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NEW YORK, April 7, 2020 /PRNewswire/ -- Over the last month, Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (NYSE: MIE), the "Fund", has reduced its leverage following a period of extreme volatility and price depreciation in the market for master limited partnerships (MLPs) and other midstream energy companies. On March 30, 2020, the Fund announced a reduction of its monthly distribution rate and declared a distribution of $0.015 per share of common stock. Monthly distributions, announced on March 30, 2020, are payable on April 30, May 29 and June 30, 2020. Reduction in Leverage The Fund reduced the amount of leverage employed in response to adverse market conditions for MLPs and other midstream energy companies, which impacted the value of the Fund's investments and its ability to comply with certain terms of the asset coverage requirements of the Investment Company Act of 1940. The Fund employs a leverage ratio of 26.8% as of April 6, 2020. Reduction in Distribution Rate In approving the change in the distribution rate from $0.06 per share to $0.015 per share, representing a 75% reduction, the Fund's management and Board of Directors considered the challenges facing midstream energy companies, as well as other factors, including the amount of distributable cash flow expected to be received from the Fund's investments, the reduced leverage the Fund is expected to employ in the near term, and the expected cost of leverage and other Fund expenses. The Fund pays regular monthly cash distributions to common shareholders at a level rate that may be adjusted from time to time. The Fund's distribution reflects net investment income and may also include return of capital. Return of capital includes distributions paid by a fund in excess of its net investment income. Such excess is distributed from the fund's assets. Under federal tax regulations, some or all the return of capital distributed by a fund may be taxed as ordinary income. The amount of monthly distributions may vary depending on several factors, including changes in portfolio and market conditions. Shareholders should not use the information provided 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. Investors should consider the investment objectives, risks, charges and expenses 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. Website: https://www.cohenandsteers.com/ Symbol: (NYSE: CNS) About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Hong Kong and Tokyo. Forward-Looking Statements This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. SOURCE Cohen & Steers Related Links https://www.cohenandsteers.com

Answer: Cohen & Steers MLP Income and Energy Opportunity Fund Update on Leverage and Distribution Rate