DENVER, Aug. 30,
2024 /PRNewswire/ -- The Principal Real Estate Income
Fund (NYSE:PGZ) announces the sources of a distribution paid on
August 30, 2024 of $0.1050 per share to shareholders of record at
the close of business on August 16,
2024, pursuant to the Fund's managed distribution plan. This
press release is issued as required by an exemptive order granted
to the Fund by the U.S. Securities and Exchange Commission and
includes the notice below sent to shareholders regarding the source
of the distribution.
Statement Pursuant to Section 19(a) of the
Investment Company Act of 1940
The following table sets forth the estimated amount of the
sources of distribution for purposes of Section 19 of the
Investment Company Act of 1940, as amended, and the related rules
adopted thereunder. In accordance with generally accepted
accounting principles ("GAAP"), the Fund estimates the following
percentages, of the total distribution amount per share,
attributable to (i) current and prior fiscal year net investment
income, (ii) net realized short-term capital gain, (iii) net
realized long-term capital gain and (iv) return of capital or
other capital source as a percentage of the total distribution
amount. These percentages are disclosed for the current
distribution as well as the fiscal year-to-date cumulative
distribution amount per share for the Fund.
|
Current Distribution
from:
|
|
|
|
Per Share
($)
|
%
|
|
Net Investment
Income
|
0.0357
|
34.00 %
|
|
Net Realized Short-Term
Capital Gain
|
0.0000
|
0.00 %
|
|
Net Realized Long-Term
Capital Gain
|
0.0000
|
0.00 %
|
|
Return of Capital or
other Capital Source
|
0.0693
|
66.00 %
|
|
Total (per common
share)
|
0.1050
|
100.00 %
|
|
|
|
|
Fiscal Year-to-Date
Cumulative
|
|
|
|
Distributions
from:
|
|
|
|
Per Share
($)
|
%
|
|
Net Investment
Income
|
0.4848
|
46.17 %
|
|
Net Realized Short-Term
Capital Gain
|
0.0000
|
0.00 %
|
|
Net Realized Long-Term
Capital Gain
|
0.0000
|
0.00 %
|
|
Return of Capital or
other Capital Source
|
0.5652
|
53.83 %
|
|
Total (per common
share)
|
1.0500
|
100.00 %
|
The Fund estimates that it has distributed more than its income;
therefore, a portion of your distribution may be a return of
capital. A return of capital may occur, for example, when some or
all of the money that you invested in the Fund is paid back to you.
A return of capital distribution does not necessarily reflect the
Fund's investment performance and should not be confused with
'yield' or 'income'.
The timing and character of distributions for federal income tax
purposes are determined in accordance with income tax regulations,
which may differ from GAAP. As such, all or a portion of this
distribution may be reportable as taxable income on your 2024
federal income tax return. The final tax character of any
distribution declared in 2024 will be determined in January 2025 and reported to you on IRS Form
1099-DIV.
The amounts and sources of distributions reported in this
19(a) Notice are only estimates and not for tax reporting purposes.
The actual amounts and sources of the amounts for 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 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.
Presented below are return figures, based on the change in the
Fund's Net Asset Value per share ("NAV"), compared to the
annualized distribution rate for this current distribution as a
percentage of the NAV on the last day of the month prior to
distribution record date.
|
Fund Performance
& Distribution Information
|
|
Fiscal YTD (11/1/23 –
7/31/24)
|
|
Annualized Distribution
Rate as % of NAV^
|
10.86 %
|
|
Cumulative Distribution
Rate on NAV^
|
9.05 %
|
|
Cumulative Total Return
on NAV*
|
29.74 %
|
|
Average Annual Total
Return on NAV for the 5 Year Period Ended 7/31/2024**
|
-2.67 %
|
|
^ Based on the
Fund's NAV as of July 31, 2024.
|
|
*Cumulative fiscal
year-to-date return is based on the change in NAV including
distributions paid and assuming reinvestment of these distributions
for the period November 1, 2023 through July 31,
2024.
|
|
**The 5 year average
annual total return is based on change in NAV including
distributions paid and assuming reinvestment of these distributions
and is through the last business day of the month prior to the
month of the current distribution record date.
|
While the NAV performance may be indicative of the Fund's
investment performance, it does not measure the value of a
shareholder's 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. Past performance does not guarantee future
results. Shareholders 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 Plan.
Furthermore, the Board of Trustees reviews the amount of any
potential distribution and the income, capital gain or capital
available. The Board of Trustees will continue to monitor the
Fund's distribution level, taking into consideration the Fund's net
asset value and the financial market environment. The Fund's
distribution policy is subject to modification by the Board of
Trustees at any time. The distribution rate should not be
considered the dividend yield or total return on an investment in
the Fund.
Please retain this document for your records.
ALPS Advisors, Inc. is the investment adviser to the
Fund.
Principal Real Estate Investors LLC is the investment
sub-adviser to the Fund. Principal Real Estate Investors LLC is not
affiliated with ALPS Advisors, Inc. or any of its
affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA
Member.
PRE000423 8/31/2025
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SOURCE Principal Real Estate Income Fund