NEW YORK, Oct. 23, 2020 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) (the "Fund") with information regarding the sources of the distribution to be paid on October 30, 2020 and cumulative distributions paid fiscal year-to-date.
In March 2015, 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. This 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. In addition, distributions from the Fund's investments in MLPs are attributed to various sources, including net investment income and return of capital. 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.
October 31, 2020*
Per Share Amount
% of Current Distribution
Per Share Amount
% of 2020 Distributions
Net Investment Income
Net Realized Short-Term Capital Gains
Net Realized Long-Term Capital Gains
Return of Capital (or other Capital Source)
Total Current Distribution
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 Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. 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 2020 (January 1, 2020 through September 30, 2020) 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 2020. In addition, the Fund's Average Annual Total Return for the five-year period ending September 30, 2020 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2020. 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, 2020 to September 30, 2020
Year-to-date Cumulative Total Return1
Cumulative Distribution Rate2
Five-year period ending September 30, 2020
Average Annual Total Return3
Current Annualized Distribution Rate4
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.
Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2020 through October 31, 2020) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of
September 30, 2020.
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending September 30, 2020. 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.
The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of September 30, 2020.
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 here 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.
Symbol: (NYSE: CNS)
About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, 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, Dublin, Hong Kong, and Tokyo.
Forward-Looking StatementsThis press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.
Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
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SOURCE Cohen & Steers
RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, today announced the launch of CommunityConnect, an integrated, managed service that will vastly accelerate deployment of smart access, smart apartment devices and community-wide ultra-high speed Wi-Fi connections in the multifamily industry.
What is CommunityConnect?
CommunityConnect is a one-stop shop for community-wide smart access to buildings and units, smart devices, and ultra-high-speed community-wide Wi-Fi. Each of these offerings is available stand-alone or in combination with the others as part of a fully managed RealPage® solution set. RealPage and its network of partners will perform and manage the design, engineering, procurement, installation and operations of all aspects of the solution, which are accessible through a single smartphone app.
This single app solution and the integration of hundreds of partners was enhanced by the recent acquisition of STRATIS IoT, which delivers smart buildings and "connected communities.” The name of the STRATIS resident app will become the "CommunityConnect App” and is part of the CommunityConnect family of solutions from RealPage. To see the App in action, link to https://www.realpage.com/videos/communityconnect-app/.
The CommunityConnect App is connected to a central communication hub for each community that monitors the performance of every device in the building 24x7 and takes calls from residents or property staff if there is an outage. The CommunityConnect App enables renters to be instantly provisioned to access community and unit locks, smart devices and secure personal Wi-Fi networks anywhere on the property. The CommunityConnect App is licensed to the property owner on a per unit per month basis with affordable subscription fees tied to which CommunityConnect solutions are deployed and the number of smart devices activated in each community.
CommunityConnect is Positioned to Stimulate Rapid Adoption:
Integrated Smart Access from Sidewalk to Sofa™ unlocks revenue potential worth several hundred dollars per unit per year and corresponding operating cost savings by enabling fobless and keyless site access. Integrating access to gates, buildings, corridors and units is now affordable for less than $300 per door in capital costs, with paybacks in under 18 months in most communities.
Smart Apartment Devices, like smart water meters, thermostats, lights, leak detectors and Google® and Amazon® voice assistants were expensive and did not integrate with each other. Now, prices have dropped and we have the ability to integrate disparate devices into a single resident access point. Working together, these devices can be used to significantly reduce property costs and improve the resident experience. For example, resident utility costs are a sizable expense for renters. If your sustainable apartments reduce energy and water costs by a few hundred dollars per unit per year compared to your competitor, this is a differentiator that will benefit you and your renters in real dollar savings, and renters will value the increased sustainability of your community.
RealPage Community-Wide High-Speed Internet Access (HSIA) solution provides far more than Internet access for residents in their units. Traditional single-family broadband solutions deployed in most apartment buildings today are costly to the resident and are frequently limited to in-unit Wi-Fi. Our managed HSIA solution, offering wired and wireless speeds up to 1Gbps throughout a community, is a cost-effective alternative that provides a personal area network for each resident, a guest network for non-residents, access for on-site leasing managers and maintenance, and can serve as the backbone for your smart community solutions. It enables a community-wide connected lifestyle that enriches the resident experience and can lower resident Internet costs currently paid to cable or phone companies, making your apartment more competitive. It also gives the owner opportunities to reduce expenses and add higher revenue shares from the sale of bulk Wi-Fi. With sub-18-month returns on investment, a managed HSIA solution can support almost every on-site technology solution available today.
Smart and connected communities will become a requirement for many residents who are working at home more and expect the same convenience at home that they enjoy at the office. Apartments that are not smart and not connected will be at a competitive disadvantage to a larger and larger segment of renters, so our expectation is that tens of thousands of apartment buildings will retrofit their apartments to support all aspects of smart technology over the next few years. To see CommunityConnect in action, link to https://www.realpage.com/videos/communityconnect/.
With CommunityConnect, RealPage is now one of the largest integrators of smart apartments in the U.S. with over 600,000 smart apartments deployed through its Resident Technology Services and STRATIS IoT divisions. RealPage will unveil the new CommunityConnect solution—and showcase how the STRATIS acquisition complements it—at REALWORLD2020, Tuesday, September 15 at 10:00 am CDT.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves approximately 19 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit https://www.RealPage.com.
About STRATIS IoT
STRATIS creates smart apartments and intelligent buildings and is the only platform of its kind built for the complexities of multifamily and student housing. STRATIS is installed in over 380,000 units across the U.S., Japan, the UK, EU and Latin America. STRATIS now serves hospitality, retail and small to mid-size commercial, as well. STRATIS is a 3x Inc. 5000 "Fastest Growing Company in America” and a Top Ten Entrepreneur 360 "Best Company in America.” To get more information, visit STRATISIoT.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200914005635/en/
LOS ANGELES, Oct. 23, 2020 /PRNewswire/ -- Christian Rado has found himself at the forefront of a lawsuit brought by a former employee against he and his company, Vaporous Technologies, Inc., based on allegations of retaliation against his former Business Development Manager Adam Temkin for complaining about Rado's attempts to lie to distributors of his vaporizer pens that were contaminated with lead beyond the legal limit.
The lawsuit states that during his employment with Vaporous Technologies, Inc., Temkin discovered that Vaporous Technologies, Inc. was selling and distributing vape cartridges contaminated with led beyond the legal limit. It goes on to state that after he brought this to the attention of Rado, Rado advised Temkin to lie to his clients that Vaporous Technologies, Inc. had never failed a test before and that it must have been a problem with the client's testing. Temkin reminded Rado that Vaporous Technologies, Inc. had failed testing in the past—some failing terribly. The complaint further alleges that as Temkin continued to raise complaints, he was retaliated against by being deprived of sales opportunities, Vaporous Technologies, Inc. refused to pay him, and ultimately terminated his employment because he continued to make complaints of Vaporous Technologies, Inc.'s "illegal activity, including complaints to Defendants about the safety of Defendants' products as well as complaints involving Defendants' non-compliance with California laws and regulations.."
Temkin is represented by Carney Shegerian, founder of Los Angeles-based employee rights law firm Shegerian & Associates.
About Shegerian & Associates:Shegerian & Associates has won clients over $300 million in employment-based disputes and maintains a 98% success rate. We have offices in Los Angeles, San Diego, Riverside and New York.
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SOURCE Shegerian & Associates