and other energy commodities as a result of the slowdown in
economic activity resulting from the spread of COVID-19 and by
price competition among key oil-producing countries. These
developments have and may continue to adversely impact the Fund’s
net asset value and the market price of the Fund's common
shares.
The Fund’s investments are concentrated in the
energy infrastructure industry with an emphasis on securities
issued by MLPs, which may increase price fluctuation. The value of
commodity-linked investments such as the MLPs and energy
infrastructure companies (including midstream MLPs and energy
infrastructure companies) in which the Fund invests are subject to
risks specific to the industry they serve, such as fluctuations in
commodity prices, reduced volumes of available natural gas or other
energy commodities, slowdowns in new construction and acquisitions,
a sustained reduced demand for crude oil, natural gas and refined
petroleum products, depletion of the natural gas reserves or other
commodities, changes in the macroeconomic or regulatory
environment, environmental hazards, rising interest rates and
threats of attack by terrorists on energy assets, each of which
could affect the Fund’s profitability.
MLPs are subject to significant regulation and
may be adversely affected by changes in the regulatory environment
including the risk that an MLP could lose its tax status as a
partnership. If an MLP was obligated to pay federal income tax on
its income at the corporate tax rate, the amount of cash available
for distribution would be reduced and such distributions received
by the Fund would be taxed under federal income tax laws applicable
to corporate dividends received (as dividend income, return of
capital, or capital gain).
In addition, investing in MLPs involves
additional risks as compared to the risks of investing in common
stock, including risks related to cash flow, dilution and voting
rights. Such companies may trade less frequently than larger
companies due to their smaller capitalizations which may result in
erratic price movement or difficulty in buying or selling.
The Fund is a non-diversified, closed-end
management investment company. As a result, the Fund’s returns may
fluctuate to a greater extent than those of a diversified
investment company. Shares of closed-end management investment
companies, such as the Fund, frequently trade at a discount to
their net asset value, which may increase investors’ risk of loss.
The Fund is not a complete investment program and you may lose
money investing in the Fund.
Because of the Fund’s concentration in MLP
investments, the Fund is not eligible to be treated as a “regulated
investment company” under the Internal Revenue Code of 1986, as
amended. Instead, the Fund will be treated as a regular
corporation, or “C” corporation, for U.S. federal income tax
purposes and, as a result, unlike most investment companies, will
be subject to corporate income tax to the extent the Fund
recognizes taxable income.
An investment in MLP units involves risks that
differ from a similar investment in equity securities, such as
common stock, of a corporation. Holders of MLP units have the
rights typically afforded to limited partners in a limited
partnership. As compared to common shareholders of a corporation,
holders of MLP units have more limited control and limited rights
to vote on matters affecting the partnership. There are certain tax
risks associated with an investment in MLP units. Additionally,
conflicts of interest may exist between common unit holders,
subordinated unit holders and the general partner of an MLP.
The Fund currently seeks to enhance the level of
its current distributions by utilizing financial leverage through
borrowing, including loans from financial institutions, or the
issuance of commercial paper or other forms of debt, through the
issuance of senior securities such as preferred shares, through
reverse repurchase agreements, dollar rolls or similar transactions
or through a combination of the foregoing. Financial leverage is a
speculative technique and investors should note that there are
special risks and costs associated with financial leverage.
Foreside Fund Services, LLC; distributor.
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