Notification of Sources of Distribution
Pursuant to Section 19(a) of the Investment Company Act of 1940
Cohen & Steers Total Return Realty Fund, Inc. (RFI)
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”), acting in accordance with an exemptive order received from the
Securities and Exchange Commission and with approval of its Board of Directors, adopted a managed distribution policy under which the Fund intends to include long-term capital gains, where applicable, as part of the regular monthly cash
distributions to its shareholders. This policy will give the Fund greater flexibility to realize long-term capital gains and to distribute those gains on a regular monthly basis.
The Board of Directors of the Fund declared a monthly distribution per share for the month of January 2026. Please review the following information and
important disclosures set forth below.
|
|
|
|
|
| Amount of Distribution |
|
Ex-Dividend/ Record Date |
|
Payable Date |
| $0.0800 |
|
January 13, 2026 |
|
January 30, 2026 |
The following table sets forth the estimated amounts of the current distribution and the cumulative
distributions paid this fiscal year-to-date from the sources indicated in the table. All amounts are expressed per common share.
|
|
|
|
|
|
|
|
|
| DISTRIBUTION ESTIMATES |
|
January 2026 |
|
YEAR-TO-DATE (YTD)
January 31, 2026* |
| Source |
|
Per Share
Amount |
|
% of Current
Distribution |
|
Per Share
Amount |
|
% of 2026
Distributions |
| Net Investment
Income |
|
$0.0067 |
|
8.38% |
|
$0.0067 |
|
8.38% |
| Net Realized Short-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
| Net Realized Long-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
|
Return of Capital (or other Capital Source) |
|
$0.0733 |
|
91.62% |
|
$0.0733 |
|
91.62% |
|
Total Current Distribution |
|
$0.0800 |
|
100.00% |
|
$0.0800 |
|
100.00% |
You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the
terms of the Fund’s managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or
‘income’. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for
accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.
*THE FUND WILL
SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
The Fund’s Year-to-date Cumulative Total Return for fiscal year 2025 (January 1, 2025 through December 31,
2025) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund’s Cumulative
Distribution Rate for 2025. In addition, the Fund’s Average Annual Total Return for the five-year period ending December 31, 2025 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with
the Fund’s Current Annualized Distribution Rate for 2025. The performance and distribution rate information disclosed in the table is based on the Fund’s net asset value per share (NAV). The Fund’s NAV is calculated as the total
market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund’s investment performance, it does not
measure the value of a shareholder’s individual investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply and demand for the Fund’s
shares in the open market.
1166 Avenue of the Americas, New York,
NY 10036-2708 Tel: 212.832.3232 Fax: 212-832-3622
Fund Performance and Distribution Rate Information:
|
|
|
|
|
|
Year-to-date January 1, 2025 to
December 31, 2025 |
|
|
|
|
| Year-to-date Cumulative Total Return1 |
|
|
3.59% |
|
| Cumulative
Distribution Rate2 |
|
|
0.72% |
|
| Five-year period
ending December 31, 2025 |
|
|
|
|
|
Average Annual Total Return3 |
|
|
5.15% |
|
| Current Annualized
Distribution Rate4 |
|
|
8.66% |
|
| |
1. |
Year-to-date Cumulative Total
Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
|
| |
2. |
Cumulative Distribution Rate for the Fund’s current fiscal period (January 1, 2026 through
January 31, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of December 31, 2025.
|
| |
3. |
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the
five-year period ending December 31, 2025. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions. |
| |
4. |
The Current Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a
percentage of the Fund’s NAV as of December 31, 2025. |
Investors should consider the investment objectives, risks, charges and
expense of the Fund carefully before investing. You can obtain the Fund’s most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other
filings can be found on the Securities and Exchange Commission’s EDGAR Database. You should read these reports and other filings carefully before investing.
Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form
1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.
