Neuberger Berman Rlty Fd (NYSE:NRI)
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From Sep 2019 to Sep 2024
On December 4, 2007 the Neuberger Berman Realty Income Fund Inc. (the “Fund”),
which trades on the New York Stock Exchange under ticker symbol NRI,
issued a press release that on December 3, 2007 its Board of Directors
declared a special distribution of $1.57110 per share, payable on
December 31, 2007 to stockholders of record on December 17, 2007. After
the close of trading on December 13, 2007, NRI’s
net asset value (NAV) reflected the special distribution. The NYSE was
not aware of NRI’s special distribution
declaration or the respective record and distribution dates.
On December 17, 2007, the NYSE set an ex date of December 18, 2007, the
day after the record date. This will result in due bills for the
distribution being issued with respect to trades that occurred on
December 13, 14 and 17. The effect of issuing due bills is that sellers
on those days will not receive the special distribution and the buyers
on those days will receive the special distribution.
The December 18th ex-date relates only to the
$1.57110 special distribution declared on December 3, 2007. Both the
regular monthly distribution and the special distribution will be paid
on December 31, 2007.
This distribution, as well as future distributions, may consist of net
investment income, realized capital gains and return of capital.
The Fund invests a significant portion of its assets in securities
issued by real estate investment trusts (“REITs”).
The distributions the Fund receives from REITs are generally comprised
of income, capital gains, and return of capital but the REITs do not
provide the Fund a final report on the character of their distributions
until the following calendar year. After calendar year-end, when the
Fund learns the actual nature of distributions it received from the
REITs during that year, distributions previously identified as income
are often recharacterized as a return of capital and/or capital gain.
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 net investment income. This notice would be for
informational 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.
Neuberger Berman Management Inc., the Fund’s
investment manager, is a subsidiary of Neuberger Berman Inc., an
investment advisory company serving individuals, families, and taxable
and non-taxable institutions with a broad range of investment products,
services and strategies. A Lehman Brothers company, Neuberger Berman
engages in wealth management services including private asset
management, tax and financial planning, and personal and institutional
trust services; mutual funds, institutional management and alternative
investments; and professional securities services. For further
information about Neuberger Berman please visit www.nb.com.
Lehman Brothers (ticker symbol: LEH), an innovator in global finance,
serves the financial needs of corporations, governments and
municipalities, institutional clients and high-net-worth individuals
worldwide. Founded in 1850, Lehman Brothers maintains leadership
positions in equity and fixed income sales, trading and research,
investment banking, private investment management, asset management and
private equity. The Firm is headquartered in New York, with regional
headquarters in London and Tokyo, and operates in a network of offices
around the world. For further information about Lehman Brothers’
services, products and recruitment opportunities, visit the Firm's Web
site at www.lehman.com.
Statements made in this release that look forward in time involve risks
and uncertainties and are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. 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.