The Board of Trustees of the CBRE Clarion Global Real Estate
Income Fund (NYSE: IGR) (the “Fund”) has declared a monthly
distribution of $0.05 per share for the month of September 2018.
The following dates apply:
Declaration Date Ex-Dividend Date
Record Date Payable Date September 2018 09-04-2018
09-19-2018 09-20-2018 09-28-2018
IGR’s current annualized distribution rate is 7.9% based on the
closing market price of $7.57 on September 5, 2018, and 7.1% based
on a closing NAV of $8.49 as of the same date.
Future earnings of the Fund cannot be guaranteed, and the Fund’s
distribution policy is subject to change. For more information on
the Fund, please visit www.cbreclarion.com.
The Fund’s monthly distribution is set by its Board of Trustees.
The Board reviews the Fund’s distribution on a quarterly basis in
view of its net investment income, realized and unrealized gains,
and other net unrealized appreciation or income expected during the
remainder of the year. The Fund strives to establish a level
monthly distribution that, over the course of the year, will serve
to distribute an amount closely approximating the Fund’s net
investment income and net realized capital gains during the
year.
CBRE Clarion Global Real Estate Income Fund is a closed-end
fund, which is traded on the New York Stock Exchange and
invests primarily in real estate securities. Holdings are subject
to change. Past performance is no guarantee of future results.
For the current fiscal year (January 1, 2018 to September 30,
2018), the Fund has made or declared nine (9) regular monthly
distributions totaling $0.45 per share. The source of the
distributions declared for the current month and fiscal year to
date is estimated as follows:
Estimated Source of Distributions: Estimated
Allocations Net Investment Net Realized Short-
Net Realized Long-
Return of
Distribution Income Term Capital Gains Term Capital Gains
Capital
Current $0.05 $0.015 (30%) -- (0%) -- (0%) $0.035 (70%) YTD
$0.45 $0.133 (30%) -- (0%) -- (0%)
$0.317 (70%)
The allocations reported in this notice are only estimates
and are not provided for tax reporting purposes. The actual
allocations will depend on the Fund’s investment experience during
the remainder of its fiscal year and will not be finalized until
after year-end. In addition, the allocations reported to
shareholders for tax reporting purposes will also reflect
adjustments required under applicable tax regulations. Some of
these tax adjustments are significant, and amounts reported to you
for tax reporting may be substantially different than those
presented in this notice. SHAREHOLDERS WILL BE SENT A FORM 1099-DIV
FOR THE CALENDAR YEAR INDICATING HOW TO REPORT FUND DISTRIBUTIONS
FOR FEDERAL INCOME TAX PURPOSES.
The estimated allocations presented above are based on the
Fund’s monthly calculation of its year-to-date net investment
income, capital gains and returns of capital. The Fund’s investment
income is mainly comprised of distributions received from the real
estate investment trusts (REITs) and other companies in which it
invests. “Net investment income” refers to the Fund’s investment
income offset by its expenditures, which include the fees paid to
the investment adviser and other service providers. “Net realized
capital gains” represents the aggregation of the capital gains and
losses realized by the Fund from its purchase and sale of
investment securities during the year-to-date period. Short-term
capital gains are those arising from the sale of securities held by
the Fund for less than one year. Long-term capital gains are those
arising from the sale of securities held by the Fund for a year or
more. The amount of net realized capital gains is also offset by
capital losses realized in prior years. Adjustments to net
investment income are made based on the character of distributions
received by the Fund. A portion of the distributions the Fund
receives from REITs will be characterized by the REITs as capital
gains or returns of capital. Because REITs often reclassify the
distributions they make, the Fund does not know the ultimate
character of these distributions at the time they are received, so
the Fund estimates the character based on historical information.
The Fund’s net investment income is reduced by the amounts
characterized by the REITs as capital gains and returns of capital.