Notification of Sources of Distribution
Pursuant to Section 19(a) of the Investment Company Act of 1940
Cohen & Steers Total Return Realty Fund, Inc. (RFI)
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”), acting in accordance with an exemptive order received from the
Securities and Exchange Commission and with approval of its Board of Directors, adopted a managed distribution policy under which the Fund intends to include long-term capital gains, where applicable, as part of the regular monthly cash
distributions to its shareholders. This policy will give the Fund greater flexibility to realize long-term capital gains and to distribute those gains on a regular monthly basis.
The Board of Directors of the Fund declared a monthly distribution per share for the month of February 2026. Please review the following information and
important disclosures set forth below.
|
|
|
|
|
| Amount of Distribution |
|
Ex-Dividend/ Record Date |
|
Payable Date |
| $0.0800 |
|
February 10, 2026 |
|
February 27, 2026 |
The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this
fiscal year-to-date from the sources indicated in the table. All amounts are expressed per common share.
|
|
|
|
|
|
|
|
|
| DISTRIBUTION ESTIMATES |
|
February 2026 |
|
YEAR-TO-DATE (YTD)
February 28, 2026* |
| Source |
|
Per Share
Amount |
|
% of Current
Distribution |
|
Per Share
Amount |
|
% of 2026
Distributions |
| Net Investment
Income |
|
$0.0090 |
|
11.25% |
|
$0.0150 |
|
9.38% |
| Net Realized Short-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
| Net Realized Long-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
|
Return of Capital (or other Capital Source) |
|
$0.0710 |
|
88.75% |
|
$0.1450 |
|
90.62% |
|
Total Current Distribution |
|
$0.0800 |
|
100.00% |
|
$0.1600 |
|
100.00% |
You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the
terms of the Fund’s managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or
‘income’. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for
accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.
*THE FUND WILL
SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
The Fund’s Year-to-date Cumulative Total Return for fiscal year 2026
(January 1, 2026 through January 31, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return
with the Fund’s Cumulative Distribution Rate for 2026. In addition, the Fund’s Average Annual Total Return for the five-year period ending January 31, 2026 is set forth below. Shareholders should note the relationship between the
Average Annual Total Return with the Fund’s Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund’s net asset value per share (NAV). The Fund’s
NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund’s
investment performance, it does not measure the value of a shareholder’s individual investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply
and demand for the Fund’s shares in the open market.
1166 Avenue of the Americas, New York, NY 10036-2708 Tel: 212.832.3232 Fax:
212-832-3622
Fund Performance and Distribution Rate Information:
|
|
|
|
|
|
Year-to-date January 1, 2026 to
January 31, 2026 |
|
|
|
|
| Year-to-date Cumulative Total Return1 |
|
|
2.08% |
|
| Cumulative
Distribution Rate2 |
|
|
1.42% |
|
| |
|
|
|
|
|
Five-year period ending January 31, 2026 |
|
|
|
|
| Average Annual
Total Return3 |
|
|
5.80% |
|
| Current Annualized
Distribution Rate4 |
|
|
8.54% |
|
| |
1. |
Year-to-date Cumulative Total
Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
|
| |
2. |
Cumulative Distribution Rate for the Fund’s current fiscal period (January 1, 2026 through
February 28, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of January 31, 2026.
|
| |
3. |
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the
five-year period ending January 31, 2026. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions. |
| |
4. |
The Current Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a
percentage of the Fund’s NAV as of January 31, 2026. |
Investors should consider the investment objectives, risks, charges and
expense of the Fund carefully before investing. You can obtain the Fund’s most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other
filings can be found on the Securities and Exchange Commission’s EDGAR Database. You should read these reports and other filings carefully before investing.
Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form
1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.
Notification of Sources of
Distribution
Pursuant to Section 19(a) of the Investment Company Act of 1940
Cohen & Steers Total Return Realty Fund, Inc. (RFI)
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”), acting in accordance with an exemptive order received from the
Securities and Exchange Commission and with approval of its Board of Directors, adopted a managed distribution policy under which the Fund intends to include long-term capital gains, where applicable, as part of the regular monthly cash
distributions to its shareholders. This policy will give the Fund greater flexibility to realize long-term capital gains and to distribute those gains on a regular monthly basis.
