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Cohen & Steers Select Preferred and Income Fund Inc. (symbol: PSF) is a diversified closed-end investment company that focuses on generating high current income and capital appreciation. The Fund invests primarily in preferred and other income securities issued by both U.S. and non-U.S. companies.
Founded in 1986, Cohen & Steers is a global investment manager specializing in liquid real assets, such as real estate securities, listed infrastructure, commodities, and natural resource equities. The firm also offers preferred securities and various income solutions. With headquarters in New York City, Cohen & Steers operates additional offices in London, Hong Kong, Tokyo, and Seattle.
The Fund recently announced significant changes to its distribution policies. As of July 1, 2023, the Board of Directors approved a new policy aimed at maintaining regular monthly distributions at a level rate. This policy replaces the managed distribution plan implemented in December 2016. 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.
The Fund has disclosed that a portion of its distributions may exceed its income and capital gains, potentially resulting in a return of capital. Shareholders will receive a Form 1099-DIV at the close of each calendar year detailing how to report these distributions for federal income tax purposes. Information on the composition of each monthly distribution is made available on the Fund's website and is shared with shareholders via mail.
For the fiscal year 2023, the Fund's Year-to-date Cumulative Total Return and the Average Annual Total Return for the five-year period ending May 31, 2023, have been disclosed. These returns are based on the Fund's net asset value (NAV), which is calculated as the total market value of all securities and other assets held by the Fund minus total liabilities, divided by the total number of shares outstanding. It's important to note that NAV performance may indicate the Fund's investment performance but does not measure an individual shareholder's investment value, which is determined by the market price of the Fund's shares.
Investors are advised to carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. Regulatory filings and the most recent periodic reports are available through financial advisors or the Fund's website. Shareholders should not use distribution information from the Fund for tax return preparation as they will receive an annual Form 1099-DIV for this purpose.
Cohen & Steers is committed to transparency and providing updates on any changes to distribution policies or significant developments. The company continues to be a leader in the investment management sector, specializing in real assets and alternative income solutions.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced key details regarding its upcoming distribution on July 29, 2022. The Fund operates under a managed distribution policy, which aims to provide regular monthly distributions to shareholders, estimated at $0.1350 for July. Notably, YTD cumulative total return is -16.18%, with cumulative distribution rate at 4.50%. Shareholders should note that distributions may include return of capital, which reduces their tax basis. Final tax characteristics will be reported on Form 1099-DIV for the calendar year.
Cohen & Steers Select Preferred and Income Fund (PSF) shareholders are informed about the sources of distributions to be paid on June 30, 2022, and cumulative distributions fiscal year-to-date. The Fund's managed distribution policy allows for regular monthly distributions, which may include net investment income and return of capital. The total current distribution for June 2022 is $0.1350 per share. Year-to-date cumulative total return is -10.58%, while the cumulative distribution rate is 3.59%. The Fund's average annual total return over five years is 4.05%, with a current annualized distribution rate of 7.18%.
The Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced distribution details for shareholders, set for May 31, 2022. The Fund's managed distribution policy, active since December 2016, allows for regular monthly payouts, offering flexibility for capital gains realization. The total current distribution is $0.1350 per share, with net investment income accounting for 83.33% of the latest distribution. The Fund's year-to-date cumulative total return is reported at -9.55%, while the current annualized distribution rate stands at 7.06%.
The press release from April 28, 2022, details the distribution payment for Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) on April 29, 2022. The Fund employs a managed distribution policy initiated in December 2016 to enhance long-term returns through monthly distributions. The current distribution amounts to $0.1350 per share, consisting mainly of net investment income and includes a portion classified as return of capital. The year-to-date cumulative total return is reported at -6.06% with an average annual total return of 5.90% over five years.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced details of the distribution to be paid on March 31, 2022. The Fund operates under a managed distribution policy, allowing it to provide regular monthly distributions, enhancing flexibility for capital gains realization. For March 2022, the distribution is set at $0.1350 per share, consisting entirely of net investment income. Cumulative distributions for the fiscal year have reached $0.4050 per share. The Fund's year-to-date cumulative total return is reported at -6.02%, with a cumulative distribution rate of 1.68%.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced details regarding its February 28, 2022 distribution, which totals $0.1350 per share. The fund operates under a managed distribution policy since December 2016, aiming for long-term total return through monthly distributions, which may include long-term and short-term capital gains, net investment income, or return of capital. Year-to-date, the fund reports a cumulative total return of -2.28% and a cumulative distribution rate of 1.07% as of January 31, 2022.
On January 28, 2022, Cohen & Steers Select Preferred and Income Fund (PSF) announced details regarding its upcoming distribution scheduled for January 31, 2022. The Fund follows a managed distribution policy initiated in December 2016, enabling greater flexibility in capital gains realization. January's distribution totals $0.1350 per share, derived from net investment income ($0.0897) and a return of capital ($0.0453). The Fund emphasizes potential changes in distribution sources and tax implications, advising shareholders to monitor updates on its website.
The press release from Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) informs shareholders about the upcoming distribution on December 31, 2021. Implemented in December 2016, the managed distribution policy allows regular monthly distributions based on long-term capital gains. The total current distribution for December 2021 is $0.1570 per share, comprised of net investment income and long-term capital gains. Year-to-date cumulative total return is 3.92%, with a cumulative distribution rate of 9.29%. Final tax characteristics will be provided on Form 1099-DIV.
The Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced the distribution sources for its November 30, 2021 payment to shareholders. Since adopting a managed distribution policy in December 2016, the Fund has aimed for consistent monthly distributions. The November 2021 distribution totals $0.1570 per share, composed of $0.1056 from net investment income and $0.0514 from long-term capital gains. This reflects a year-to-date cumulative total return of 5.80% and a cumulative distribution rate of 6.44% as of October 31, 2021.
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