Neuberger Berman Realty Income Fund Declares Special Distribution

Strategic Insights -

The Board of Directors of Neuberger Berman Realty Income Fund Inc. has declared a special distribution of $0.66550 per share payable to shareholders on December 29, 2006. This special distribution helps meet the Fund's 2006 distribution requirements for federal tax purposes. The distribution may consist of net investment income, realized capital gains, and return of capital, with a significant portion of assets invested in real estate investment trusts (REITs).

Key Takeaways:

  • The Neuberger Berman Realty Income Fund has declared a special distribution of $0.66550 per share to meet its 2006 distribution requirements.
  • The distribution may consist of net investment income, realized capital gains, and return of capital, with a significant portion of assets invested in REITs.
  • The Fund's distributions from REITs are generally comprised of income, capital gains, and return of capital, but the REITs do not report this information to the Fund until the following calendar year.
  • In compliance with Section 19 of the Investment Company Act of 1940, a notice will be provided for any distribution that does not consist solely of net investment income.
  • The Fund's investment adviser, Neuberger Berman Management Inc., is a subsidiary of Neuberger Berman Inc., an investment advisory company serving individuals, families, and taxable and non-taxable institutions.
  • Lehman Brothers, a global finance innovator, serves the financial needs of corporations, governments, and municipalities, and is the parent company of Neuberger Berman.

Statistics:

  • Special distribution amount: $0.66550 per share
  • Record date: December 15, 2006
  • Payment date: December 29, 2006
  • Investment in REITs: significant portion of Fund's assets
  • Distributions from REITs: generally comprised of income, capital gains, and return of capital

Sources:

  • Neuberger Berman Realty Income Fund Inc. press release, date not specified
  • Neuberger Berman Management Inc. website, www.nb.com
  • Lehman Brothers website, www.lehman.com
  • Investment Company Act of 1940, as amended, Section 19