HARTFORD, Conn., Sept. 21, 2016 /PRNewswire/ -- The Zweig
Total Return Fund, Inc. (NYSE: ZTR) today announced the following monthly distributions:
Amount of Distribution
|
Ex-Date
|
Record Date
|
Payable Date
|
$0.113
|
October 11, 2016
|
October 13, 2016
|
October 20, 2016
|
$0.113
|
November 9, 2016
|
November 14, 2016
|
November 21, 2016
|
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
|
August 2016 (MTD)
|
Year-to-date (YTD) (1)
|
(Sources)
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
Net Investment Income
|
$0.045
|
40.0%
|
$0.187
|
22.8%
|
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
|
0.067
|
60.0%
|
0.619
|
75.3%
|
Return of Capital (or other Capital Source)
|
-
|
0.0%
|
0.016
|
1.9%
|
Total Distribution
|
$0.112
|
100.0%
|
$0.822
|
100.0%
|
(1) YTD January 12, 2016 to January 11, 2017. (The distribution paid
on January 11, 2016 was reportable for tax on Form 1099 in 2015)
|
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.
August 31, 2016
|
|
|
Average Annual Total Return on NAV for the 5-year period ended this
quarter (2)
|
7.05%
|
|
Current Fiscal YTD Annualized Distribution Rate
(3)
|
10.00%
|
|
YTD Cumulative Total Return on NAV (4)
|
5.08%
|
|
YTD Cumulative Distribution Rate (5)
|
6.12%
|
|
(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 cumulative distribution rate annualized as a
percentage of the fund's NAV at month 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 month 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
month end as a percentage of the fund's NAV at month 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 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 Zweig Total Return Fund is a diversified closed-end fund that seeks to generate total return, consisting of
capital appreciation and income. It currently targets an allocation of 60 percent equity securities and 40 percent fixed income.
The equity allocation is invested exclusively in what the managers believe are high-quality companies within the high yielding
global equity universe. The fixed income allocation is invested primarily in intermediate-term debt securities across 14 fixed
income sectors. The fund also pursues an options income strategy whereby it purchases and sells out-of-the money puts and calls,
creating an options spread.
Virtus Investment Advisers has been the investment adviser to the fund and Kayne Anderson
Rudnick and Newfleet Asset Management have been subadvisers since September 7, 2016.
Performance and characteristics prior to that date were attained by the previous adviser using a different investment
strategy.
The fund will begin trading under its new name, the Virtus Global Dividend & Income Fund Inc., on September 27, 2016. Its ticker symbol will remain "ZTR."
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 the fund is subject to risk. The fund's shares may be worth less than what an investor paid for them
when they are sold. The options strategy may not be successful in its objective of increasing distributable income while limiting
the risk of loss and could result in increased losses for investors.
About Kayne Anderson Rudnick
Kayne
Anderson Rudnick (KAR) believes that superior risk-adjusted returns may be achieved through investment in high-quality
companies with market dominance, excellent management, financial strength, and consistent growth, purchased at reasonable prices.
KAR's investment strategy is to build a portfolio of companies that have strong, consistent growth with low business and
financial risk, and hold these companies over the long term based on its conviction that the investment returns of the portfolio
will mirror the financial results of these companies.
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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/the-zweig-total-return-fund-inc-declares-distributions-and-discloses-sources-of-distribution----section-19a-notice-300331876.html
SOURCE The Zweig Total Return Fund, Inc.