Cohen & Steers Infrastructure Fund, Inc. (UTF) Notification of Sources of Distribution Under Section 19(a)

Rhea-AI Summary

Cohen & Steers Infrastructure Fund (NYSE: CNS) announced the sources for its monthly distribution to be paid on February 27, 2026 and cumulative distributions YTD. Current distribution is $0.1550 per share; YTD distributions total $0.3100 per share. The company estimates current breakdown: net investment income 57.8%, short-term gains 24.39%, long-term gains 17.81%, and YTD return of capital 28.43%. Performance metrics: YTD cumulative total return 6.14%, five-year average annual return 10.26%, current annualized distribution rate 6.89%.

Positive

• Current monthly distribution of $0.1550 per share
• Year-to-date distributions total $0.3100 per share
• Net investment income comprises 57.8% of the current distribution
• Five-year average annual NAV total return of 10.26%

Negative

• Year-to-date 28.43% of distributions attributed to return of capital
• Fund estimates it has distributed more than its income and gains

Key Figures

Feb 2026 distribution: $0.1550 per share Net investment income portion: $0.0896 (57.80%) Short-term gains portion: $0.0378 (24.39%) +5 more

8 metrics

Feb 2026 distribution $0.1550 per share Total current UTF distribution for February 2026

Net investment income portion $0.0896 (57.80%) Portion of Feb 2026 distribution from net investment income

Short-term gains portion $0.0378 (24.39%) Portion of Feb 2026 distribution from net realized short-term gains

Long-term gains portion $0.0276 (17.81%) Portion of Feb 2026 distribution from net realized long-term gains

YTD distributions $0.3100 per share UTF cumulative distributions fiscal 2026 through Feb 28, 2026

YTD total return 6.14% Year-to-date cumulative total return Jan 1–31, 2026 (NAV-based)

Cumulative distribution rate 1.15% Cumulative distribution rate for fiscal period to Feb 28, 2026 (NAV-based)

5-year avg total return 10.26% Average Annual Total Return over five years ending Jan 31, 2026 (NAV-based)

Market Reality Check

Price: $67.61 Vol: Volume 270,695 is slightl...

normal vol

$67.61 Last Close

Volume Volume 270,695 is slightly below the 20-day average of 291,535, suggesting typical pre-news trading interest. normal

Technical Shares at $67.14 are trading below the 200-day MA of $70, and about 24.13% under the 52-week high.

Peers on Argus

CNS slipped 0.7% while peers were mixed: AB, APAM, FHI, and HTGC showed modest g...

CNS slipped 0.7% while peers were mixed: AB, APAM, FHI, and HTGC showed modest gains, DNP declined 0.56%. Moves do not indicate a broad, synchronized sector shift.

Historical Context

5 past events · Latest: Feb 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 09	AUM update	Positive	+2.5%	Reported AUM rose to $93.1B driven by market appreciation and net inflows.
Jan 27	FOF distribution notice	Neutral	-1.8%	Disclosed FOF January distribution fully from net realized long-term capital gains.
Jan 27	UTF distribution notice	Neutral	-1.8%	Outlined UTF January payout mix of net investment income and return of capital.
Jan 27	RNP distribution notice	Neutral	-1.8%	Detailed RNP January distribution split between net investment income and return of capital.
Jan 27	RQI distribution notice	Neutral	-1.8%	Announced RQI January payout funded entirely by net realized long-term capital gains.

Pattern Detected

Recent CNS news has been dominated by fund distribution and performance notices, with generally modest price reactions and no clear pattern of sharp divergence.

Recent Company History

Over the last few months, CNS news has focused on fund metrics and asset levels. On Feb 9, 2026, assets under management rose to $93.1 billion with a positive 2.54% price reaction. Multiple January Section 19(a) distribution notices for FOF, UTF, RNP, and RQI detailed per‑share payouts, capital gains mix, and NAV-based returns, each coinciding with roughly -1.75% moves. Today’s UTF distribution breakdown continues this pattern of informational fund updates tied to payout composition and NAV performance.

Market Pulse Summary

This announcement details UTF’s February distribution of $0.1550 per share, primarily sourced from n...

Analysis

This announcement details UTF’s February distribution of $0.1550 per share, primarily sourced from net investment income and realized capital gains, and cumulative fiscal 2026 payouts of $0.3100 per share. It also highlights a NAV-based year-to-date total return of 6.14% and a five-year average annual total return of 10.26%. Investors may focus on the ongoing balance between income, capital gains, and return of capital, and how the current annualized distribution rate of 6.89% relates to long-term NAV performance.

Key Terms

managed distribution policy, exemptive relief, return of capital, net investment income, +4 more

8 terms

managed distribution policy financial

"In March 2015, the Fund implemented a managed distribution policy in accordance..."

A managed distribution policy is a company’s plan to pay regular cash to shareholders at a set rate by combining income, dividends and occasional return of capital. Think of it as a scheduled withdrawal from a household account: it can provide steady income for investors, but part of the payment may come from savings rather than ongoing earnings, so investors should watch how those payments are funded and whether they are sustainable over time.

exemptive relief regulatory

"managed distribution policy in accordance with exemptive relief issued by the Securities..."

Exemptive relief is a formal permission from a financial regulator that allows a company or fund to be temporarily or permanently excused from following a specific rule or requirement. It matters to investors because it can change how a business operates, affect the timing and cost of transactions, and alter regulatory risk—think of it like a temporary permit that lets a shop operate under different rules while still staying legal.

return of capital financial

"The Fund's monthly distributions may include... and/or return of capital for federal..."

