Cohen & Steers Closed-End Opportunity Fund, Inc. (FOF) Notification of Sources of Distribution Under Section 19(a)

Rhea-AI Summary

Cohen & Steers Closed-End Opportunity Fund (NYSE:CNS) announced estimated sources for the distribution to be paid on January 30, 2026. The Fund estimates the $0.0870 per share distribution is 100% net realized long-term capital gains with no net investment income or return of capital.

The Fund reported a year-to-date cumulative total return of 19.88%, a cumulative distribution rate of 0.66%, a five-year average annual total return of 9.75%, and a current annualized distribution rate of 7.91%.

Positive

• $0.0870 per share distribution sourced 100% to long-term gains
• Year-to-date cumulative total return 19.88% for 2025
• Five-year average annual total return of 9.75%

Negative

• Net investment income contribution to January 2026 distribution: 0.00%
• Return of capital contribution to January 2026 distribution: 0.00%
• Cumulative distribution rate YTD is low at 0.66% versus annualized rate 7.91%

News Market Reaction

+2.12%

1 alert

+2.12% News Effect

On the day this news was published, FOF gained 2.12%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Current distribution: $0.0870 per share Long‑term gains share: 100.00 % YTD 2026 distribution: $0.0870 per share +5 more

8 metrics

Current distribution $0.0870 per share January 30, 2026 distribution for FOF; all long‑term capital gains

Long‑term gains share 100.00 % Portion of January 2026 FOF distribution from net realized long‑term gains

YTD 2026 distribution $0.0870 per share FOF year‑to‑date distributions through January 31, 2026

2025 YTD total return 19.88 % FOF year‑to‑date cumulative total return Jan 1–Dec 31, 2025 (NAV)

2025 distribution rate 0.66 % FOF cumulative distribution rate for fiscal period to Jan 31, 2026 (NAV basis)

5‑year avg total return 9.75 % FOF average annual total return over five years ending Dec 31, 2025 (NAV)

Current annualized distribution 7.91 % FOF current annualized distribution rate vs NAV as of Dec 31, 2025

Net investment income $0.0000 per share Net investment income component of January 2026 FOF distribution

Market Reality Check

Price: $14.37 Vol: Volume 501,984 is 1.44x t...

normal vol

$14.37 Last Close

Volume Volume 501,984 is 1.44x the 20-day average of 348,880, indicating above-normal trading activity ahead of this fund distribution notice. normal

Technical Shares at $65.09 trade below the 200-day MA of $71.14, and sit 28.53% under the 52-week high and 11.47% above the 52-week low.

Peers on Argus

CNS slipped 0.25% with mixed peer action: AB -1.58% and FHI -1.48% were down, wh...

CNS slipped 0.25% with mixed peer action: AB -1.58% and FHI -1.48% were down, while APAM (+0.5%), DNP (+0.4%), and HTGC (+0.75%) gained, suggesting stock-specific rather than broad sector momentum.

Historical Context

5 past events · Latest: Jan 22 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 22	Earnings results	Neutral	-4.2%	Reported Q4 and full‑year 2025 financial results and held earnings call.
Jan 14	Earnings date set	Neutral	+1.4%	Announced timing for Q4 and full‑year 2025 results and conference call.
Jan 12	AUM update	Neutral	-0.6%	Provided preliminary December 2025 AUM and flows by vehicle type.
Jan 12	Leadership appointment	Neutral	+0.3%	Named COO and Head of Asset Management for Private Real Estate Group.
Jan 07	Regional leadership	Neutral	-0.7%	Appointed Head of Japan to lead local operations and client relationships.

Pattern Detected

Recent CNS headlines (earnings, AUM updates, leadership changes) have produced relatively modest, mixed price reactions without a clear directional pattern.

Recent Company History

Over the last month, CNS news has focused on operations and financial reporting. An earnings release on Jan 22, 2026 was followed by a -4.17% move, while the prior earnings date announcement on Jan 14 coincided with a +1.44% reaction. Earlier in January, preliminary AUM data and management appointments in private real estate and Japan produced small moves between about -0.66% and +0.35%. Against this backdrop, the FOF distribution notice represents routine fund-level information alongside CNS’s broader asset management activity.

Market Pulse Summary

This announcement outlines FOF’s January 2026 distribution and its tax character, with $0.0870 per s...

