NEW
YORK, June 23,
2017 /PRNewswire/ -- This press release provides
shareholders of Cohen & Steers Limited Duration
Preferred and Income Fund, Inc. (NYSE: LDP) (the "Fund") with
information regarding the sources of the distribution to be paid on
June 30, 2017 and cumulative
distributions paid fiscal year-to-date.
In December 2016, 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
|
June 2017
|
YEAR-TO-DATE (YTD)
June 30, 2017*
|
Source
|
Per Share
Amount
|
% of Current
Distribution
|
Per Share
Amount
|
% of 2017
Distributions
|
Net Investment Income
|
$0.1450
|
92.95%
|
$0.7478
|
79.89%
|
Net Realized Short-Term Capital
Gains
|
$0.0000
|
0.00%
|
$0.0000
|
0.00%
|
Net Realized Long-Term Capital
Gains
|
$0.0110
|
7.05%
|
$0.1882
|
20.11%
|
Return of Capital (or other Capital
Source)
|
$0.0000
|
0.00%
|
$0.0000
|
0.00%
|
Total Current Distribution
|
$0.1560
|
100.00%
|
$0.9360
|
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
2017 (January 1, 2017 through
May 31, 2017) 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 2017. In addition, the Fund's Average Annual
Total Return for the since-inception period beginning on the Fund's
July 27, 2012 inception and ending
May 31, 2017 is set forth below.
Shareholders should note the relationship between the Average
Annual Total Return with the Fund's Current Annualized Distribution
Rate for 2017. 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, 2017 to May 31,
2017
|
Year-to-date Cumulative Total
Return1
|
9.18%
|
Cumulative Distribution
Rate2
|
3.47%
|
|
Since-inception period to May 31,
2017
|
Average Annual Total
Return3
|
10.97%
|
Current Annualized Distribution
Rate4
|
6.94%
|
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, 2017 through May 31, 2017) measured on
the dollar value of distributions in the year-to-date period as a
percentage of the Fund's NAV as of May 31, 2017.
|
3.
|
Average Annual Total Return represents the compound
average of the Annual NAV Total Returns of the Fund for the
since-inception period beginning on the Fund's July 27, 2012
inception and ending May 31, 2017. 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 May 31, 2017.
|
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 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.
Website: http://cohenandsteers.com/
Symbol: (NYSE: CNS)
About Cohen & Steers. Cohen & Steers is a global
investment manager specializing in liquid real assets, including
real estate securities, listed infrastructure, commodities and
natural resource equities, as well as preferred securities and
other income solutions. Founded in 1986, the firm is headquartered
in New York City, with offices in
London, Hong Kong, Tokyo and Seattle.
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SOURCE Cohen & Steers