Principal Real Estate Income Fund Announces Notification of Sources of Distribution
October 26 2017 - 4:30PM
Business Wire
The Principal Real Estate Income Fund (NYSE:PGZ) announces the
sources of a distribution paid on October 26, 2017 of $0.11 per
share to shareholders of record at the close of business on October
13, 2017, pursuant to the Fund's managed distribution plan. This
press release is issued as required by an exemptive order granted
to the Fund by the U.S. Securities and Exchange Commission and
includes the notice below sent to shareholders regarding the source
of the distribution.
Statement Pursuant to Section 19(a) of the
Investment Company Act of 1940
The following table sets forth the estimated amount of the
sources of distribution for purposes of Section 19 of the
Investment Company Act of 1940, as amended, and the related rules
adopted thereunder. In accordance with generally accepted
accounting principles (“GAAP”), the Fund estimates the following
percentages, of the total distribution amount per share,
attributable to (i) current and prior fiscal year net investment
income, (ii) net realized short-term capital gain, (iii) net
realized long-term capital gain and (iv) return of capital or other
capital source as a percentage of the total distribution amount.
These percentages are disclosed for the current distribution as
well as the fiscal year-to-date cumulative distribution amount per
share for the Fund.
Current Distribution from: Per
Share ($) % Net Investment Income 0.00000 0.00%
Net Realized Short-Term Capital Gain 0.05440 49.45% Net Realized
Long-Term Capital Gain 0.05560 50.55% Return of Capital or other
Capital Source
0.00000 0.00% Total (per
common share) 0.11000 100.00%
Fiscal Year-to-Date
Cumulative Distributions from: Per Share
($) % Net Investment Income 1.08860 63.86% Net
Realized Short-Term Capital Gain 0.12250 7.18% Net Realized
Long-Term Capital Gain 0.14340 8.41% Return of Capital or other
Capital Source
0.35050 20.56% Total (per
common share) 1.70500 100.00%
The Fund estimates that it has distributed more than its 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'.
The timing and character of distributions for federal income tax
purposes are determined in accordance with income tax regulations
which may differ from GAAP. As such, all or a portion of this
distribution may be reportable as taxable income on your 2017
federal income tax return. The final tax character of any
distribution declared in 2017 will be determined in January 2018
and reported to you on IRS Form 1099-DIV.
The amounts and sources of distributions reported in this
19(a) Notice are only estimates and not for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon the Fund’s investment experience during
the remainder of its fiscal year and may be subject to changes
based on tax regulations. The Fund will send you a Form 1099-DIV
for the calendar year that will tell you how to report these
distributions for federal income tax purposes.
Presented below are return figures, based on the change in the
Fund’s Net Asset Value per share (“NAV”), compared to the
annualized distribution rate for this current distribution as a
percentage of the NAV on the last day of the month prior to
distribution record date.
Fund Performance & Distribution Information
Fiscal Year to Date (11/01/2016 through 9/30/2017)
Annualized Distribution Rate as a Percentage of NAV^ 6.74 %
Cumulative Distribution Rate on NAV^ 8.70 % Cumulative Total
Return on NAV* 12.84 % Since Inception
Average Annual Total Return on NAV for the Period Ended 9/30/2017**
10.40 %
^ Based on the Fund’s NAV as of September 30, 2017.
* Cumulative fiscal year-to-date return is based on the change
in NAV including distributions paid and assuming reinvestment of
these distributions for the period November 1, 2016 through
September 30, 2017.
** Since inception average annual total return is based on
change in NAV including distributions paid and assuming
reinvestment of these distributions and is through the last
business day of the month prior to the month of the current
distribution record date.
While the NAV performance may be indicative of the Fund’s
investment performance, it does not measure the value of a
shareholder’s investment in the Fund. The value of a shareholder’s
investment in the Fund is determined by the Fund’s market price,
which is based on the supply and demand for the Fund’s shares in
the open market. Past performance does not guarantee future
results. 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 Plan.
Furthermore, the Board of Trustees reviews the amount of any
potential distribution and the income, capital gain or capital
available. The Board of Trustees will continue to monitor the
Fund’s distribution level, taking into consideration the Fund’s net
asset value and the financial market environment. The Fund’s
distribution policy is subject to modification by the Board of
Trustees at any time. The distribution rate should not be
considered the dividend yield or total return on an investment in
the Fund.
Please retain this document for your records.
ALPS Advisors, Inc. is the investment adviser to the Fund.
Principal Real Estate Investors LLC is the investment
sub-adviser to the Fund. Principal Real Estate Investors LLC is not
affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA
Member.
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Principal Real Estate Income FundLaura M. Parsons, +1
816-843-9087DST Global Public
Relationsmediarelations@dstsystems.com
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