NEW YORK, Dec. 1, 2015 /PRNewswire/ -- Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (NYSE: MIE) (the "Fund") announced the completion of the previously disclosed change in the Fund's tax status from a regulated investment company to a taxable C-Corporation under the Internal Revenue Code. The change in tax status enables the Fund to invest up to 100% of its assets in Master Limited Partnerships ("MLPs") and to continue to pursue its investment objective of attractive total return, comprised of high current income and price appreciation. The change was in response to the adoption of previously proposed regulations issued by the Internal Revenue Service.
As a registered investment company taxed as a C-Corporation, the Fund's income and gains will be taxed under Federal (currently at a maximum rate of 35%) and state income tax laws. In addition, distributions to shareholders from the Fund may also be taxed as ordinary income eligible for qualified dividend income treatment for U.S. individual taxpayers. The change in tax status resulted in no impact to the Fund's NAV on December 1, 2015. In connection with the change in tax status, all of the assets and liabilities of the Fund's subsidiary were transferred to the Fund in a tax-free transaction. Additionally, the Fund's subsidiary will be dissolved on a future date.
More information is available at cohenandsteers.com.
Symbol: NYSE: CNS, MIE
About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City with offices in London, Hong Kong, Tokyo and Seattle.
SOURCE Cohen & Steers, Inc.