NEW YORK, Nov. 30, 2021 /PRNewswire/ -- Neuberger Berman
MLP and Energy Income Fund Inc. (NYSE American: NML) (the "Fund")
has announced a distribution declaration of $0.0163 per share of common stock. The
distribution announced today is payable on December 31, 2021, has a record date of
December 15, 2021 and has an ex-date
of December 14, 2021.
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Due to changes that may continue to occur in the master limited
partnership ("MLP") and energy markets, as well as the impact that
these changes may have on closed-end funds that invest in MLPs, the
Fund will continue to evaluate the stability and appropriateness of
its distribution rate in the months ahead. The Fund currently
intends to make regular monthly cash distributions to holders of
its common stock at a fixed rate per share, to be determined based
on the projected net rate of return of the Fund's investments as
well as other factors, subject to ongoing review and adjustment
from time to time. The Fund currently intends to pay its
regular monthly distributions out of its distributable cash flow,
which generally consists of (1) cash and paid-in-kind distributions
from MLPs or their affiliates, dividends from common stocks,
interest from debt instruments and income from other investments
held by the Fund less (2) current or accrued operating expenses,
including leverage costs, if any, and taxes on its taxable
income.
The Fund expects that a portion of its distributions to
stockholders will constitute a non-taxable return of capital. A
"return of capital" is a distribution by the Fund which represents
a return of a common stockholder's original investment, and should
not be confused with a dividend. To the extent the Fund pays
a return of capital, a common stockholder's basis in Fund
shares will be reduced, which will increase a capital gain or
reduce a capital loss upon sale of those shares. There is no
assurance that the Fund will always be able to pay a distribution
of any particular amount, or that a distribution will consist
solely of the Fund's current and accumulated earnings and
profits.
In compliance with Section 19 of the Investment Company Act of
1940, as amended, a notice would be provided for any distribution
that 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, estimated
portions of the distribution, if any, consisting of net investment
income, capital gains and return of capital. The final
determination of the source and tax characteristics of all
distributions paid in 2021 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 taxes paid by the Fund will
reduce the amount available to pay distributions to stockholders,
and therefore investors in the Fund will likely receive lower
distributions than if they invested directly in MLPs.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 25 countries, Neuberger Berman's diverse team has
over 2,400 professionals. For seven consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $437
billion in client assets as of September 30, 2021. For more information, please
visit our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
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