Cohen & Steers Total Return Realty Fund, Inc. (RFI) Announces Completion of Merger and Declares 10% Increase in Distribution Rate - wistv.com - Columbia, South Carolina |

Cohen & Steers Total Return Realty Fund, Inc. (RFI) Announces Completion of Merger and Declares 10% Increase in Distribution Rate

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SOURCE Cohen & Steers; Cohen & Steers Total Return Realty Fund, Inc.

NEW YORK, June 16, 2014 /PRNewswire/ -- After the close of business on Friday, June 13, 2014, Cohen & Steers Dividend Majors Fund, Inc. (NYSE: DVM) completed its reorganization and merger (the "Reorganization") with and into Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI).

In the Reorganization, RFI acquired substantially all of the assets and liabilities of DVM in a tax-free transaction in exchange for an equal aggregate value of newly issued common shares of RFI.   DVM distributed the common shares of RFI (and cash in lieu of fractional shares) to its common shareholders in an amount equal to the aggregate net asset value of DVM common shares as determined at the close of business on June 13, 2014. The net asset value per share of each fund as of June 13, 2014 and the exchange ratio at which common shares of DVM were exchanged for common shares of RFI are set forth below:

Fund


 NAV per
Share ($)

Exchange Ratio


Cohen & Steers Dividend Majors Fund, Inc.

$17.6229

1.315505 RFI common shares per DVM common share

Cohen & Steers Total Return Realty Fund, Inc.

$13.3963

-







Pursuant to the Reorganization, 16,550,351 common shares of RFI were issued. Common shareholders of DVM will receive a statement showing the number of RFI shares that they own as a result of the Reorganization. In addition, the frequency and manner in which shareholders of DVM received their dividend payments will be the same as shareholders of RFI.

The Board of Directors of RFI declared an increase in the third quarter 2014 distribution to $0.24 per share from $0.22 per share, a 10%, or $0.02 per share increase from the second quarter 2014. The payable and stockholder record dates will be announced in the third quarter.

RFI is a non-leveraged closed-end fund designed to invest in real estate securities including real estate investment trusts. Following the Reorganization, RFI had $350.1 million in assets under management.

More information is available at cohenandsteers.com.  

//Website: http://cohenandsteers.com/

Symbol: NYSE: CNS, RFI

About Cohen & Steers. Founded in 1986, Cohen & Steers is a leading global investment manager with a long history of innovation and a focus on real assets, including real estate, infrastructure and commodities. Headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle, Cohen & Steers serves institutional and individual investors around the world.

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