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Overview of Cohen & Steers Closed-End Opportunity Fund's Distribution Policy

Cohen & Steers Closed-End Opportunity Fund, Inc. (NYSE: FOF) recently issued a notification regarding the sources of its distributions scheduled for July 31, 2025. This update is essential for shareholders looking to understand the financial performance and distribution strategy of the Fund.

Managed Distribution Policy

In December 2021, the Fund adopted a managed distribution policy which was approved by the Securities and Exchange Commission (SEC) under an exemptive relief. This policy has been designed to provide shareholders with consistent monthly distributions while pursuing the Fund's long-term total return potential. The monthly distributions are declared at a fixed rate per common share, offering shareholders a predictable income stream.

The managed distribution policy allows the Fund the flexibility to capture and realize capital gains throughout the year, enabling it to distribute these gains in a systematic manner. However, it is important to note that the Board of Directors holds the authority to modify, suspend, or terminate this policy at any time, potentially impacting the market price of the Fund's shares.

Breakdown of July 2025 Distributions

For the month of July 2025, the estimated distribution per common share stands at $0.0870, which comprises several components:

• - Net Investment Income: $0.0264 (30.34% of current distribution)
• - Net Realized Short-Term Capital Gains: $0.0070 (8.05%)
• - Net Realized Long-Term Capital Gains: $0.0536 (61.61%)
• - Return of Capital: $0.0000 (0.00%)

Cumulatively, for the fiscal year-to-date, the Fund has distributed a total of $0.6090 per common share. The sources reflect a strong emphasis on long-term capital gains, which account for a significant portion of the total distributions.

Tax Implications and Future Estimates

The distributions from the Fund may include various sources such as long-term capital gains, short-term capital gains, net investment income, and return of capital. Importantly, a return of capital distribution is not taxable but reduces the shareholder's basis in their investment in the Fund. The actual tax implications of these distributions, however, will be captured in the Form 1099-DIV, which shareholders will receive after the close of the calendar year.

At the conclusion of each month, detailed information regarding the distribution will be made available on the Fund's website and also communicated directly to shareholders. However, it should be noted that the final tax characteristics of distributions can only be accurately determined after the end of the year, subject to variation based on the Fund's performance and other market conditions.

Performance Review and Future Considerations

For the fiscal year 2025, from January 1 to June 30, the Fund has recorded a year-to-date cumulative total return of 8.33%. Coupled with a cumulative distribution rate of 4.90%, this offers a glimpse into the potential performance and return expectations for shareholders. Additionally, the Fund has reported an average annual total return of 11.79% over the last five years, suggesting a trend of robust performance in the longer term.

As investors probe deeper into these figures, it’s critical to recognize that while the NAV (Net Asset Value) serves as a marker of the Fund's performance, it does not necessarily translate directly to the value of a shareholder's individual investment, which is ultimately determined by market price dynamics.

Conclusion

Investors considering their position in the Cohen & Steers Closed-End Opportunity Fund, Inc. should carefully evaluate the Fund's investment objectives, associated risks, expenses, and charges. It is recommended to review recent reports and regulatory filings available through the website or financial advisors before making any investment decisions. Forward-looking statements made by the Fund could vary due to inherent risks and uncertainties associated with market dynamics.

For more detailed information regarding Cohen & Steers, investors can visit Cohen & Steers' official website.