Amounts characterized by the REITs as capital gains are added to
the Fund’s net realized capital gains. Amounts characterized by the
REITs as return of capital are classified as such by the Fund.
The Fund estimates that it has distributed more than its net
investment income and net realized capital gains; therefore, a
portion of your distribution may be a return of capital. A return
of capital may occur, for example, when some or all of the money
that you invested in the Fund is paid back to you. A return of
capital distribution does not necessarily reflect the Fund’s
investment performance and should not be confused with “yield” or
“income”.
Shareholders should not draw any conclusions about the Fund’s
investment performance from the amount of this distribution or from
the terms of the Fund’s managed distribution policy. The
performance and distribution rate information disclosed in the
table below is based on the Fund’s net asset value (“NAV”). The
Fund’s NAV is calculated as the total market value of all the
securities and other assets held by the Fund minus the total value
of its liabilities. Performance figures are not meant to represent
individual shareholder performance. The value of a shareholder’s
investment in the Fund is determined by the market price of the
Fund’s shares.
The Fund’s Cumulative Total Return for fiscal year to date 2018
(January 1, 2018 through August 31, 2018) is set forth
below. Shareholders should take note of the relationship between
the Cumulative Total Return and the Fund’s Cumulative Distribution
Rate for 2018, as well as its Current Annualized Distribution Rate.
Moreover, the Fund’s Average Annual Total Return for the preceding
five-year period (September 1, 2013 through August 31, 2018) is set
forth below. Shareholders should take note of the relationship
between the Fund’s Average Annual Total Return and its Average
Annual Distribution Rate for the preceding five-year period.
Fund Performance and Distribution Rate
Information:
Year-to-date 01/01/2018 to 08/31/2018
Cumulative Total Return1 -0.10% Cumulative Distribution Rate2 4.67%
Preceding Five-Year Period 09/01/2013 to 08/31/2018 Average
Annual Total Return3 6.62% Average Annual Distribution Rate4 6.30%
Current Annualized Distribution Rate5 7.00% 1
Cumulative Total Return is the percentage change in
the Fund’s NAV over the year-to-date time period including
distributions paid and assuming reinvestment of those
distributions. 2 Cumulative Distribution Rate for the
year-to-date period (January 1, 2018 through August 31, 2018) is
determined by dividing the dollar value of distributions in the
period by the Fund’s NAV as of August 31, 2018. 3 Average
Annual Total Return represents the simple arithmetic average of the
Annual Total Returns of the Fund for the preceding five-year
period. Annual Total Return is the percentage change in the Fund’s
NAV over a year including distributions paid and assuming
reinvestment of those distributions. 4 Average Annual
Distribution Rate is the simple arithmetic average of the Annual
Distribution Rates for the preceding five-year period. The Annual
Distribution Rates are calculated by taking the total distributions
paid during the period divided by average daily NAV for the period.
5 The Current Annualized Distribution Rate is the current
monthly distribution rate annualized as a percentage of the Fund’s
NAV as of August 31, 2018.
Please refer to the chart below for information about the Fund’s
historical NAVs, change in NAVs, total returns, and distributions
paid.
