HARTFORD, Conn., Nov. 15, 2017 /PRNewswire/ -- The Virtus
Total Return Fund Inc. (NYSE: ZF) announced the following quarterly
distribution:
|
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
|
$0.361
|
January 4,
2018
|
December 29,
2017
|
January 9,
2018
|
For record date December 29, 2017,
the fund intends to distribute the greater of $0.361 per share or all available net investment
income and net short and long term capital gains, in accordance
with requirements under the Internal Revenue Code of 1986, as
amended. The amount of any supplemental distribution over the
$0.361 per share, if any, will be
announced on January 2, 2018.
Under the terms of its managed distribution plan, the fund will
seek to maintain a consistent distribution level that may be paid
in part or in full from net investment income and realized capital
gains, or a combination thereof. Shareholders should note, however,
that if the fund's aggregate net investment income and net realized
capital gains are less than the amount of the distribution level,
the difference will be distributed from the fund's assets and will
constitute a return of the shareholder's capital. You should not
draw any conclusions about the fund's investment performance from
the amount of this distribution or from the terms of the fund's
managed distribution plan.
The fund estimates that it has distributed more than its income
and capital gains; therefore, a portion of your distribution may be
a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the
fund is paid back to you. A return of capital distribution
does not necessarily reflect the fund's investment performance and
should not be confused with 'yield' or 'income'.
The fund provided this estimate of the sources of the
distributions:
|
Distribution
Estimates
|
September 2017
(QTD)
|
Year-to-date
(YTD) (1)
|
|
(Sources)
|
Per
Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
|
Net Investment
Income
|
$
0.059
|
16.2%
|
$
0.285
|
26.3%
|
|
Net Realized Foreign
Currency Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized
Short-Term Capital Gains
|
0.093
|
25.7%
|
0.217
|
20.0%
|
|
Net Realized
Long-Term Capital Gains
|
0.209
|
58.1%
|
0.577
|
53.3%
|
|
Return of Capital (or
other Capital Source)
|
-
|
0.0%
|
0.004
|
0.4%
|
|
Total
Distribution
|
$
0.361
|
100.0%
|
$
1.083
|
100.0%
|
|
(1) YTD January 11,
2017 to November 30, 2017. (The distribution paid on January
10, 2017 was reportable for tax on Form 1099 in
2016)
|
Information regarding the fund's performance and distribution
rates is set forth below. Please note that all performance figures
are based on the fund's NAV and not the market price of the fund's
shares. Performance figures are not meant to represent individual
shareholder performance.
|
September 29,
2017
|
|
|
|
Average Annual
Total Return on NAV for the 5-year period ended this quarter
(2)
|
12.54%
|
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
10.62%
|
|
|
YTD Cumulative
Total Return on NAV (4)
|
24.24%
|
|
|
YTD Cumulative
Distribution Rate (5)
|
7.96%
|
|
|
(2)
Average Annual Total Return on NAV is the
annual compound return for the five-year period. It
reflects
the change in the fund's NAV and
reinvestment of all distributions.
|
|
(3)
Current Fiscal YTD Annualized
Distribution Rate is the current distribution rate annualized as
a
percentage of the fund's NAV at
quarter end.
|
|
(4)
YTD Cumulative Total Return on NAV is the
percentage change in the fund's NAV from the first day of
the year to this quarter end, including
distributions paid and assuming reinvestment of those
distributions.
|
|
(5)
YTD Cumulative Distribution Rate is the
dollar value of distributions from the first day of the year to
this
quarter end as a percentage of the fund's
NAV at quarter end.
|
|
|
|
|
The amounts and sources of distributions reported in this notice
are estimates only and are not being provided for tax reporting
purposes. The actual amounts and sources of the distributions will
depend on the fund's investment experience during the remainder of
its fiscal year and may be subject to changes based on tax
regulations. The fund or your broker will send shareholders a Form
1099-DIV for the calendar year that will tell shareholders what
distributions to report for federal income tax purposes.
About the Fund
The Virtus Total Return Fund
Inc. (formerly known as, The Zweig Fund, Inc.) is a diversified
closed-end fund and its investment objective is capital
appreciation, with income as a secondary objective. Virtus
Investment Advisers, Inc. has been the investment adviser, and Duff
& Phelps Investment Management Co. and Newfleet Asset
Management, LLC have been subadvisers, to the fund since
December 9, 2011. Performance and
characteristics prior to that date were attained by the previous
adviser using a different investment strategy.
For more information on the fund, contact shareholder services
at (866) 270-7788, by email at closedendfunds@virtus.com, or
through the closed end fund section on the web at
www.virtus.com.
Fund Risks
An investment in a fund is subject
to risk, including the risk of possible loss of principal. A fund's
shares may be worth less upon their sale than what an investor paid
for them. Shares of closed-end funds may trade at a discount to
their net asset value. For more information about a fund's
investment objective and risks, please see the fund's annual
report. A copy of the fund's most recent annual report may be
obtained free of charge by contacting "Shareholder Services" as set
forth at the top of this press release.
About Duff & Phelps Investment Management
Co.
Duff & Phelps Investment Management Co. has
more than 35 years of experience managing investment portfolios,
including institutional separate accounts and open- and closed-end
funds investing in utilities, infrastructure, real estate
investment trusts (REITs), and master limited partnerships (MLPs),
and international equity. For more information, visit
www.dpimc.com.
About Newfleet Asset Management
Newfleet Asset
Management provides comprehensive fixed income portfolio management
in multiple strategies. Newfleet leverages the knowledge and skill
of a team of investment professionals with expertise in every
sector of the bond market, including evolving, specialized, and
out-of-favor sectors. The team employs active sector rotation and
disciplined risk management to portfolio construction, avoiding
interest rate bets, and remaining duration neutral to each
strategy's stated benchmark. For more information, visit
www.newfleet.com.
About Virtus Investment Partners
Virtus
Investment Partners (NASDAQ: VRTS) is a distinctive partnership of
boutique investment managers singularly committed to the long-term
success of individual and institutional investors. For more
information visit www.virtus.com.
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SOURCE Virtus Total Return Fund Inc.