NEW YORK, Dec. 10, 2013 /PRNewswire/ -- The boards of directors of Cohen & Steers Dividend Majors Fund, Inc. ("DVM") and Cohen & Steers Total Return Realty Fund, Inc. ("RFI") have approved the reorganization and merger of DVM into RFI, pursuant to which RFI would continue as the surviving fund (the "Reorganization").
In approving the Reorganization, the directors considered, among other things, each fund's investment objectives, net asset value and stock price performance, income potential and potential operating expense savings based on operational efficiencies. The Reorganization will permit fund shareholders to pursue substantially similar investment objectives in a larger fund that has a focused investment strategy with similar investment policies and anticipated lower expenses.
Shareholders will be asked to vote on the Reorganization at a special meeting expected to be held on April 24, 2014. The Reorganization, if approved, is expected to occur in the second quarter of 2014, subject to the required approval of shareholders of both funds. More information will be contained in the proxy materials to be filed with the Securities and Exchange Commission ("SEC") and mailed to each fund's shareholders.
Additional Information About the Proposed Reorganization and Where to Find ItThis press release is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the funds; nor is this press release intended to solicit a proxy from any shareholder of any of the funds. The solicitation of the purchase or sale of securities or of proxies to effect the reorganization may only be made by a final, effective Registration Statement, which will include a definitive Combined Proxy Statement/Prospectus, after the Registration Statement is declared effective by the SEC.This Registration Statement has yet to be filed with the SEC. Once it is, it may be amended or withdrawn and the Combined Proxy Statement/Prospectus will not be distributed to shareholders of the funds unless and until the Registration Statement is declared effective by the SEC.