The Board of Directors of the Fund declared a monthly distribution per share for the month of March 2026. Please review the following information and important
disclosures set forth below.
|
|
|
|
|
| Amount of Distribution |
|
Ex-Dividend/ Record Date |
|
Payable Date |
| $0.0800 |
|
March 10, 2026 |
|
March 31, 2026 |
The following table sets forth the estimated amounts of the current distribution and the cumulative
distributions paid this fiscal year-to-date from the sources indicated in the table. All amounts are expressed per common share.
|
|
|
|
|
|
|
|
|
| DISTRIBUTION ESTIMATES |
|
March 2026 |
|
YEAR-TO-DATE (YTD)
March 31, 2026* |
| Source |
|
Per Share
Amount |
|
% of Current
Distribution |
|
Per Share
Amount |
|
% of 2026
Distributions |
| Net Investment
Income |
|
$0.0525 |
|
65.63% |
|
$0.0678 |
|
28.25% |
| Net Realized Short-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
| Net Realized Long-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
|
Return of Capital (or other Capital Source) |
|
$0.0275 |
|
34.37% |
|
$0.1722 |
|
71.75% |
|
Total Current Distribution |
|
$0.0800 |
|
100.00% |
|
$0.2400 |
|
100.00% |
You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the
terms of the Fund’s managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or
‘income’. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for
accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.
*THE FUND WILL
SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
The Fund’s Year-to-date Cumulative Total Return for fiscal year 2026
(January 1, 2026 through February 28, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return
with the Fund’s Cumulative Distribution Rate for 2026. In addition, the Fund’s Average Annual Total Return for the five-year period ending February 28, 2026 is set forth below. Shareholders should note the relationship between the
Average Annual Total Return with the Fund’s Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund’s net asset value per share (NAV). The Fund’s
NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund’s
investment performance, it does not measure the value of a shareholder’s individual investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply
and demand for the Fund’s shares in the open market.
1166 Avenue of the Americas, New York, NY 10036-2708 Tel: 212.832.3232 Fax: 212-832-3622
Fund Performance and Distribution Rate Information:
|
|
|
|
|
|
Year-to-date January 1, 2026 to
February 28, 2026 |
|
|
|
|
| Year-to-date Cumulative Total Return1 |
|
|
7.89% |
|
| Cumulative
Distribution Rate2 |
|
|
2.03% |
|
| Five-year period
ending February 28, 2026 |
|
|
|
|
|
Average Annual Total Return3 |
|
|
6.34% |
|
| Current Annualized
Distribution Rate4 |
|
|
8.14% |
|
| |
1. |
Year-to-date Cumulative Total
Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
|
| |
2. |
Cumulative Distribution Rate for the Fund’s current fiscal period (January 1, 2026 through
March 31, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of February 28, 2026.
|
| |
3. |
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the
five-year period ending February 28, 2026. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions. |
| |
4. |
The Current Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a
percentage of the Fund’s NAV as of February 28, 2026. |
Investors should consider the investment objectives,
risks, charges and expense of the Fund carefully before investing. You can obtain the Fund’s most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These
reports and other filings can be found on the Securities and Exchange Commission’s EDGAR Database. You should read these reports and other filings carefully before investing.
Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.
Notification of Sources of Distribution
Pursuant to Section 19(a) of the Investment Company Act of 1940
Cohen & Steers Total Return Realty Fund, Inc. (RFI)
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”), acting in accordance with an exemptive order received from the
Securities and Exchange Commission and with approval of its Board of Directors, adopted a managed distribution policy under which the Fund intends to include long-term capital gains, where applicable, as part of the regular monthly cash
distributions to its shareholders. This policy will give the Fund greater flexibility to realize long-term capital gains and to distribute those gains on a regular monthly basis.
