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NEW YORK, NY— July 6, 2018 — Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) (the “Fund”) today announced that its Board of Trustees declared its monthly distributions for July, August and September 2018.
|Month||Record Date||Ex Date||Payable Date||Amount per Share|
|July 2018||July 18, 2018||July 17, 2018||July 26, 2018||$0.1042|
|August 2018||August 15, 2018||August 14, 2018||August 23, 2018||$0.1042|
|September 2018||September 19, 2018||September 18, 2018||September 28, 2018||$0.1042|
Based on current estimates, it is anticipated that a portion of the distributions paid in calendar 2018 will be treated for U.S. federal income tax purposes as a return of capital. The final determination of the tax status of those 2018 distributions will be made in early 2019 and provided to shareholders on Form 1099-DIV.
Shares purchased on or after the ex-distribution date will not receive the distribution discussed above. Please contact your financial advisor with any questions. Distributions may include net investment income, capital gains and/or return of capital. Any portion of the Fund’s distributions that is a return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.” The tax status of distributions will be determined at the end of the taxable year.
Brookfield Investment Management Inc. (the “Firm”) is an SEC-registered investment adviser and represents the Public Securities platform of Brookfield Asset Management, Inc., providing global listed real assets strategies including real estate equities, infrastructure equities, multi-strategy real asset solutions and real asset debt. With more than $18 billion of assets under management as of March 31, 2018, the Firm manages separate accounts, registered funds and opportunistic strategies for institutional and individual clients, including financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and high net worth investors. The Firm is a wholly-owned subsidiary of Brookfield Asset Management, Inc., a leading global alternative asset manager with approximately $285 billion of assets under management as of March 31, 2018. For more information, go to www.brookfield.com.
Center Coast Brookfield MLP & Energy Infrastructure Fund is managed by Brookfield Investment Management Inc. The Fund uses its website as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at www.brookfield.com.
Center Coast Brookfield MLP & Energy Infrastructure Fund
250 Vesey Street, 15th Floor
New York, NY 10281-1023
The Fund’s investments are concentrated in the energy infrastructure industry with an emphasis on securities issued by master limited partnerships (“MLPs”), which may increase price fluctuation. The value of commodity-linked investments such as the MLPs and energy infrastructure companies (including midstream MLPs and energy infrastructure companies) in which the Fund invests are subject to risks specific to the industry they serve, such as fluctuations in commodity prices, reduced volumes of available natural gas or other energy commodities, slowdowns in new construction and acquisitions, a sustained reduced demand for crude oil, natural gas and refined petroleum products, depletion of the natural gas reserves or other commodities, changes in the macroeconomic or regulatory environment, environmental hazards, rising interest rates and threats of attack by terrorists on energy assets, each of which could affect the Fund’s profitability.
MLPs are subject to significant regulation and may be adversely affected by changes in the regulatory environment including the risk that an MLP could lose its tax status as a partnership. If an MLP was obligated to pay federal income tax on its income at the corporate tax rate, the amount of cash available for distribution would be reduced and such distributions received by the Fund would be taxed under federal income tax laws applicable to corporate dividends received (as dividend income, return of capital, or capital gain).
In addition, investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. Such companies may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling.
The Fund is a non-diversified, closed-end management investment company. As a result, the Fund’s returns may fluctuate to a greater extent than those of a diversified investment company. Shares of closed-end management investment companies, such as the Fund, frequently trade at a discount to their net asset value, which may increase investors’ risk of loss. The Fund is not a complete investment program and you may lose money investing in the Fund.
Because of the Fund’s concentration in MLP investments, the Fund is not eligible to be treated as a
“regulated investment company” under the Internal Revenue Code of 1986, as amended. Instead, the Fund will be treated as a regular corporation for U.S. federal income tax purposes and, as a result, unlike most investment companies, will be subject to corporate income tax to the extent the Fund recognizes taxable income.
An investment in MLP units involves risks that differ from a similar investment in equity securities, such as common stock, of a corporation. Holders of MLP units have the rights typically afforded to limited partners in a limited partnership. As compared to common shareholders of a corporation, holders of MLP units have more limited control and limited rights to vote on matters affecting the partnership. There are certain tax risks associated with an investment in MLP units. Additionally, conflicts of interest may exist between common unit holders, subordinated unit holders and the general partner of an MLP.
The Fund currently seeks to enhance the level of its current distributions by utilizing financial leverage through borrowing, including loans from financial institutions, or the issuance of commercial paper or other forms of debt, through the issuance of senior securities such as preferred shares, through reverse repurchase agreements, dollar rolls or similar transactions or through a combination of the foregoing. Financial leverage is a speculative technique and investors should note that there are special risks and costs associated with financial leverage.
Past performance is no guarantee of future results.