NEW YORK, December 31, 2021 / PRNewswire / – Neuberger Berman MLP and Energy Income Fund Inc. (American NYSE: NML) (the “Fund”) has announced a distribution statement of $ 0.0163 per common share. The distribution announced today is payable on January 31, 2022, has a recording date of January 18, 2022 and has an ex date of January 14, 2022.
Due to the changes that may continue to occur in the Master Limited Partnership (“MLP”) and energy markets, as well as the impact these changes may have on closed-end funds that invest in MLPs , the Fund will continue to assess the stability and relevance of its distribution rate in the coming months. The Fund currently intends to make regular monthly cash distributions to holders of its common shares at a fixed rate per share, which will be determined based on the projected net rate of return on the Fund’s investments as well as other factors, subject to continuous review and adjustment. sometimes. The Fund currently intends to pay its regular monthly distributions from its distributable cash flow, which generally consist of (1) cash and in-kind distributions paid by MLPs or their affiliates, dividends from shares. ordinary, interest on debt securities and income from other investments held by the Fund less (2) current or accrued operating expenses, including leverage costs, if any, and taxes on his taxable income.
The Fund expects a portion of its distributions to shareholders to be a tax-free return of capital. A “return of capital” is a distribution by the Fund which represents a return on the initial investment of an ordinary shareholder and should not be confused with a dividend. To the extent that the Fund pays a return of capital, an ordinary shareholder’s base of shares of the Fund will be reduced, which will increase a capital gain or reduce a capital loss on the sale of such shares. There can be no assurance that the Fund will always be able to make a distribution of any particular amount, or that a distribution will consist solely of the current and accrued earnings and profits of the Fund.
Pursuant to Section 19 of the Investment Companies Act 1940, as amended, notice would be provided for any distribution which does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, the estimated portions of the distribution, if any, comprised of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2022 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 tax paid by the Fund will reduce the amount available to pay distributions to shareholders and, therefore, investors in the Fund are likely to receive lower distributions than if they had invested directly in MLPs.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent and employee-owned investment manager. The company manages a range of strategies, including equities, fixed income, quantitative and multi-asset classes, private funds, real estate and hedge funds, on behalf of institutions, advisers and investors. individual investors around the world. With offices in 25 countries, Neuberger Berman’s diverse team consists of more than 2,400 professionals. For eight consecutive years, the company has been named first or second in the Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 or more employees). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to less than 1% of investment firms for excellence in environmental, social and governance (ESG) practices. The PRI also awarded Neuberger Berman an A + in each eligible category for our approach to ESG integration across all asset classes. The company manages $ 437 billion in customer assets at September 30, 2021. For more information, please visit our website at www.nb.com.
Statements made in this press release which are projected over time involve risks and uncertainties. These risks and uncertainties include, but are not limited to, the negative effect of a downturn in the securities markets or a decline in the performance of the Fund, a general downturn in the economy, competition from other companies. closed-end investment, changes in government policy or regulations, the inability of the Fund’s investment advisor to attract or retain key employees, the Fund’s inability to implement its investment strategy, the Fund’s inability to cope with rapid expansion and unanticipated costs and other effects associated with legal proceedings or investigations by government and self-regulatory bodies.
Neuberger Berman Investment Advisers LLC
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