SHERIDAN, WYOMING -- August 28, 2026 -- Cohen & Steers Closed-End Opportunity Fund, Inc. (NYSE: FOF) will pay shareholders a monthly distribution of $0.0870 per common share on August 31, 2026, funded entirely by net investment income and realized capital gains, according to a Section 19(a) notice the company issued August 28. None of the payout came from return of capital, the notice showed. The disclosure covers the fund's fiscal year-to-date distributions through August 31, which total $0.6960 per share.
The August payment breaks down as $0.0342 per share, or 39.31%, from net investment income and $0.0528 per share, or 60.69%, from net realized long-term capital gains. No portion came from short-term gains or return of capital. Year-to-date, net investment income accounts for $0.2481 per share (35.65% of total distributions) while long-term gains make up $0.4479 per share (64.35%), with return of capital again at zero.
Fund's Total Return Outpaces Its Payout Rate Through July
FOF posted a year-to-date cumulative total return of 6.68% on net asset value for the period January 1 through July 31, 2026, compared with a cumulative distribution rate of 5.17% over the same stretch. Over the five years ending July 31, 2026, the fund's average annual total return reached 8.08%, versus a current annualized distribution rate of 7.75%. In both the short- and long-term windows, NAV total returns have run ahead of the amounts paid out to shareholders, a gap that has kept the fund from tapping capital for its distributions this year.
Managed Distribution Policy Dates to December 2021
FOF adopted its managed distribution policy in December 2021 under exemptive relief from the Securities and Exchange Commission, fixing a set monthly per-share rate rather than varying payouts with quarterly income swings. The structure lets the fund spread realized long-term capital gains across twelve monthly payments instead of concentrating them in a single year-end distribution. Cohen & Steers' board retains authority to amend, suspend or terminate the policy at any time, and the company warned that such a move could affect the fund's share price.
Final Tax Treatment Awaits Form 1099-DIV
Cohen & Steers cautioned that the source breakdown in the notice is an estimate subject to revision once the fund closes its 2026 fiscal year. Shareholders will receive a Form 1099-DIV after year-end specifying how to report the distributions for federal tax purposes, and the company advised against using the August notice for tax filing. The firm said updated distribution details are posted to its website and mailed to shareholders alongside each monthly notice.
Cohen & Steers, Inc. (NYSE: CNS) manages the closed-end fund and specializes in real assets and alternative income strategies, including listed and private real estate, preferred securities, infrastructure and resource equities. The firm is headquartered in New York with additional offices in London, Dublin, Hong Kong, Tokyo and Singapore.