Cohen & Steers Total Return Realty Fund, Inc. (RFI) Declares June 2013
NEW YORK, June 7, 2013
NEW YORK, June 7, 2013 /PRNewswire/ --The Board of Directors of Cohen &
Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the "Fund") declared its
second quarter 2013 distribution as summarized in the chart below:
Amount of Ex-Dividend Record Payable
Distribution Date Date Date
$0.2200 June 18, 2013 June 20, 2013 June 28, 2013
In December 2011, 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 quarterly 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 quarterly 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 quarterly 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. In addition, distributions from the Fund's investments in real
estate investment trusts (REITs) may later be characterized as capital gains
and/or a return of capital, depending on the character of the dividends
reported to the Fund after year-end by REITs held by the Fund. The amount of
quarterly distributions may vary depending on a number of factors, including
changes in portfolio and market conditions.
At the time of each quarterly distribution, information will be posted to
cohenandsteers.com and mailed to common 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 2013
June 30, 2013*
Source Per Share % of Current Per Share % of 2013
Amount Distribution Amount Distributions
Net Investment Income $0.0721 32.77% $0.1350 30.68%
Net Realized Short-Term Capital $0.0000 0.00% $0.0000 0.00%
Net Realized Long-Term Capital $0.1479 67.23% $0.3050 69.32%
Return of Capital (or other $0.0000 0.00% $0.0000 0.00%
Total Current Distribution $0.2200 100.00% $0.4400 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 2013 (January
1, 2013 through May 31, 2013) 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 2013. Moreover, the Fund's Average
Annual Total Return for the five-year period ending May 31, 2013 is set forth
below. Shareholders should also note the relationship between the Average
Annual Total Return with the Fund's Current Annualized Distribution Rate for
2013. In addition, the performance and distribution rate information disclosed
in the table below 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, 2013 to May 31, 2013
Year-to-date Cumulative Total Return^1 7.56%
Cumulative Distribution Rate^2 3.20%
Five year period ending May 31, 2013
Average Annual Total Return^3 8.14%
Current Annualized Distribution Rate^4 6.40%
Year-to-date Cumulative Total Return is the percentage change in the Fund's
1. NAV over the year-to-date time period including distributions paid and
assuming reinvestment of those distributions.
Cumulative Distribution Rate for the Fund's current fiscal period (January
2. 1, 2013 through June 30, 2013) 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, 2013.
Average Annual Total Return represents the compound average of the Annual
NAV Total Returns of the Fund for the five year period ending May 31, 2013.
3. Annual NAV Total Return is the percentage change in the Fund's NAV over a
year including distributions paid and assuming reinvestment of those
The Current Annualized Distribution Rate is the current fiscal period's
4. distribution rate annualized as a percentage of the Fund's NAV as of May
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.
More information is available at cohenandsteers.com.
Symbol: NYSE: CNS
About Cohen & Steers. Founded in 1986, Cohen & Steers is a leading global
investment manager with a long history of innovation and a focus on real
assets, including real estate, infrastructure and commodities. Headquartered
in New York City, with offices in London, Hong Kong, Tokyo and Seattle, Cohen
& Steers serves institutional and individual investors around the world.
SOURCE Cohen & Steers; Cohen & Steers Total Return Realty Fund, Inc.
Contact: Anthony Ialeggio, Senior Vice President, Director of Global
Marketing, Cohen & Steers, Inc., (212) 796-9345
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