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Neuberger Berman MLP And Energy Income Fund Announces Monthly Distributions

NEW YORK, Dec. 31, 2019 /PRNewswire/ -- Neuberger Berman MLP and Energy 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 listed below:

Neuberger Berman Logo (PRNewsFoto/Neuberger Berman Group LLC)

 

 

Month

 

 

Ex- Date

 

 

Record Date

 

 

Payable Date

 

Amount
per Share

January

January 14, 2020

January 15, 2020

January 31, 2020

$0.055

February

February 14, 2020

February 18, 2020

February 28, 2020

$0.055

March

March 13, 2020

March 16, 2020

March 31, 2020

$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 the Fund 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 not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2020 will be made after the end of the year.

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, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 23 countries, Neuberger Berman's diverse team has 2,100 professionals. For six consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). The firm was awarded an A+ in every category in the latest 2019 PRI report for our approach to ESG integration across asset classes. The firm manages $339 billion in client assets as of September 30, 2019. 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

Cision

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SOURCE Neuberger Berman