Highly doubtful since about half of RNP's holdings are in reit preferreds (which are stable and secure and pay out nice dividends, these dividends cannot go up and the price of good reit preferreds has about maxed out above their $25 call price). Reit common companies have not significantly, if at all,increased their dividends. Thus, I can't see how RNP could increase dividends without making most of it return of capital, which is the big cloud that Cohen & Steers' closed end funds fell under, particularly when they cut their dividends to more realistic levels. Also, RNP is selling at about the smallest discount to assets of any Cohen & Steers closed end fund. In short, I cannot see a catalyst or justification for increasing RNP's dividends. As a shareholder I'd certainly like bigger dividend checks, but strongly doubt any for the foreseeable future.
Iappreciate your analysis. OTOH, I believe that The REIT sector will be showing increased dividends over the next 3 years. I expect Comercial and appartment REITs will increase dividendsin the next 3 quarters and that will result in increasing dividend income which will be paid to us. Check the sector investments in this link http://www.cohenandsteers.com/assets/content/resources/literature/CFS34-Q212_REIT_Preferred_071812.pdf. Note that holdings in Preferred stock have deminished and that there is a substantial increase in banking sector. Just my Opinion.