HARTFORD, Conn., Nov. 14, 2018 /PRNewswire/ -- 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,
2019
|
December 31,
2018
|
January 9,
2019
|
For record date December 31, 2018,
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, 2019.
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 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
|
17.5%
|
$
0.282
|
19.5%
|
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
|
5.5%
|
Return of Capital (or
other Capital Source)
|
0.298
|
82.5%
|
1.083
|
75.0%
|
Total
Distribution
|
$
0.361
|
100.0%
|
$
1.444
|
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.
September 28,
2018
|
|
|
Average Annual
Total Return on NAV for the 5-year period
(2)
|
8.73%
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
12.89%
|
|
YTD Cumulative
Total Return on NAV (4)
|
-8.57%
|
|
YTD Cumulative
Distribution Rate (5)
|
12.89%
|
|
(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 distributionns 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
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.
Rampart Investment Management has been a subadviser since
October 15, 2018. Performance
and characteristics prior to December 9,
2011 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. For more information, visit
www.newfleet.com.
About Rampart Investment Management
Rampart Investment Management is an affiliated manager of Virtus
Investment Partners specializing in option strategies. A registered
investment adviser since 1983, Rampart manages client positions and
portfolios using domestic and international index and equity
options.
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 to download
multimedia:http://www.prnewswire.com/news-releases/virtus-total-return-fund-inc-declares-distribution-300750461.html
SOURCE Virtus Total Return Fund Inc.