Neuberger Berman MLP Income Fund Announces Monthly Distributions
Neuberger Berman Management LLC. Investor Information, (877) 461-1899
NEW YORK, July 1, 2014 – Neuberger Berman MLP Income Fund Inc. (NYSE MKT: NML) (the “Fund”) announced today the declaration of three monthly distributions of $0.105 per share of common stock. The record, ex-date and payment dates for each distribution are below:
|Month||Ex- Date||Record Date||Payable Date||Amount per Share|
|July||July 11, 2014||July 15, 2014||July 31, 2014||$0.105|
|August||August 13, 2014||August 15, 2014||August 29, 2014||$0.105|
|September||September 11, 2014||September 15, 2014||September 30, 2014||$0.105|
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 NML 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 nontaxable 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 would disclose, among other things, estimated portions of the distribution, if any, consisting of return of capital.
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 is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutions, advisors and individuals. With offices in 16 countries, Neuberger Berman’s team is approximately 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $243 billion in client assets (as of March 31, 2013). For more information, please visit our website at www.nb.com.