Analysis

This announcement outlines FOF’s January 2026 distribution and its tax character, with $0.0870 per share entirely from long‑term capital gains, plus context on 2025 performance and distribution rates. It also notes a 19.88% NAV total return for 2025, a 9.75% five‑year average annual NAV return, and a 7.91% current annualized distribution rate. Investors may monitor how future distributions balance net investment income, capital gains, and any return of capital alongside CNS’s broader business trends.

Key Terms

managed distribution policy, return of capital, net asset value, net investment income, +2 more

6 terms

managed distribution policy financial

"In December 2021, 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.

return of capital financial

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

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 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.

net investment income financial

"The Fund's monthly distributions may include long-term capital gains... net investment income and/or return of capital..."

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.

Form 1099-DIV regulatory

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

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.

EDGAR Database regulatory

"These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database."

The EDGAR database is the U.S. regulator’s public online repository for official company filings such as financial reports, registration statements and insider-trading disclosures. Think of it as a public filing cabinet or library where investors can read the primary documents companies are legally required to submit, allowing anyone to verify financial results, track changes in ownership, and spot risks or inconsistencies before making investment decisions.

AI-generated analysis. Not financial advice.

NEW YORK, Jan. 27, 2026 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Closed-End Opportunity Fund, Inc. (NYSE: FOF) (the "Fund") with information regarding the sources of the distribution to be paid on January 30, 2026 and cumulative distributions paid fiscal year-to-date.

In December 2021, 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. The 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. 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	January 2026		YEAR-TO-DATE (YTD) January 31, 2026*
Source	Per Share Amount	% of Current Distribution	Per Share Amount	% of 2026 Distributions
Net Investment Income	$0.0000	0.00 %	$0.0000	0.00 %
Net Realized Short-Term Capital Gains	$0.0000	0.00 %	$0.0000	0.00 %
Net Realized Long-Term Capital Gains	$0.0870	100.00 %	$0.0870	100.00 %
Return of Capital (or other Capital Source)	$0.0000	0.00 %	$0.0000	0.00 %
Total Current Distribution	$0.0870	100.00 %	$0.0870	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 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 2025 (January 1, 2025 through December 31, 2025) 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 2025. In addition, the Fund's Average Annual Total Return for the five-year period ending December 31, 2025 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2025. 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, 2025 to December 31, 2025
Year-to-date Cumulative Total Return1	19.88 %
Cumulative Distribution Rate2	0.66 %
Five-year period ending December 31, 2025
Average Annual Total Return3	9.75 %
Current Annualized Distribution Rate4	7.91 %

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 January 31, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of December 31, 2025.
3.	Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending December 31, 2025. 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 December 31, 2025.

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)

View original content:https://www.prnewswire.com/news-releases/cohen--steers-closed-end-opportunity-fund-inc-fof-notification-of-sources-of-distribution-under-section-19a-302671839.html

SOURCE Cohen & Steers, Inc.

FAQ

What is Cohen & Steers (CNS) paying on January 30, 2026 and where does it come from?

The Fund is paying $0.0870 per share on January 30, 2026, entirely from net realized long-term capital gains. According to the company, the estimated source is 100% long-term capital gains with no net investment income or return of capital.

How should CNS shareholders treat the January 2026 distribution for taxes?

Shareholders should wait for the Form 1099-DIV to report tax treatment for the calendar year. According to the company, the distribution estimates are preliminary and final tax characteristics will be provided on Form 1099-DIV after year-end.

What was Cohen & Steers Closed-End Opportunity Fund's year-to-date NAV return for 2025 (CNS)?

The Fund reported a year-to-date cumulative total return of 19.88% for 2025. According to the company, this NAV-based return includes distributions and assumes reinvestment of those distributions.

What are CNS's distribution rate metrics reported for the current period and five-year span?

The Fund reported a cumulative distribution rate of 0.66% YTD and a current annualized distribution rate of 7.91%. According to the company, the five-year average annual total return is 9.75%.

Does the January 2026 CNS distribution include return of capital?

No, the estimated January 2026 distribution shows 0.00% from return of capital. According to the company, the current estimate attributes the distribution entirely to net realized long-term capital gains.

Could Cohen & Steers (CNS) change its managed distribution policy or distribution sources?

Yes, the Board may amend, suspend or terminate the managed distribution policy at any time, which could affect distributions or market price. According to the company, monthly distribution sources may vary with portfolio and market conditions.