HARTFORD, Conn., 02/2024 /PRNewswire/ — Virtus Total Return Fund Inc. ( New York stock market : ZTR) today announced the following monthly distributions:
|
Distribution amount |
Secondment date |
Registration Date |
Payment date |
|
$0.08 |
September 9, 2023 |
September 12, 2023 |
September 19, 2023 |
|
$0.08 |
October 12, 2023 |
October 13, 2023 |
October 20, 2023 |
|
$0.08 |
November 10, 2023 |
November 14, 2023 |
November 21, 2023 |
Under its managed distribution plan, the Fund will seek to maintain a constant level of distributions which may be paid in part or in whole out of net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the 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 out of the assets of the Fund and will constitute a return of capital to the shareholder. You should not draw any conclusions about the investment performance of the Fund from the amount of this distribution or the terms of the Fund’s managed distribution plan.
The Fund believes 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 some or all of the money you have invested in the Fund is returned to you. A return of capital distribution does not necessarily reflect the performance of the Fund’s investments and should not be confused with “yield” or “income”.
The Fund has provided this estimate of the sources of distributions:
|
Distribution estimates |
August 2023 (BAT) |
Fiscal year to date |
|||
|
(Source) |
Per share |
Percentage |
Per share |
Percentage current |
|
|
Net investment income |
$0.003 |
4.3% |
0.170 |
23.7% |
|
|
Short-term net realized capital gains |
– |
0.0% |
– |
0.0% |
|
|
Net realized long-term capital gains |
0.077 |
95.7% |
0.197 |
27.4% |
|
|
Return of capital (or other source of capital) |
– |
0.0% |
0.353 |
48.9% |
|
|
Total distribution |
$0.080 |
100.0% |
$0.720 |
100.0% |
|
|
(1) |
Fiscal year started on December 1, 2021 |
Information regarding the Fund’s performance and distribution rates is set out below. Please note that all performance figures are based on the Fund’s net asset value and not the market price of the Fund’s shares. Performance figures are not intended to represent individual shareholder performance.
|
August 31, 2023 |
|||
|
Average annual total return on net asset value for the 5-year period (2) |
2.77% |
||
|
Current annualized distribution rate for the current year (3) |
11.82% |
||
|
Cumulative total return on net asset value since the beginning of the year (4) |
-1.04% |
||
|
YTD Tax Cumulative Distribution Rate (5) |
8.87% |
||
|
(2) |
The average annual total return on net asset value is the compounded 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 annualized distribution rate for the current year is the current annualized distribution rate as a percentage of the net asset value of the Fund at the end of the month. |
||
|
(4) |
Year-to-date total return on net asset value is the percentage change in the fund’s net asset value from the first day of the year to the end of that month, including distributions paid and assuming the reinvestment of these distributions. |
||
|
(5) |
The year-to-date cumulative distribution rate is the dollar value of the year-to-date distributions at the end of that month as a percentage of the net asset value of the Fund at the end of the month. |
||
The amounts and sources of distributions set forth 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 investment experience of the Fund during the remainder of its financial year and may be subject to change depending on tax regulations. The Fund or your dealer will send you a Form 1099-DIV for the calendar year which will tell you which distributions to report 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 as a secondary objective. Virtus Investment Advisers, Inc. is the investment advisor, and Duff & Phelps Investment Management Co. and Newfleet Asset Management are the Fund’s sub-advisors.
For more information about the Fund, contact Shareholder Services at (866) 270-7788, by email at [email protected]or by the Closed-end funds section of virtus.com.
Fund risks
An investment in a fund is subject to risks, including the risk of possible loss of principal. A fund’s shares may be worth less when sold than an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information on the Fund’s investment objective and risks, please see 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. pursues investment strategies with an exceptional depth of resources and expertise. With over 35 years of experience managing investment portfolios, Duff & Phelps has established a reputation as a leader in investing in global listed infrastructure, global listed real estate, clean energy and diversified real estate assets in separate institutional accounts and open and closed accounts. end fund. For more information, visit dpimc.com.
About Newfleet Asset Management
Newfleet Asset Management offers comprehensive management of fixed income portfolios across multiple strategies. The Newfleet Multi-Sector Strategies team that manages Virtus Total Return Fund Inc. employs active sector rotation and disciplined risk management in portfolio construction, avoiding interest rate bets and remaining neutral to the stated benchmark of each strategy. Newfleet Asset Management is a division of Virtus Fixed Income Advisers, LLC, which is a registered investment adviser affiliated with Virtus Investment Partners. For more information, visit newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of specialist investment managers uniquely 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-advisors, each with a distinct investment style, independent investment process and individual brand. For more information, visit virtus.com.
SOURCE Virtus Total Return Fund Inc.