Virtus Total Return Fund Inc. Declares Distribution | state
HARTFORD, Conn., May 20, 2021 / PRNewswire / – Virtus Total Return Fund Inc. (NYSE: ZTR) today announced the following monthly distributions:
|
Distribution amount |
Expiration date |
Registration Date |
Payment date |
|
$ 0.08 |
June 10, 2021 |
June 11, 2021 |
June 18, 2021 |
|
$ 0.08 |
July 9, 2021 |
July 12, 2021 |
July 19, 2021 |
|
$ 0.08 |
August 11, 2021 |
August 12, 2021 |
August 19, 2021 |
|
$ 0.08 |
September 10, 2021 |
September 13, 2021 |
September 20, 2021 |
Under its managed distribution plan, the Fund will seek to maintain a constant level of distribution which can be paid in part or in whole from net investment income and realized capital gains, or a combination thereof. this. Shareholders should note, however, that if the aggregate net investment income and net realized capital gains of the Fund are less than the amount of the distribution level, the difference will be distributed from the assets of the Fund and will constitute a return of capital of the shareholder. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or the terms of the Fund’s managed distribution plan.
The Fund believes that it has distributed more than its income and capital gains; therefore, part of your distribution may be a return of capital. A return of capital may occur, for example, when all or part of the money you have invested in the Fund is returned to you. A return of capital distribution does not necessarily reflect the investment performance of the Fund and should not be confused with “return” or “income”.
The Fund has provided this estimate of the sources of distributions:
|
Distribution estimates |
April 2021 (MTD) |
Cumulative fiscal year (YTD)(1) |
||||||||
|
(Sources) |
Per share Amount |
Percentage current Distribution |
Per share Amount |
Percentage current Distribution |
||||||
|
Net investment income |
0.001 USD |
0.8% |
$ 0.085 |
21.3% |
||||||
|
Short-term net capital gains |
– |
0.0% |
– |
0.0% |
||||||
|
Long-term net capital gains |
– |
0.0% |
– |
0.0% |
||||||
|
Repayment of capital (or other source of capital) |
0.079 |
99.2% |
0.315 |
78.7% |
||||||
|
Total distribution |
$ 0.080 |
100.0% |
$ 0.400 |
100.0% |
||||||
|
(1) Fiscal year started on December 1, 2020. |
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Information regarding the performance of the Fund and the distribution rates are presented below. Please note that all performance figures are based on the net asset value of the Fund and not on the market price of shares in the Fund. Performance figures are not meant to represent individual shareholder performance.
|
April 30, 2021 |
|||
|
Average annual total return on net asset value for the 5-year period (2) |
8.66% |
||
|
Annualized payout rate for the current year (3) |
10.07% |
||
|
Total cumulative return of the net asset value over the period during the period (4) |
7.02% |
||
|
Cumulated payout rate over the fiscal year (5) |
4.20% |
||
|
(2) |
The average annual total return on net asset value is the compound annual return for the five-year period. It reflects the change in the net asset value of the Fund and the reinvestment of all distributions. |
||
|
(3) |
The current year annualized payout rate is the current annualized payout rate as a percentage of the Fund’s net asset value at the end of the month. |
||
|
(4) |
The cumulative total return on net asset value for the fiscal year is the percentage change in the net asset value of the Fund between the first day of the fiscal year and the end of the month, including distributions paid and assuming reinvestment of these distributions. |
||
|
(5) |
The cumulative cumulative distribution rate for the year is the dollar value of distributions from the first day of the year to the end of that month as a percentage of the net asset value of the Fund at the end of the month. |
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The amounts and sources of distributions shown in this notice are estimates only and are not provided for tax reporting purposes. The actual amounts and sources of distributions for tax purposes will depend on the Fund’s investment experience during the remainder of its financial year and may be subject to change based on tax regulations. The Fund or your dealer will send you a Form 1099-DIV for the calendar year which will tell you the distributions to be declared for federal income tax purposes.
About the fund
Virtus Total Return Fund Inc. is a diversified closed-end fund whose investment objective is capital appreciation, with income being a secondary objective. Virtus Investment Advisers, Inc. served as the investment advisor, and Duff & Phelps Investment Management Co. and Newfleet Asset Management, LLC have been sub-advisers of the Fund since December 9, 2011. Performance and characteristics before December 9, 2011 were achieved by the previous advisor using a different investment strategy.
For more information about the Fund, contact Shareholder Services at (866) 270-7788, by email at closedendfunds@virtus.com, or via closed fund section of www.virtus.com.
Fund risks
An investment in a fund is subject to risks, including the risk of possible loss of capital. A fund’s shares may be worth less when sold than what an investor paid for them. Shares of closed-end funds may trade at a premium or at a discount to their net asset value. For more information on the investment objective and the risks of the Fund, please consult the Fund’s annual report. A copy of the Fund’s most recent annual report can be obtained free of charge by contacting “Shareholder Services” as indicated at the bottom of this press release.
About Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. has over 35 years of experience managing investment portfolios, including segregated institutional accounts and open and closed-end funds investing in utilities, master limited partnerships (MLPs), infrastructure, and corporate trusts. real estate investment (REIT). For more information visit www.dpimc.com.
About Newfleet Asset Management
Newfleet asset management, an affiliate manager of Virtus Investment Partners, offers comprehensive management of fixed income portfolios across multiple strategies. Newfleet’s multisectoral strategies team that manages the Virtus Total Return Fund Inc. draws on the knowledge and skills of investment professionals with expertise in all sectors of the bond market, including evolving sectors, specialized and disadvantaged. The team uses active sector rotation and disciplined risk management for portfolio construction, avoiding interest rate bets and remaining neutral against each strategy’s benchmark. For more information visit www.newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique portfolio managers, singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and certain sub-advisers, each with a distinct investment style, stand-alone investment process and individual brand. For more information visit www.virtus.com.
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SOURCE Virtus Total Return Fund Inc.
