Did anyone see this? So instead of making those nice large distributions at the end of the year which jacks up the yield in excess of what's posted on Yahoo, they are planning on making them with the normal monthly distribution.
Too, bad. Because this will increase the price of the stock and it seems to me (no proof) that the stock fluctuates a lot since no one knows how much will be distributed at the end of the year. I have always seemed to buy these shares at a bargain, including at the moment.
Where else can you find a stock paying $2.40 evenly through out the year and then at the end of the year pay you another addtional amount typically in excess of $1.00. If this holds true this year, that is a yield in excess of 23%.
Maybe a closer look is advised? Since they pay a divvy of $ .20 per month, " How much was ROC"( Return of Capital)? Wth a planned payment of Capital gains monthly, just maybe,Cohen & Steers will use the Capital Gains monies and not ROC. In either event, the fund should rise in price because NAV will increase rather that decline in value after each dividend pay date. I've emailed C&H. Hopefully they'll answer this question? So far, the integrity of C&H closed end funds, after my investing in them since inception, shows they are very well managed.
cns are some of the best in managers of cef's and seem to have the shareholder in mind when making moves. my take on the managed distribution is to acctually up the distribution paid in some months. The one problem with the lump sum end of year payments was (while i lovedgetting the cash) was the cef would spike for a short time but after the x date just drift lower.