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4-Traders Homepage  >  Equities  >  Nyse  >  Virtus Total Return Fund Inc    ZF

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Virtus Total Return Fund Inc. : Declares Distribution And Discloses Sources Of Distribution -- Section 19(a) Notice

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09/13/2017 | 08:04pm CEST

HARTFORD, Conn., Sept. 13, 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 October 11, 2017 October 12, 2017 October 19, 2017
                          ------ ---------------- ---------------- ----------------

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                      June 2017 (QTD)        Year-to-date (YTD) (1)
    ----------------------                      --------------         ---------------------

                                                   Per Share                 Percentage            Per Share          Percentage
                                                                             of Current             Amount            of Current
                                                    Amount                  Distribution                             Distribution

    (Sources)
    --------

    Net Investment Income                                       $0.124                       34.5%           $0.232                32.1%
    ---------------------                                       ------                        ----            ------                 ----

    Net Realized Foreign Currency Gains                              -                       0.0%                -                0.0%
    -----------------------------------                            ---                        ---               ---                 ---

    Net Realized Short-Term Capital Gains                        0.054                       14.9%            0.121                16.7%
    -------------------------------------                        -----                        ----             -----                 ----

    Net Realized Long-Term Capital Gains                         0.183                       50.6%            0.342                47.4%
    ------------------------------------                         -----                        ----             -----                 ----

    Return of Capital (or other Capital Source)                      -                       0.0%            0.027                 3.8%
    ------------------------------------------                     ---                        ---             -----                  ---

    Total Distribution                                          $0.361                      100.0%           $0.722               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.

    June 30, 2017
    -------------

    Average Annual Total Return on
     NAV for the 5-year period
     ended this quarter (2)                           13.01%
    ------------------------------                     -----

    Current Fiscal YTD Annualized
     Distribution Rate (3)                            10.75%
    -----------------------------                      -----

    YTD Cumulative Total Return on
     NAV (4)                                          19.20%
    ------------------------------                     -----

    YTD Cumulative Distribution
     Rate (5)                                          5.38%
    ---------------------------                         ----

    (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 [email protected], 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.

View original content:http://www.prnewswire.com/news-releases/virtus-total-return-fund-inc-declares-distribution-and-discloses-sources-of-distribution----section-19a-notice-300519050.html

SOURCE Virtus Total Return Fund Inc.

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