HARTFORD, Conn., July 5, 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
|
July 11, 2017
|
July 13, 2017
|
July 20, 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)
|
|
(Sources)
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
|
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 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.