Dec 07, 2010
In compliance with Section 19 of the Investment Company Act of 1940, a notice will be provided for any distribution that does not consist solely of net investment income. Such a notice will be for informational purposes only, and will disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. No such notice will be included with the distribution announced today for RIF because, based upon information currently available to RIF, RIF believes this distribution consists solely of income received from its investments. Because RIF has substantial investments in real estate investment trusts, or REITs, which generally will classify distributions to RIF subsequent to the end of a calendar year as ordinary income, net capital gain or return of capital, it is expected that distributions declared by RIF will be similarly characterized for tax purposes subsequent to year end.
A Section 19 notice is expected to be included with the distribution
announced today for RAP. RAP generally invests in exchange listed or
traded equity securities of
Shareholders of RIF and RAP should not use the information provided in this press release or any notice delivered in compliance with Section 19 of the Investment Company Act of 1940 in preparing their tax returns. Shareholders of RIF and RAP will receive a Form 1099-DIV for the calendar year indicating how to report distributions from RIF and RAP for Federal income tax purposes.
RIF and RAP are closed end investment companies advised by
WARNINGS REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON RIF'S AND RAF'S PRESENT BELIEFS AND EXPECTATIONS, BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR NUMEROUS REASONS, SOME OF WHICH ARE BEYOND RIF'S AND RAP'S CONTROL. FOR EXAMPLE:
-
THIS PRESS RELEASE DESCRIBES RIF'S DISTRIBUTION OF
$0.42 PER SHARE AS A REGULAR QUARTERLY DISTRIBUTION AND REFERS TO RIF'S LEVEL RATE DIVIDEND POLICY. THE IMPLICATIONS OF THESE STATEMENTS MAY BE THAT RIF WILL CONSISTENTLY PAY A DIVIDEND OF$0.42 PER SHARE FOR EACH QUARTER. IN FACT, THE AMOUNT OF DIVIDENDS PAID BYRIF IN THE FUTURE WILL DEPEND PRIMARILY UPON RIF'S FUTURE EARNINGS. IN THE PAST, THE PREDECESSOR FUNDS WHICH WERE REORGANIZED TO CREATE RIF HAVE LOWERED THEIR DIVIDEND RATES AND RIF CAN PROVIDE NO ASSURANCE THAT ITS FUTURE EARNINGS WILL BE SUFFICIENT TO ENABLE RIF TO PAY A REGULAR QUARTERLY DIVIDEND OF$0.42 PER SHARE. - THIS PRESS RELEASE STATES THAT RIF BELIEVES THE DISTRIBUTION DESCRIBED IN THIS PRESS RELEASE CONSISTS SOLELY OF INCOME RECEIVED FROM ITS INVESTMENTS. AS NOTED IN THE PRESS RELEASE, THE DIVIDENDS WHICH RIF HAS RECEIVED FROM ITS INVESTMENTS IN REITS MAY BE CHARACTERIZED BY THOSE REITS DIFFERENTLY THAN RIF NOW EXPECTS. FOR THIS REASON, AMONG OTHERS, SOME OF THE DISTRIBUTION DESCRIBED IN THIS PRESS RELEASE MAY CONSIST OF CAPITAL GAINS OR RETURN OF CAPITAL.
- THIS PRESS RELEASE STATES THAT RAP BELIEVES THAT A PORTION OF THE DISTRIBUTION DESCRIBED IN THIS PRESS RELEASE REPRESENTS A RETURN OF CAPITAL FOR FINANCIAL REPORTING PURPOSES. AS NOTED IN THE PRESS RELEASE, RAP IS NOT ABLE TO DETERMINE THE ACTUAL CHARACTERIZATION OF THIS DISTRIBUTION UNTIL THE END OF THE CALENARD YEAR. FOR THIS REASON, AMONG OTHERS, MORE OR LESS OF THE DISTRIBUTION DESCRIBED IN THIS PRESS RELEASE MAY REPRESENT A RETURN OF CAPITAL FOR FINANCIAL REPORTING PURPOSES.
FOR THESE AND OTHER REASONS, INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
RMR Funds
Vice President,
Investor Relations
or
Manager,
Investor Relations
www.rmrfunds.com
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