The Board of Directors of the Fund declared a monthly distribution per share for the month of April 2026. Please review the following information and
important disclosures set forth below.
|
|
|
|
|
| Amount of Distribution |
|
Ex-Dividend/ Record Date |
|
Payable Date |
| $0.0800 |
|
April 14, 2026 |
|
April 30, 2026 |
The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this
fiscal year-to-date from the sources indicated in the table. All amounts are expressed per common share.
|
|
|
|
|
|
|
|
|
| DISTRIBUTION ESTIMATES |
|
April 2026 |
|
YEAR-TO-DATE (YTD)
April 30, 2026* |
| Source |
|
Per Share
Amount |
|
% of Current
Distribution |
|
Per Share
Amount |
|
% of 2026
Distributions |
| Net Investment
Income |
|
$0.0138 |
|
17.25% |
|
$0.0816 |
|
25.50% |
| Net Realized Short-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
| Net Realized Long-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
|
Return of Capital (or other Capital Source) |
|
$0.0662 |
|
82.75% |
|
$0.2384 |
|
74.50% |
|
Total Current Distribution |
|
$0.0800 |
|
100.00% |
|
$0.3200 |
|
100.00% |
You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the
terms of the Fund’s managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or
‘income’. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for
accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.
*THE FUND WILL
SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
The Fund’s Year-to-date Cumulative Total Return for fiscal year 2026
(January 1, 2026 through March 31, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with
the Fund’s Cumulative Distribution Rate for 2026. In addition, the Fund’s Average Annual Total Return for the five-year period ending March 31, 2026 is set forth below. Shareholders should note the relationship between the Average
Annual Total Return with the Fund’s Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund’s net asset value per share (NAV). The Fund’s NAV is
calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund’s investment
performance, it does not measure the value of a shareholder’s individual investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply and demand
for the Fund’s shares in the open market.
1166 Avenue of the Americas, New York, NY 10036-2708 Tel: 212.832.3232 Fax: 212-832-3622
Fund Performance and Distribution Rate Information:
|
|
|
|
|
|
Year-to-date January 1, 2026 to
March 31, 2026 |
|
|
|
|
| Year-to-date Cumulative Total Return1 |
|
|
2.28% |
|
| Cumulative
Distribution Rate2 |
|
|
2.88% |
|
| |
|
|
|
|
|
Five-year period ending March 31, 2026 |
|
|
|
|
| Average Annual
Total Return3 |
|
|
4.22% |
|
| Current Annualized
Distribution Rate4 |
|
|
8.64% |
|
| |
1. |
Year-to-date Cumulative Total
Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
|
| |
2. |
Cumulative Distribution Rate for the Fund’s current fiscal period (January 1, 2026 through
April 30, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of March 31, 2026.
|
| |
3. |
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the
five-year period ending March 31, 2026. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions. |
| |
4. |
The Current Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a
percentage of the Fund’s NAV as of March 31, 2026. |
This Fund has a managed distribution policy that seeks to deliver the
Fund’s long term total return potential through regular monthly distributions declared at a fixed rate per share. Distributions may be paid in part or in full from net investment income, realized capital gains and by returning capital, or a
combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the
Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. The Board of Directors of the Fund may
amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund’s shares.
Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund’s most
recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission’s EDGAR Database.
You should read these reports and other filings carefully before investing.
Shareholders should not use the information provided here in preparing
their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.
Notification of Sources of
Distribution
Pursuant to Section 19(a) of the Investment Company Act of 1940
Cohen & Steers Total Return Realty Fund, Inc. (RFI)
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”), acting in accordance with an exemptive order received from the
Securities and Exchange Commission and with approval of its Board of Directors, adopted a managed distribution policy under which the Fund intends to include long-term capital gains, where applicable, as part of the regular monthly cash
distributions to its shareholders. This policy will give the Fund greater flexibility to realize long-term capital gains and to distribute those gains on a regular monthly basis.
