Neuberger Berman MLP and Energy Income Fund Announces Monthly Distribution
NEW YORK, May 28, 2021 / PRNewswire / – Neuberger Berman MLP and Energy Income Fund Inc. (NYSE American: NML) (the âFundâ) has announced a distribution statement of $ 0.0148 per common share. The distribution announced today is payable on June 30, 2021, has a registration date of June 15, 2021 and has an expiration date of June 14, 2021.
Due to changes that may continue to occur in the Master Limited Partnership (“MLP”) and Energy markets, as well as the impact these changes may have on closed-end funds that invest in of MLPs, the Fund will continue to assess the stability and adequacy of its payout rate in the coming months. The Fund currently intends to make regular monthly cash distributions to holders of its common shares at a fixed rate per share, which will be determined based on the projected net rate of return on the Fund’s investments as well as other factors, subject to continuous review and adjustment. sometimes. The Fund currently intends to pay its regular monthly distributions from its distributable cash flow, which generally consist of (1) cash and in-kind distributions from MLPs or their affiliates, dividends from common stock , interest on other investments held by the Fund less (2) current or accrued operating expenses, including leverage costs, if any, and taxes on its taxable income.
The Fund anticipates that a portion of its distributions to shareholders will be a non-taxable return of capital. A âreturn of capitalâ is a distribution by the Fund which represents a return on the initial investment of an ordinary shareholder and should not be confused with a dividend. To the extent that the Fund pays a return of capital, the common share base of the Fund will be reduced, which will increase a capital gain or reduce a capital loss on the sale of such shares. There can be no assurance that the Fund will always be able to make distributions of a particular size or that a distribution will consist solely of current and accrued earnings and profits of the Fund.
Pursuant to section 19 of the Investment Companies Act 1940, as amended, notice would be provided for any distribution which does not consist solely of income. The notice would be for informational purposes and not for tax reporting purposes and would disclose, among other things, the estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2021 will be made after the end of the year.
The Fund is subject to federal income tax on its taxable income, unlike most investment companies. Any tax paid by the Fund will reduce the amount available to pay distributions to shareholders and, therefore, investors in the Fund are likely to receive lower distributions than if they invested directly in MLPs.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent and employee-owned investment manager. The company manages a range of strategies – including equities, fixed income, quantitative and multi-asset asset classes, private equity, real estate and hedge funds – on behalf of institutions, advisers and individual investors from around the world. With offices in 25 countries, Neuberger Berman’s diverse team consists of more than 2,300 professionals. For seven consecutive years, the company has been named first or second in the Pensions & Investments Best Places to Work in Money Management survey (among people with 1,000 or more employees). In 2020, the PRI named Neuberger Berman Leader, a distinction awarded to less than 1% of investment firms for excellence in environmental, social and governance (ESG) practices. The PRI also awarded Neuberger Berman an A + in each category eligible for our approach to ESG integration across asset classes. The firm manages 402 billion dollars in the client’s assets from March 31, 2021. For more information, please visit our website at www.nb.com.
Statements made in this press release which forward in time involve risks and uncertainties. These risks and uncertainties include, but are not limited to, the adverse effect of a decline in the securities markets or a decline in the performance of the Fund, a general downturn in the economy, competition from other companies. closed-end investment, changes in government policy or regulations, inability of the Fund’s investment advisor to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unanticipated costs and other effects associated with lawsuits or investigations of government and self-regulatory organizations.
Neuberger Berman Investment Advisers LLC
SOURCE Neuberger Berman