Cohen & Steers Reit & Preferred & Income Fund Declares $0.136 Dividend on October 14: What Investors Should Know

Introduction

Cohen & Steers Reit & Preferred & Income Fund (RNP) continues to serve as a consistent source of income for investors seeking exposure to a diversified mix of real estate investment trusts (REITs), preferred securities, and other income-generating assets. On October 14, 2025, the fund will go ex-dividend with a cash dividend of $0.136 per share, maintaining its historical pattern of regular distributions.

The broader market environment remains supportive of high-yield equities and income strategies, as interest rate expectations temper and investors seek stable cash flows. RNP’s dividend policy aligns with its structure as a closed-end fund, which is typically more aggressive in distributing earnings to shareholders.

Dividend Overview and Context

Key dividend metrics such as the dividend per share (DPS) and ex-dividend date are critical for investors to understand the financial implications of owning the stock on and after the ex-date.

• Cash Dividend per Share (DPS): $0.136
• Ex-Dividend Date: October 14, 2025
• No stock dividend declared in this announcement

On the ex-dividend date, RNP’s stock price is expected to adjust downward by approximately the amount of the dividend. This is a standard market response and does not reflect a change in the fund’s underlying value. Investors holding RNP at the close of market on October 11, 2025, will be entitled to receive the dividend.

Backtest Analysis

The historical performance of RNP around ex-dividend dates has been well-documented. A backtest of 17 dividend events shows that RNP's stock price typically recovers from the ex-dividend price drop within just 1.33 days on average. This indicates that the market efficiently factors in the dividend impact with minimal long-term volatility.

Additionally, the 15-day recovery probability stands at 88%, reinforcing the idea that RNP’s stock tends to stabilize and continue its broader trend after the ex-date. These results support a strategy of holding RNP through ex-dividend dates, as the price normalization occurs swiftly and predictably.

Driver Analysis and Implications

Looking at the latest financial report, RNP has maintained a strong operating performance, with a total revenue of $35.2 million and a net income of $45.7 million. The fund has also demonstrated disciplined expense management, with a total expense of $5.7 million and a marketing and administrative expense of $597,000. These figures support the fund’s ability to maintain and potentially grow its dividend payouts.

The preferred dividend component is minimal at $7,439, leaving the vast majority of earnings attributable to common shareholders. This aligns with the fund’s structure and focus on income distribution, which is a key differentiator in the closed-end fund space.

From a macroeconomic perspective, RNP’s dividend strategy remains robust amid current market conditions, where the search for yield remains a priority. As interest rate uncertainty continues, funds like RNP offer a compelling option for income-focused investors.

Investment Strategies and Recommendations

For short-term investors, it may be prudent to avoid transacting around the ex-dividend date to avoid potential price slippage. However, given RNP’s historically quick price recovery, this risk is minimal. For long-term investors, RNP offers an attractive income stream with a strong balance sheet and a consistent history of dividend payments.

Investors should consider the following strategies:

• Reinvest dividends to compound returns over time
• Hold through ex-dividend dates to benefit from rapid price normalization
• Monitor the fund’s upcoming earnings and dividend announcements for signs of sustainability and growth

Conclusion & Outlook

Cohen & Steers Reit & Preferred & Income Fund’s $0.136 dividend on October 14, 2025, reflects the fund’s ongoing commitment to delivering regular income to shareholders. With strong financial performance and a favorable market response to its dividend events, RNP remains a compelling option in the income sector.

Looking ahead, investors should stay tuned for the fund’s next earnings report and future dividend announcements, which will provide further insight into its ability to sustain its current payout levels and potentially increase them in line with performance.