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

net investment income financial

"Net Investment Income | $0.0896 | 57.80 % | $0.1565 | 50.48 %"

Net investment income is the money an investor or fund actually keeps from its investments after subtracting the costs of running those investments (like management fees, interest, and losses). Think of it as your paycheck from owning assets: gross returns minus the bills needed to earn them. Investors watch it because it shows how profitable the investment activities are, influences dividend payouts and cash available for growth, and helps compare true performance across funds or companies.

net asset value financial

"The performance and distribution rate information... is based on the Fund's net asset value per share (NAV)."

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

master limited partnerships financial

"distributions from the Fund's investments in MLPs are attributed to various sources..."

Master limited partnerships are businesses that combine the tax advantages of a partnership with shares that trade on public markets, letting everyday investors buy units and collect regular cash distributions. They often operate in industries with steady, fee-like revenue (for example pipelines), so they can act like owning a rental that pays you income; investors care because MLPs are mainly used for predictable cash returns but can be sensitive to commodity prices and interest rates.

Form 1099-DIV regulatory

"Final tax characteristics... will be provided on Form 1099-DIV, which is mailed..."

Form 1099-DIV is a U.S. tax document brokers, mutual funds and other financial institutions send to investors showing dividends and other distributions paid during the year. Investors use it like an annual receipt to report taxable income — including regular dividends, dividends that may qualify for lower tax rates, and capital gains distributions — so it directly affects tax liability and helps reconcile brokerage records with a tax return.

distribution rate financial

"Cumulative Distribution Rate 2 | 1.15 % ... Current Annualized Distribution Rate 4 | 6.89 %"

Distribution rate is the percentage that shows how much income an investment pays out to holders over a year, usually expressed relative to the fund’s share price or net asset value. It tells investors the income they can expect—similar to the interest rate on a savings account—and helps gauge whether a security is delivering steady cash flow or relying on capital to pay distributions, which can signal higher risk.

AI-generated analysis. Not financial advice.

NEW YORK, Feb. 26, 2026 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) (the "Fund") with information regarding the sources of the distribution to be paid on February 27, 2026 and cumulative distributions paid fiscal year-to-date.

In March 2015, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. This policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares.

The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. In addition, distributions from the Fund's investments in MLPs are attributed to various sources, including net investment income and return of capital. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES	February 2026		YEAR-TO-DATE (YTD) February 28, 2026*
Source	Per Share Amount	% of Current Distribution	Per Share Amount	% of 2026 Distributions
Net Investment Income	$0.0896	57.80 %	$0.1565	50.48 %
Net Realized Short-Term Capital Gains	$0.0378	24.39 %	$0.0378	12.19 %
Net Realized Long-Term Capital Gains	$0.0276	17.81 %	$0.0276	8.90 %
Return of Capital (or other Capital Source)	$0.0000	0.00 %	$0.0881	28.43 %
Total Current Distribution	$0.1550	100.00 %	$0.3100	100.00 %

You 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 Fund estimates that it has distributed more than its income and 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 amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and 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 amounts and sources of distributions year-to-date may be subject to additional adjustments.

*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.

The Fund's Year-to-date Cumulative Total Return for fiscal year 2026 (January 1, 2026 through January 31, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2026. In addition, the Fund's Average Annual Total Return for the five-year period ending January 31, 2026 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (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 liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual 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.

Fund Performance and Distribution Rate Information:

Year-to-date January 1, 2026 to January 31, 2026
Year-to-date Cumulative Total Return1	6.14 %
Cumulative Distribution Rate2	1.15 %
Five-year period ending January 31, 2026
Average Annual Total Return3	10.26 %
Current Annualized Distribution Rate4	6.89 %

1. Year-to-date 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 Fund's current fiscal period (January 1, 2026 through February 28, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of January 31, 2026.
3. Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending January 31, 2026. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.
4. The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of January 31, 2026.

Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. 

Website: https://www.cohenandsteers.com
Symbol: (NYSE: CNS)

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SOURCE Cohen & Steers

FAQ

What is Cohen & Steers Infrastructure Fund (CNS) paying on February 27, 2026?

The Fund will pay a $0.1550 per-share distribution on February 27, 2026. According to the company, that payment comprises net investment income, short-term and long-term capital gains in the percentages disclosed.

How much have CNS shareholders received year-to-date in 2026 distributions?

CNS shareholders have received $0.3100 per share year-to-date through February 28, 2026. According to the company, the YTD mix includes net investment income, capital gains, and an estimated return of capital portion.

What portion of the current CNS distribution is return of capital?

The current distribution shows per share attributed to return of capital, but YTD return of capital is significant. According to the company, YTD return of capital equals 28.43% of 2026 distributions.

What are CNS's recent NAV performance and distribution rates for 2026?

The Fund reports a YTD cumulative NAV total return of 6.14% and a current annualized distribution rate of 6.89%. According to the company, five-year average annual NAV total return is 10.26%.

Will CNS provide final tax reporting for 2026 distributions?

Yes. Shareholders will receive a Form 1099-DIV after year-end showing final tax character of distributions. According to the company, these estimates may change and are not for tax filing.

Why might a CNS distribution be labeled a return of capital?

A return of capital reflects distributions exceeding net investment income and realized gains, reducing shareholder tax basis. According to the company, return of capital does not necessarily indicate poor investment performance.