Cohen & Steers Open-End Mutual Funds Announce Projected Capital Gain Distributions
19 Novembre 2007 - 11:52PM
PR Newswire (US)
NEW YORK, Nov. 19 /PRNewswire-FirstCall/ -- Cohen & Steers
Capital Management, Inc., the investment advisor to each of the
Cohen & Steers open- end mutual funds, announced projected
short-term and long-term capital gain distributions for 2007 as
follows: Cohen & Steers Realty Shares, Inc. (NASDAQ:CSRSX)
$0.97-$1.12 per share-short-term $10.15-$11.69 per share-long-term
Cohen & Steers Realty Income Fund, Inc.
(NASDAQ:CSEIXNASDAQ:CSBIXNASDAQ:CSCIXNASDAQ:CSDIX) $0.12-$0.15 per
share-short-term $1.88-$2.30 per share-long-term Cohen & Steers
Institutional Realty Shares, Inc. (NASDAQ:CSRIX) $0.94-$1.11 per
share-short-term $4.95-$5.83 per share-long-term Cohen & Steers
Utility Fund, Inc.
(NASDAQ:CSUAXNASDAQ:CSUBXNASDAQ:CSUCXNASDAQ:CSUIX) $0.51-$0.69 per
share-short-term $2.29-$3.12 per share-long-term Cohen & Steers
International Realty Fund, Inc.
(NASDAQ:IRFAXNASDAQ:IRFCXNASDAQ:IRFIX) $0.37-$0.46 per
share-short-term $0.22-$0.28 per share-long-term Cohen & Steers
Asia Pacific Realty Shares, Inc.
(NASDAQ:APFAXNASDAQ:APFCXNASDAQ:APFIX) $0.56-$0.70 per
share-short-term $0.02-$0.05 per share-long-term Cohen & Steers
VIF Realty Fund, Inc. (NASDAQ:CSRVX) $0.29-$0.48 per
share-long-term Cohen & Steers Institutional Global Realty
Shares, Inc., Cohen & Steers European Realty Shares, Inc. and
Cohen & Steers Global Realty Shares, Inc. are not expected to
declare capital gain distributions for 2007. Cohen & Steers
Global Realty Shares, Inc. was formerly known as Cohen & Steers
Realty Focus Fund, Inc.; a long-term capital gain distribution was
paid to Realty Focus Fund shareholders on September 28, 2007, the
effective date of the name change and new investment mandate. Cohen
& Steers VIF Realty Fund, Inc. is not expected to declare a
short-term capital gain distribution for 2007. The funds are
expected to pay capital gain distributions on December 31, 2007 to
shareholders of record as of December 28, 2007, with an ex-dividend
date of December 31, 2007. For updates on this and other fund
information, please visit the Cohen & Steers Web site at
cohenandsteers.com. The projections identified above represent
estimates and are subject to change based on portfolio, market and
shareholder activity and tax adjustments. The statement that
certain funds are not expected to pay capital gain distributions
for 2007 is also a forecast and is subject to change. Actual
capital gain distributions will appear on shareholders' 1099-DIV
forms, which will be mailed in early 2008. Shareholders should keep
in mind that some broker-dealers may distribute information on fund
capital gain distributions based on preliminary data and
subsequently distribute revised reports after the fund calculates
final distribution amounts for the 2007 tax year. Shareholders
should also remember that the net asset value of a fund with a
capital gain distribution will decline on the "ex-dividend" date to
reflect the adjusted net asset value of the fund after the
distribution, in addition to any effect the market's performance
had on the securities within the fund's portfolio on that day. All
capital gain distributions are divided equally among share classes.
This information reflects distribution activities at the fund level
only. Certain of the funds will own securities issued by REITs. A
portion of the dividends paid by REITs may be recharacterized for
tax purposes following year-end as capital gain and/or return of
capital. To the extent this occurs, distributions paid by the fund
during the year also will be reclassified to reflect these REIT
recharacterizations. Therefore, the composition of a fund's
distributions during a year may change substantially by year-end.
If these changes occur, they may reduce the net investment income
component of fund distributions and increase the capital gain
and/or return of capital components. You can find more information
regarding the tax character of fund distributions by visiting the
Cohen & Steers Web site at cohenandsteers.com. Shareholders
will receive notification in a Form 1099-DIV of the exact
composition of all distributions for the year and the related tax
treatment. Cohen & Steers Capital Management, Inc. is a wholly
owned subsidiary of Cohen & Steers, Inc., a publicly traded
company whose common stock is listed on the New York Stock Exchange
under the symbol "CNS." DATASOURCE: Cohen & Steers Capital
Management, Inc. CONTACT: Francis C. Poli, executive vice president
and general counsel of Cohen & Steers Capital Management, Inc.,
+1-212-446-9112 Web site: http://www.cohenandsteers.com/
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