Cohen & Steers REIT and Preferred Income Fund, Inc. Declares Capital Gain Distribution
December 19 2007 - 8:31PM
PR Newswire (US)
NEW YORK, Dec. 19 /PRNewswire-FirstCall/ -- The board of directors
of Cohen & Steers REIT and Preferred Income Fund, Inc.
(NYSE:RNP) has declared a long-term capital gain distribution of
$1.40 per common share. The distribution is payable on December 31,
2007 to common shareholders of record on December 26, 2007, with an
ex-dividend date of December 21, 2007.* *Shareholders should keep
in mind that certain broker-dealers may distribute information on
fund capital gain distributions based on preliminary data and
subsequently distribute revised reports after the fund calculates
final distribution amounts for the 2007 taxable year. You should
also remember that the net asset value of a fund with a capital
gain distribution will decline on the "ex-dividend" date to reflect
the adjusted net asset value of the portfolio after the
distribution, in addition to any effect the market's performance
had on the securities within the fund's portfolio on that day.
Capital gain distributions do not affect the overall performance of
an investment in a fund. If you own funds in a retirement plan or
any type of IRA, you will not owe any current taxes on those
distributions. Income may be subject to state and local taxes as
well as the alternative minimum tax. Please note that the
distributions paid by the fund to shareholders are subject to
recharacterization for tax purposes. The final tax treatment of
these distributions is reported to shareholders on their 1099-DIV
forms, which are mailed to shareholders after the close of each
fiscal year. In addition, the fund pays distributions pursuant to a
level rate distribution policy. Under this policy, the fund may pay
distributions in excess of the fund's net investment income, and
this excess will be a tax-free return of capital distributed from
the fund's assets. Distributions of capital decrease the fund's
total assets and, therefore, could have the effect of increasing
the fund's expense ratio. In addition, in order to make these
distributions, the fund may have to sell portfolio securities
during unfavorable market conditions. Information concerning the
estimated composition of each fund distribution is available at
cohenandsteers.com. DATASOURCE: Cohen & Steers REIT and
Preferred Income Fund, Inc. CONTACT: Francis C. Poli, executive
vice president and general counsel, Cohen & Steers Capital
Management, Inc., +1-212-446-9112 Web site:
http://www.cohenandsteers.com/
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