World News: 13:00 GMT Wednesday 11th September 2019. [RMR Funds via Businesswire via SPi World News]
RMR Real Estate Income Fund (NYSE American: RIF) today announced its regular quarterly distribution to common shareholders. The distribution of $0.33 per common share will be paid on or about September 30, 2019 to holders of record of common shares as of the close of business on September 23, 2019. RIF’s distribution was approved by its Board of Trustees under RIF’s managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. RIF intends to include net realized capital gains, where applicable, as part of its regular quarterly distribution to common shareholders.
The following table provides RIF’s estimated distribution sources for the distribution declared today on common shares for the quarter ending September 30, 2019 from the sources indicated pursuant to Section 19(a) of the Investment Company Act of 1940, as amended.
Year to Date
Net investment income
Net realized short term capital gains
Net realized long term capital gains
Return of capital
RIF’s net investment income is based on an estimate of the excess of cash distributions received from its investments less its operating expenses, interest expense and distributions to preferred shareholders for the periods presented. RIF has substantial investments in real estate investment trusts, or REITs, which generally will characterize distributions to their shareholders, including RIF, as ordinary income, net capital gain or return of capital. However, it is not possible for RIF to characterize distributions received from REITs during interim periods because the REIT issuers do not report the tax characterization of their distributions until subsequent to year end. Therefore, it is likely that some portion of RIF’s net investment income, and thus RIF’s distributions to its common shareholders estimated to be from net investment income, will be recharacterized as net capital gain and/or return of capital subsequent to year end.
You should not draw any conclusions about the RIF’s investment performance from the amount of this distribution or from the terms of RIF’s managed distribution policy. The amounts and sources of distribution reported in this press release are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon RIF’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. RIF 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.
RIF’s year to date cumulative total return for 2019 (January 1, 2019 through August 31, 2019) is set forth below. RIF’s average annual total return for the five-year period ending August 31, 2019 is also set forth below.
RIF Performance and Distribution Rate Information Based on Net Asset Value:
Year to date: January 1, 2019 to August 31, 2019
Cumulative total return1
Cumulative distribution rate2
Five year period ending August 31, 2019
Average annual total return3
Current annualized distribution rate4
Performance results reflect past performance and are no guarantee of future results. Investment return and principal value of shares will fluctuate so that shares, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted.
RIF is a closed end investment company advised by RMR Advisors LLC. RMR Advisors LLC is a wholly owned subsidiary of The RMR Group LLC, an alternative asset management company. The RMR Group LLC is a majority owned subsidiary of The RMR Group Inc. (Nasdaq: RMR). The RMR Group Inc. is headquartered in Newton, MA.
WARNINGS REGARDING FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute forward-looking statements within the meaning of the private securities litigation reform act of 1995 and other securities laws. These forward-looking statements are based upon RIF’s present intent, beliefs and expectations, but forward-looking statements are not guaranteed to occur and may not occur for numerous reasons, some of which are beyond RIF’s control. For example:
For these and other reasons, investors should not place undue reliance upon forward-looking statements. Except as required by law, RIF does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
Business Wire: 13:00 GMT Wednesday 11th September 2019
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