Cohen & Steers MLP Income and Energy Opportunity Fund Update on Leverage and Distribution Rate
Cohen & Steers Inc (CNS)
Last cohen & steers inc earnings: 4/22 04:23 pm
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Source: PR Newswire
NEW YORK, April 7, 2020 /PRNewswire/ -- Over the last month, Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (NYSE: MIE), the "Fund", has reduced its leverage following a period of extreme volatility and price depreciation in the market for master limited partnerships (MLPs) and other midstream energy companies. On March 30, 2020, the Fund announced a reduction of its monthly distribution rate and declared a distribution of $0.015 per share of common stock. Monthly distributions, announced on March 30, 2020, are payable on April 30, May 29 and June 30, 2020. Reduction in LeverageThe Fund reduced the amount of leverage employed in response to adverse market conditions for MLPs and other midstream energy companies, which impacted the value of the Fund's investments and its ability to comply with certain terms of the asset coverage requirements of the Investment Company Act of 1940. The Fund employs a leverage ratio of 26.8% as of April 6, 2020.Reduction in Distribution Rate
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CNS
Sec Filings
- 5/10/24 - Form S-3ASR
- 5/6/24 - Form 8-K
- 5/3/24 - Form 10-Q
- CNS's page on the SEC website