Cohen & Steers Dividend Majors Fund, Inc. Raises Approximately $236 Million
January 27 2005 - 10:47AM
PR Newswire (US)
Cohen & Steers Dividend Majors Fund, Inc. Raises Approximately
$236 Million Begins Trading on New York Stock Exchange NEW YORK,
Jan. 27 /PRNewswire-FirstCall/ -- Cohen & Steers Capital
Management, Inc. announced today that Cohen & Steers Dividend
Majors Fund, Inc. has completed the pricing of its initial public
offering, and will issue 11.8 million shares at a price of $20 per
share for a total of approximately $236 million in assets (before
deduction of the sales charge and exclusive of the underwriters'
overallotment). The amount raised could be increased to
approximately $271 million (before deduction of the sales charge)
assuming full exercise of the underwriters' overallotment, which
may not occur. The fund's shares began trading today on the New
York Stock Exchange under the symbol "DVM." The fund's investment
objective is to seek high total return consisting of dividend
income and capital appreciation. Initially, the fund anticipates
investing 65% of its total assets in dividend-paying common stocks
(quantitative dividend strategy stocks) and 35% in real estate
investment trusts ("REIT") common stocks. Cohen & Steers
Capital Management, Inc., which serves as the fund's investment
manager, is a wholly owned subsidiary of Cohen & Steers, Inc.,
a publicly traded company whose common stock is listed on the New
York Stock Exchange under the symbol "CNS." The lead underwriter is
Merrill Lynch, Pierce, Fenner & Smith Incorporated. As with any
investment, the price of the fund's shares will fluctuate with
market conditions and, at the time of sale, may be worth more or
less than the original investment. Please consider the investment
objectives, risks, charges and expenses of the fund carefully
before investing. This and other information about the fund is in
the prospectus. Please call 1-800-330-7348 for a prospectus. Please
read the prospectus carefully before investing. Cohen & Steers
is a manager of high-income equity portfolios, specializing in U.S.
REITs, global real estate securities, preferred securities,
utilities and other high-yielding common stocks. Based in New York
City, the firm serves individual and institutional investors
through a wide range of open-end funds, closed-end funds and
institutional separate accounts. DATASOURCE: Cohen & Steers
Capital Management, Inc. CONTACT: John J. McCombe, Executive Vice
President, Cohen & Steers Capital Management, Inc.,
+1-212-832-3232 Web site: http://www.cohenandsteers.com/
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