Average End of
Daily Period Annualized Level Special Total NAV for NAV Per
Change in Total Distribution Distributions Distributions
Distributions Period Share NAV Returns
Rate4
Paid Paid Paid IPO $ 15.00
20041
$ 14.39 $ 17.46 16.40 % 28.20 % 5.77 % $ 0.75 $ 0.08 $ 0.83 2005 $
16.81 $ 17.23 -1.32 % 8.13 % 8.75 % $ 1.29 $ 0.18 $ 1.47 2006 $
20.27 $ 22.78 32.21 % 53.42 % 16.13 % $ 1.38 $ 1.89 $ 3.27 2007 $
21.67 $ 16.16 -29.06 % -15.82 % 14.86 % $ 1.38 $ 1.84 $ 3.22 2008 $
11.97 $ 5.63 -65.16 % -61.14 % 10.36 % $ 1.24 $ - $ 1.24 2009 $
5.82 $ 7.51 33.39 % 46.79 % 9.28 % $ 0.54 $ - $ 0.54 2010 $ 7.82 $
8.58 14.25 % 22.41 % 6.91 % $ 0.54 $ - $ 0.54 2011 $ 8.60 $ 8.14
-5.13 % 0.94 % 6.28 % $ 0.54 $ - $ 0.54 2012 $ 8.99 $ 9.48 16.46 %
24.15 % 6.47 % $ 0.54 $ 0.042 $ 0.582 2013 $ 9.57 $ 9.04 -4.64 %
0.91 % 5.64 % $ 0.54 $ - $ 0.54 2014 $ 9.77 $ 10.16 12.39 % 18.73 %
5.52 % $ 0.54 $ - $ 0.54 2015 $ 9.67 $ 9.04 -11.02 % -5.57 % 5.89 %
$ 0.57 $ - $ 0.57 2016 $ 9.11 $ 8.65 -4.31 % 2.17 % 6.58 % $ 0.60 $
- $ 0.60 2017 $ 8.75 $ 8.99 3.93 % 11.29 % 6.85 % $ 0.60 $ - $ 0.60
20182
$ 8.52 $ 8.57 -4.67 % -0.10 % 4.70 % $ 0.40 $ - $ 0.40
Average3 9.27 %
8.27 %
Since Inception Annualized Total
Return 4.95%
1 Figures for 2004 are from February
24, 2004, the Fund’s inception date. 2 2018 figures are
year-to-date through August 31, 2018. 3 Average calculated on
number of months and years since inception. The Fund’s inception
date was February 24, 2004. 4
Distribution rate calculated by taking the
total distributions paid within the period divided by average daily
NAV for the period.
Sources: NAV per share amounts and annualized total returns are
published in the Fund’s audited annual reports for the respective
year.
About CBRE Clarion Securities:
CBRE Clarion Securities is a registered investment advisory firm
specializing in the management of global real asset securities for
institutional investors. Headquartered near Philadelphia, the firm
has over 90 employees located in offices in the United States,
United Kingdom, Hong Kong, Japan, and Australia. For more
information about CBRE Clarion Securities, please visit
www.cbreclarion.com.
CBRE Clarion Securities is the listed equity management arm of
CBRE Global Investors. CBRE Global Investors is a global real asset
investment management firm with $101.7 billion in assets under
management* as of June 30, 2018. The firm sponsors investment
programs across the risk/return spectrum for investors
worldwide.
CBRE Global Investors is an independently operated affiliate of
CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment
sourcing and other resources of the world’s largest commercial real
estate services and investment firm (based on 2017 revenue) for the
benefit of its investors. CBRE Group, Inc. has more than 80,000
employees (excluding affiliates) and serves real estate investors
and occupiers through approximately 450 offices (excluding
affiliates) worldwide. For more information about CBRE Global
Investors, please visit www.cbreglobalinvestors.com.
* Assets under management (AUM) refers to the fair market value
of real asset-related investments with respect to which CBRE Global
Investors provides, on a global basis, oversight, investment
management services and other advice and which generally consist of
investments in real assets; equity in funds and joint ventures;
securities portfolios; operating companies and real asset-related
loans. This AUM is intended principally to reflect the extent of
CBRE Global Investors' presence in the global real asset market,
and its calculation of AUM may differ from the calculations of
other asset managers.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180910005730/en/
CBRE Clarion Global Real Estate Income FundAnalyst and Press
Inquiries:David Leggette, Principal610-995-2500orInvestor
Relations:888-711-4272www.cbreclarion.com
CBRE Global Real Estate ... (NYSE:IGR)
Historical Stock Chart
From Jun 2024 to Jul 2024
CBRE Global Real Estate ... (NYSE:IGR)
Historical Stock Chart
From Jul 2023 to Jul 2024