RMR Real Estate Income Fund (NYSE Amex: RIF) today announced its regular quarterly distribution to common shareholders. The distribution of $0.21 per common share will be paid on or about March 30, 2012 to holders of record of common shares as of the close of business on March 19, 2012. This distribution represents the equivalent of a $0.02 per share per quarter increase to the quarterly distribution rate, and an $0.08 per share increase in the distribution rate on an annualized basis, of Old RMR Real Estate Income Fund (“Old RIF”) prior to the merger of Old RIF into RIF on January 20, 2012. The RIF Board of Trustees has determined to pay a full quarterly distribution for this first post merger distribution despite the merger having occurred during the period to which the distribution relates.
RIF declared this quarterly distribution pursuant to its level rate dividend policy. There is no assurance that RIF will always be able to pay a distribution of any particular size, or that a distribution will consist only of net investment income. RIF’s ability to maintain a level distribution will depend on a number of factors, including the stability of income received from its investments, availability of capital gains, distributions paid on its preferred shares and the level of RIF’s expenses. In order to maintain a stable distribution amount, the distributions announced today, as well as future distributions, may consist of net investment income, realized capital gains and return of capital.
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 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 characterize distributions to their shareholders, including 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 attributable to its investments in REITs will be similarly characterized for tax purposes subsequent to year end. Shareholders 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 will receive a Form 1099-DIV for the calendar year indicating how to report distributions from RIF for U.S. Federal income tax purposes.
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