The Board of Directors of the Fund declared a monthly distribution per share for the month of May 2026. Please review the following information and important
disclosures set forth below.
|
|
|
|
|
| Amount of Distribution |
|
Ex-Dividend/ Record Date |
|
Payable Date |
| $0.0800 |
|
May 12, 2026 |
|
May 29, 2026 |
The following table sets forth the estimated amounts of the current distribution and the cumulative
distributions paid this fiscal year-to-date from the sources indicated in the table. All amounts are expressed per common share.
|
|
|
|
|
|
|
|
|
| DISTRIBUTION ESTIMATES |
|
May 2026 |
|
YEAR-TO-DATE (YTD)
May 31, 2026* |
| Source |
|
Per Share
Amount |
|
% of Current
Distribution |
|
Per Share
Amount |
|
% of 2026
Distributions |
| Net Investment
Income |
|
$0.0282 |
|
35.25% |
|
$0.1098 |
|
27.45% |
| Net Realized
Short-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
| Net Realized
Long-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
|
Return of Capital (or other Capital Source) |
|
$0.0518 |
|
64.75% |
|
$0.2902 |
|
72.55% |
|
Total Current Distribution |
|
$0.0800 |
|
100.00% |
|
$0.4000 |
|
100.00% |
You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the
terms of the Fund’s managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or
‘income’. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for
accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.
*THE FUND WILL
SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
The Fund’s Year-to-date Cumulative Total Return for fiscal year 2026
(January 1, 2026 through April 30, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with
the Fund’s Cumulative Distribution Rate for 2026. In addition, the Fund’s Average Annual Total Return for the five-year period ending April 30, 2026 is set forth below. Shareholders should note the relationship between the Average
Annual Total Return with the Fund’s Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund’s net asset value per share (NAV). The Fund’s NAV is
calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund’s investment
performance, it does not measure the value of a shareholder’s individual investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply and demand
for the Fund’s shares in the open market.
1166 Avenue of the Americas, New York, NY 10036-2708 Tel: 212.832.3232 Fax: 212-832-3622
Fund Performance and Distribution Rate Information:
|
|
|
|
|
|
Year-to-date January 1, 2026 to
April 30, 2026 |
|
|
|
|
| Year-to-date Cumulative Total Return1 |
|
|
11.19% |
|
| Cumulative
Distribution Rate2 |
|
|
3.36% |
|
| |
|
|
|
|
|
Five-year period ending April 30, 2026 |
|
|
|
|
| Average Annual
Total Return3 |
|
|
4.39% |
|
| Current Annualized
Distribution Rate4 |
|
|
8.06% |
|
| |
1. |
Year-to-date Cumulative Total
Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
|
| |
2. |
Cumulative Distribution Rate for the Fund’s current fiscal period (January 1, 2026 through
May 31, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of April 30, 2026.
|
| |
3. |
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the
five-year period ending April 30, 2026. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions. |
| |
4. |
The Current Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a
percentage of the Fund’s NAV as of April 30, 2026. |
This Fund has a managed distribution policy that seeks to
deliver the Fund’s long term total return potential through regular monthly distributions declared at a fixed rate per share. Distributions may be paid in part or in full from net investment income, realized capital gains and by returning
capital, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from
the Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. The Board of Directors of the Fund may
amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund’s shares.
Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the
Fund’s most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange
Commission’s EDGAR Database. You should read these reports and other filings carefully before investing.
Shareholders should not
use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.
Notification of Sources of
Distribution
Pursuant to Section 19(a) of the Investment Company Act of 1940
Cohen & Steers Total Return Realty Fund, Inc. (RFI)
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”), acting in accordance with an exemptive order received from the
Securities and Exchange Commission and with approval of its Board of Directors, adopted a managed distribution policy under which the Fund intends to include long-term capital gains, where applicable, as part of the regular monthly cash
distributions to its shareholders. This policy will give the Fund greater flexibility to realize long-term capital gains and to distribute those gains on a regular monthly basis.
