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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.
The press release dated October 27, 2021, announces the distribution sources for Cohen & Steers Select Preferred and Income Fund (PSF) to be paid on October 29, 2021. Following a managed distribution policy since December 2016, the Fund aims for regular monthly distributions at a fixed rate. For October 2021, the total distribution is $0.1570 per share. Year-to-date, the cumulative total return stands at 6.06%, with a cumulative distribution rate of 5.81%. Investors should note that the actual amounts and sources of distributions may change and will be detailed in the Form 1099-DIV after year-end.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced its monthly distribution for September 2021, amounting to $0.1570 per share. The distribution sources include 75.16% from net investment income and 24.84% from net realized long-term capital gains. Cumulative distributions for the fiscal year total $1.4130 per share. The Fund follows a managed distribution policy aimed at delivering steady returns, but the Board can amend or suspend this policy, potentially affecting stock prices.
On July 29, 2021, Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced the upcoming distribution to shareholders scheduled for July 30, 2021. Under a managed distribution policy initiated in December 2016, the Fund aims to deliver long-term returns through regular monthly distributions. The July distribution totals $0.1570 per share, comprising net investment income and long-term capital gains. As of mid-2021, the Fund reports a cumulative total return of 4.82% and a current annualized distribution rate of 6.94%.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) has issued a notice to shareholders detailing the sources of its upcoming distribution on June 30, 2021. The Fund follows a managed distribution policy aimed at delivering long-term returns through fixed monthly distributions. Current distribution estimates include $0.1213 from net investment income and $0.0357 from net realized long-term capital gains. Year-to-date cumulative total return is reported at 3.15%, with a cumulative distribution rate of 3.51%. Investors are advised to review their investment objectives carefully.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced distribution details for shareholders, set to be paid on May 28, 2021. The Fund follows a managed distribution policy aimed at delivering long-term total returns through regular monthly distributions. For May 2021, the total distribution per share is $0.1570, which includes $0.1237 from net investment income, accounting for 78.79% of the current distribution. Year-to-date returns stand at 2.46%, with a cumulative distribution rate of 2.92% as of April 30, 2021. Shareholders should consider tax implications as the final distributions will be detailed in a 1099-DIV form.
The press release from Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) details the sources of the upcoming distribution scheduled for April 30, 2021. The Fund follows a managed distribution policy aimed at providing regular monthly distributions to shareholders. For April, the total distribution is $0.1570 per share, with net investment income contributing $0.0890, while the year-to-date total distribution is $0.6280. The Fund's year-to-date cumulative total return is reported at 0.80%, with a five-year average annual total return of 8.71%. Tax implications are noted for distributions.
The Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced its distribution payment of $0.1570 per share on March 31, 2021. The Fund operates under a managed distribution policy aimed at providing consistent returns through regular monthly distributions. Key components of the current distribution include $0.1326 from net investment income (84.46%) and $0.0244 from net realized long-term capital gains (15.54%). Year-to-date cumulative total return stands at -0.32%, while the average annual total return over five years is 9.22%. Shareholders should await the Form 1099-DIV for tax reporting.
Cohen & Steers Select Preferred and Income Fund (PSF) announced the source details of its upcoming distribution scheduled for February 26, 2021. The Fund adopts a managed distribution policy to provide consistent monthly distributions, which may include long-term capital gains, short-term capital gains, net investment income, and return of capital. For February, the total distribution is $0.1570 per share, with net investment income accounting for $0.1200 (76.43%). The fiscal year-to-date cumulative total return is estimated at -0.16%, while average annual total return over the last five years is 8.67%. The Fund's current annualized distribution rate is 7.08%.
The Cohen & Steers Select Preferred and Income Fund (PSF) announced the distribution payment scheduled for January 29, 2021. The Fund, which follows a managed distribution policy since December 2016, aims to provide long-term total returns through regular monthly distributions. For January 2021, the total distribution is estimated at $0.1570 per share, comprising $0.0970 from net investment income and $0.0600 as return of capital. Year-to-date cumulative total return is recorded at 6.03% with a current annualized distribution rate of 7.03%.
The Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced its distribution sources for the upcoming payment on December 31, 2020. Implementing a managed distribution policy since December 2016, the Fund aims for long-term total return through regular monthly distributions. The December distribution totals $0.1570 per share, comprising net investment income and long-term capital gains. YTD returns show a cumulative rate of 7.45%, while the five-year average annual total return stands at 8.23%. Shareholders should be aware that returns of capital may occur, which affect their tax basis.
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