Cohen & Steers Select Preferred and Income Fund, Inc. (PSF) Notification of Sources of Distribution Under Section 19(a) – Cohen & Steers Select (NYSE:PSF), Cohen & Steers (NYSE:CNS)

New York, March 29, 2023 /PRNewswire/ — This press release is related to the Cohen & Steers Select Preferred and Income Fund, Inc. provided to the shareholders of psf (“Fund”) with information about the sources of distributions to be paid March 31, 2023 and cumulative distributions paid from fiscal year to year.

In December 2016, the Fund implemented a managed distribution policy in accordance with the exemption relief issued by the Securities and Exchange Commission. The Managed Distribution Policy seeks to generate the long-term total return potential of the fund through regular monthly distributions at a specified rate per share. The policy allows the fund greater flexibility to seek long-term capital gains throughout the year and distribute those gains to shareholders on a regular monthly basis. The Board of Directors of the Fund may modify, terminate or suspend the Managed Distribution Policy at any time, which may have an adverse effect on the market value of the Fund’s shares.

The Fund’s monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital consists of distributions paid by the fund in excess of its net investment income and net realized capital gains and such excess is distributed from the fund’s assets. The return of capital is not taxable; Rather, it reduces the shareholder’s tax basis in his shares of the fund. Monthly distribution amounts may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted on and mailed to shareholders in concurrent notices. However, this information may change at the end of the year because the final tax characteristics of distributions of the Fund cannot be determined with certainty until the end of the calendar year. The final tax characteristics of all distributions from the Fund will be provided on Form 1099-DIV, which is mailed after the end of the calendar year.

The following table sets forth the approximate amounts of current distributions and cumulative distributions paid through this fiscal year-to-date from the indicated sources. All amounts are expressed per common share.

Dispatch Estimate

March 2023

year-to-date (YTD)

March 31, 2023*


per share

% of current

per share

% of 2023

net investment income





Net realized short-term capital gain





Net realized long-term capital gain





return of capital (or other capital source)





total current distribution





You should not draw any conclusions about the investment performance of the Fund from the amount of this distribution or from the terms of the Fund’s managed distribution policy. The Fund is estimated to have distributed an excess of its income and capital gains; Therefore, a portion of your distribution may be a return of capital. There may be a return of capital, for example, when some or all of the money you invested in the fund is paid back to you. Return of Capital Distribution does not necessarily reflect the fund’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions stated in this notice are estimates only, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of amounts for accounting and tax reporting purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to change based on tax regulations. The amounts and sources of distribution may be subject to additional adjustments from year to year.

,The fund will send you a Form 1099-DIV for the calendar year that tells you how to report these distributions for federal income tax purposes.

Year-to-Date Cumulative Total Return of the Fund for FY2023 (January 1, 2023 By February 28, 2023) is given below. Shareholders should pay attention to the relationship between the year-to-date cumulative total return with the fund’s cumulative distribution rate for 2023. In addition, the fund’s average annual return over a five-year period is capped. February 28, 2023 is given below. Shareholders should pay attention to the relationship between the average annual total return for 2023 with the fund’s current annual distribution rate. The performance and distribution rate information disclosed in the table is based on the fund’s net asset value per share (NAV). A fund’s NAV is calculated by dividing the total liabilities minus the total market value of all securities and other assets held by the fund by the total number of shares outstanding. While NAV performance can be an indication of a fund’s investment performance, it does not measure the value of a shareholder’s individual investment in the fund. The value of a shareholder’s investment in the fund is determined by the fund’s market value, which is based on supply and demand for the fund’s shares in the open market.

Fund performance and distribution rate information,

Year-to-date January 1, 2023 to February 28, 2023

Year-to-date Cumulative Total Return1


cumulative delivery rate2


Five year term ending February 28, 2023

Average Annual Total Return3


current annual distribution rate4



The year-to-date cumulative total return is the percentage change in the NAV of the fund assuming distributions paid and reinvestment of those distributions over the year-to-date time period.


The cumulative distribution rate for the Fund’s current fiscal period (January 1, 2023 through March 31, 2023) is measured as a percentage of the Fund’s NAV on the dollar value of distributions over the year-to-date period
February 28, 2023.


The Average Annual Total Return represents the compound average of the fund’s annualized NAV total return for the five-year period ending February 28, 2023. Annualized NAV Total Return is the percentage change in the NAV of the fund in one year, including distributions paid and reinvestments. of those distributions.


The Current Annualized Distribution Rate is the distribution rate for the current financial period annualized as a percentage of the Fund’s NAV up to February 28, 2023.

Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. You may obtain the Fund’s most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or by visiting These reports and other filings can be found on the Securities and Exchange Commission’s EDGAR database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information contained herein in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year that indicates how to report fund distributions for federal income tax purposes.

Sign: CNS

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real estate and alternative income, including real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Established in 1986, the firm’s headquarters is at New York Citywith offices London, Dublin, hong kongAnd Tokyo,

forward-looking statements
This press release and other statements that Cohen & Steers may make may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company’s current views are, among other things, its operating and financial performance. You may refer to these forward-looking statements by the use of words such as “outlook,” “believe,” “expect,” “potential,” “continue,” “may,” “will,” “should,” “will,” can identify. “approximately,” “predicts,” “intends,” “plans,” “estimates,” “estimates,” or negative versions of these words or other comparable words. Such forward-looking statements may refer to various are subject to risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual results or outcomes to differ materially from those reflected in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

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SOURCE Cohen & Steers, Inc.

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