The Board of Directors of the Fund declared a monthly distribution per share for the month of June 2026. Please review the following information and important
disclosures set forth below.
|
|
|
|
|
| Amount of Distribution |
|
Ex-Dividend/Record Date |
|
Payable Date |
| $0.0800 |
|
June 9, 2026 |
|
June 30, 2026 |
The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this
fiscal year-to-date from the sources indicated in the table. All amounts are expressed per common share.
|
|
|
|
|
|
|
|
|
| DISTRIBUTION ESTIMATES |
|
June 2026 |
|
YEAR-TO-DATE (YTD)
June 30, 2026* |
| Source |
|
Per Share
Amount |
|
% of Current
Distribution |
|
Per Share
Amount |
|
% of 2026
Distributions |
| Net Investment
Income |
|
$0.0623 |
|
77.88% |
|
$0.1540 |
|
32.08% |
| Net Realized
Short-Term Capital Gains |
|
$0.0158 |
|
19.75% |
|
$0.0158 |
|
3.29% |
| Net Realized
Long-Term Capital Gains |
|
$0.0000 |
|
0.00% |
|
$0.0000 |
|
0.00% |
|
Return of Capital (or other Capital Source) |
|
$0.0019 |
|
2.37% |
|
$0.3102 |
|
64.63% |
|
Total Current Distribution |
|
$0.0800 |
|
100.00% |
|
$0.4800 |
|
100.00% |
You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the
terms of the Fund’s managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or
‘income’. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for
accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.
*THE FUND WILL
SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
The Fund’s Year-to-date Cumulative Total Return for fiscal year 2026
(January 1, 2026 through May 31, 2026) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with
the Fund’s Cumulative Distribution Rate for 2026. In addition, the Fund’s Average Annual Total Return for the five-year period ending May 31, 2026 is set forth below. Shareholders should note the relationship between the Average
Annual Total Return with the Fund’s Current Annualized Distribution Rate for 2026. The performance and distribution rate information disclosed in the table is based on the Fund’s net asset value per share (NAV). The Fund’s NAV is
calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund’s investment
performance, it does not measure the value of a shareholder’s individual investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply and demand
for the Fund’s shares in the open market.
1166 Avenue of the Americas, New York, NY 10036-2708 Tel: 212.832.3232 Fax: 212-832-3622
Fund Performance and Distribution Rate Information:
|
|
|
|
|
|
Year-to-date January 1, 2026 to
May 31, 2026 |
|
|
|
|
| Year-to-date Cumulative Total Return1 |
|
|
10.28% |
|
| Cumulative
Distribution Rate2 |
|
|
4.06% |
|
| |
|
|
|
|
|
Five-year period ending May 31, 2026 |
|
|
|
|
| Average Annual
Total Return3 |
|
|
4.16% |
|
| Current Annualized
Distribution Rate4 |
|
|
8.13% |
|
| |
1. |
Year-to-date Cumulative Total
Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
|
| |
2. |
Cumulative Distribution Rate for the Fund’s current fiscal period (January 1, 2026 through
June 30, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of May 31, 2026.
|
| |
3. |
Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the
five-year period ending May 31, 2026. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions. |
| |
4. |
The Current Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a
percentage of the Fund’s NAV as of May 31, 2026. |
This Fund has a managed distribution policy that seeks to deliver the
Fund’s long term total return potential through regular monthly distributions declared at a fixed rate per share. Distributions may be paid in part or in full from net investment income, realized capital gains and by returning capital, or a
combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the
Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. The Board of Directors of the Fund may
amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund’s shares.
Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund’s most
recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission’s EDGAR Database.
You should read these reports and other filings carefully before investing.
Shareholders should not use the information provided here in preparing
their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.