HARTFORD, Conn., May 23, 2018 /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
|
July 11,
2018
|
July 12,
2018
|
July 19,
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
|
March 2018
(QTD)
|
Year-to-date
(YTD) (1)
|
|
(Sources)
|
Per
Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
|
Net Investment
Income
|
$
0.063
|
17.4%
|
$
0.109
|
15.1%
|
|
Net Realized Foreign
Currency Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized
Short-Term Capital Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized
Long-Term Capital Gains
|
-
|
0.0%
|
0.079
|
11.0%
|
|
Return of Capital (or
other Capital Source)
|
0.298
|
82.6%
|
0.534
|
73.9%
|
|
Total
Distribution
|
$
0.361
|
100.0%
|
$
0.722
|
100.0%
|
|
(1)
|
YTD December 1, 2017
to November 30, 2018.
|
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.
|
March 29,
2018
|
|
|
|
Average Annual
Total Return on NAV for the 5-year period
(2)
|
8.09%
|
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
12.63%
|
|
|
YTD Cumulative
Total Return on NAV (4)
|
-12.59%
|
|
|
YTD Cumulative
Distribution Rate (5)
|
6.32%
|
|
|
(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. is a diversified closed-end
fund and its investment objective is capital appreciation, with
income as a secondary objective. The Fund also pursues an options
overlay strategy that seeks to generate additional income. 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. The options
overlay strategy may not be successful in achieving its objective
of increasing distributable income while limiting the risk of loss
and, in periods of significant moves in the S&P 500® Index, has
resulted in and, in the future, may result in, losses for
investors. 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. The options overlay
strategy is managed by a team at Newfleet distinct from the fixed
income investment professionals. For more information, visit
www.newfleet.com.
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SOURCE Virtus Total Return Fund Inc.