Market Overview

Cohen & Steers Quality Income Realty Fund, Inc. (RQI) Declares its Fourth Quarter Distribution and Announces the Implementation of a Managed Distribution Policy

NEW YORK, Dec. 11, 2012 /PRNewswire/ -- The Board of Directors of Cohen & Steers Quality Income Realty Fund, Inc. (NYSE: RQI) (the "Fund") declared its fourth quarter 2012 distribution as summarized in the chart below: 

Amount of
Distribution

Ex-Dividend
Date

Record
Date

Payable
Date

$0.1800

December 19, 2012

December 21, 2012

December 31, 2012

The Fund's Board of Directors announced that the Fund will be implementing a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. This policy will give the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular quarterly basis to shareholders. 

The Fund's quarterly 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 includes 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. Under federal tax regulations, some or all of the return of capital distributed by a fund may be taxed as ordinary income. In addition, distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported after year-end by REITs held by the Fund.  The amount of quarterly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each quarterly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice.  However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year.  Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

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

DISTRIBUTION ESTIMATES

December 2012

YEAR-TO-DATE (YTD)

December 31, 2012*

Source

Per Share Amount

% of Current Distribution

Per Share Amount

% of 2012 Distributions

Net Investment Income

$0.0579

32.17%

$0.2009

27.90%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.1221

67.83%

$0.5191

72.10%

Return of Capital (or other Capital Source)

$0.0000

0.00%

$0.0000

0.00%

Total Current Distribution

$0.1800

100.00%

$0.7200

100.00%

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy.  The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.  The amounts and sources of distributions year-to-date may be subject to additional adjustments.  

*THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.

The Fund's cumulative year-to-date total return for fiscal year 2012 (January 1, 2012 through November 30, 2012) is set forth below. Shareholders should note the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2012. Moreover, the Fund's Average Annual Total Return for the five year period ending November 30, 2012 is set forth below. Shareholders should also note the relationship between the Average Annual Total Return with the Fund's current annualized distribution rate for 2012. In addition, the performance and distribution rate information disclosed in the table below is based on the Fund's NAV. The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the 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 price, which is based on the supply and demand for the Fund's shares in the open market.

Fund Performance and Distribution Rate Information:

Year-to-date January 1, 2012 to November 30, 2012

Year-to-date Cumulative Total Return1

17.90%

Cumulative Distribution Rate2

6.79%


Five year period ending November 30, 2012

Average Annual Total Return3

0.91%

Current Annualized Distribution Rate4

6.79%

 

1.

Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.

2.

Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2012 through December 31, 2012) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of November 30, 2012.

3.

Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five year period ending November 30, 2012. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.

4.

The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of November 30, 2012.

 

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

More information is available at cohenandsteers.com.

Symbol: NYSE: CNS

About Cohen & Steers. Founded in 1986, Cohen & Steers is a leading global investment manager focused on global real estate securities, global listed infrastructure, real assets, large cap value stocks and preferred securities. The company also manages alternative investment strategies for qualified investors such as hedged real estate securities portfolios and private real estate strategies. Headquartered in New York City, with offices in London, Brussels, Hong Kong, Tokyo and Seattle, Cohen & Steers serves institutional and individual investors around the world.

SOURCE Cohen & Steers Quality Income Realty Fund, Inc.

 

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