NEW YORK, Dec. 29, 2017 /PRNewswire/ -- Neuberger Berman
MLP Income Fund Inc. (NYSE American: NML) (the "Fund") announced
today the declaration of three monthly distributions of
$0.055 per share of common
stock. The record, ex-date and payment dates for each
distribution are below:
Month
|
Ex-
Date
|
Record
Date
|
Payable
Date
|
Amount per
Share
|
January
|
January 12,
2018
|
January 16,
2018
|
January 31,
2018
|
$0.055
|
February
|
February 14,
2018
|
February 15,
2018
|
February 28,
2018
|
$0.055
|
March
|
March 14,
2018
|
March 15,
2018
|
March 29,
2018
|
$0.055
|
The Fund currently intends to make regular monthly cash
distributions to holders of its common stock at a fixed rate per
share, to be determined based on the projected net rate of return
of the Fund's investments, subject to adjustment from time to
time. The Fund currently intends to pay its regular monthly
distributions out of its distributable cash flow, which generally
consists of (1) cash and paid-in-kind distributions from MLPs or
their affiliates, dividends from common stocks, interest from debt
instruments and income from other investments held by NML less (2)
current or accrued operating expenses, including leverage costs, if
any, and taxes on its taxable income.
The Fund expects that a portion of its distributions to
stockholders will constitute a non-taxable return of capital. A
"return of capital" is a distribution by the Fund that exceeds the
Fund's current and accumulated earnings and profits and which
represents a return of a common stockholder's original investment,
and should not be confused with a dividend. To the extent the
Fund pays a return of capital, a common stockholder's
basis in Fund shares will be reduced, which will increase
a capital gain or reduce a capital loss upon sale of those
shares. There is no assurance that the Fund will always
be able to pay distributions of a particular size, or that a
distribution will consist solely of the Fund's current and
accumulated earnings and profits.
In compliance with Section 19 of the Investment Company Act of
1940, as amended, a notice would be provided for any distribution
that does not consist solely of income. The notice would be for
informational purposes, and would disclose, among other things,
estimated portions of the distribution, if any, consisting of
return of capital.
The Fund is subject to federal income tax on its taxable income,
unlike most investment companies. Any taxes paid by the Fund will
reduce the amount available to pay distributions to stockholders,
and therefore investors in the Fund will likely receive lower
distributions than if they invested directly in MLPs.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity and hedge funds—on behalf of
institutions, advisors and individual investors globally. With
offices in 19 countries, Neuberger Berman's team is approximately
1,900 professionals, as of September 30,
2017. For five consecutive years, the company has been named
to Pensions & Investments Best Places to Work in Money
Management survey (among those with 1,000 employees or more).
Tenured, stable and long-term in focus, the firm fosters an
investment culture of fundamental research and independent
thinking. It manages $284 billion in
client assets as of September 30,
2017. For more information, please visit our website at
www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
View original content with
multimedia:http://www.prnewswire.com/news-releases/neuberger-berman-mlp-income-fund-announces-monthly-distributions-300576123.html
SOURCE Neuberger Berman