Cohen & Steers Dividend Majors Fund, Inc. Declares 33.3% Increase in Monthly Distributions and Announces Authorization for Share
June 12 2008 - 5:45PM
PR Newswire (US)
NEW YORK, June 12 /PRNewswire-FirstCall/ -- The board of directors
of Cohen & Steers Dividend Majors Fund, Inc. (NYSE:DVM)
declared a 33.3% increase in the fund's regular monthly
distribution, to $0.14 per common share. The board also authorized
the repurchase of up to 10% of the fund's outstanding common shares
in the open market through the current fiscal year ending December
31, 2008. The amount and timing of the repurchases will be at the
discretion of management and subject to market conditions and
investment considerations. No assurance can be made that management
will repurchase shares. The details for the three monthly
distributions of $0.14 per share for July, August and September
2008* are as follows: The July 2008 distribution is payable on July
31, 2008 to shareholders of record on July 15, 2008. The
ex-dividend date is July 11, 2008. The August 2008 distribution is
payable on August 29, 2008 to shareholders of record on August 15,
2008. The ex-dividend date is August 13, 2008. The September 2008
distribution is payable on September 30, 2008 to shareholders of
record on September 15, 2008. The ex-dividend date is September 11,
2008. * 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 Dividend Majors 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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