Virtus Total Return Fund Inc. Announces Distributions and Discloses Sources of Distribution – Section 19(a) Notice
Virtus Total Return Fund (NYSE: ZTR) announced monthly distributions of $0.05 per share from December 2024 through March 2025. The Fund's distribution analysis reveals that 96.3% of the fiscal year-to-date distributions represent return of capital, with only 3.7% coming from net investment income. The Fund's performance metrics show an average annual total return on NAV of 4.10% for the 5-year period, with a current annualized distribution rate of 8.89%. The fiscal YTD cumulative total return on NAV stands at 18.85%, while the cumulative distribution rate is 8.15%.
Virtus Total Return Fund (NYSE: ZTR) ha annunciato distribuzioni mensili di $0.05 per azione da dicembre 2024 a marzo 2025. L'analisi delle distribuzioni del Fondo rivela che il 96.3% delle distribuzioni dall'inizio dell'anno fiscale rappresentano un ritorno di capitale, con solo il 3.7% proveniente da reddito da investimenti netto. Le metriche di performance del Fondo mostrano un rendimento totale annuale medio sul NAV del 4.10% per il periodo di 5 anni, con un tasso di distribuzione annualizzato attuale del 8.89%. Il rendimento totale cumulativo su NAV dall'inizio dell'anno fiscale è pari al 18.85%, mentre il tasso di distribuzione cumulativa è dell'8.15%.
Virtus Total Return Fund (NYSE: ZTR) anunció distribuciones mensuales de $0.05 por acción desde diciembre de 2024 hasta marzo de 2025. El análisis de las distribuciones del Fondo revela que el 96.3% de las distribuciones acumuladas hasta la fecha del año fiscal representan retorno de capital, con solo un 3.7% proveniente de ingresos netos por inversiones. Las métricas de rendimiento del Fondo muestran un retorno total anual promedio sobre el NAV del 4.10% para el período de 5 años, con una tasa de distribución anualizada actual del 8.89%. El retorno total acumulado hasta la fecha sobre el NAV es del 18.85%, mientras que la tasa de distribución acumulada es del 8.15%.
Virtus Total Return Fund (NYSE: ZTR)는 2024년 12월부터 2025년 3월까지 주당 $0.05의 월 배당금을 발표했습니다. 펀드의 배당 분석은 회계 연도 시작 이후 배당금의 96.3%가 자본 반환을 나타내며, 순투자 소득에서 온 것은 단 3.7%라는 것을 보여줍니다. 펀드의 성과 지표는 5년 동안의 NAV 평균 연간 총 수익률이 4.10%임을 나타내며, 현재 연환산 배당률은 8.89%입니다. 회계 연도 시작 이후 NAV에 대한 누적 총 수익률은 18.85%이며, 누적 배당률은 8.15%입니다.
Virtus Total Return Fund (NYSE: ZTR) a annoncé des distributions mensuelles de $0.05 par action de décembre 2024 à mars 2025. L'analyse des distributions du Fonds révèle que 96.3% des distributions à ce jour au cours de l’exercice représentent un retour de capital, avec seulement 3.7% provenant de revenus nets d'investissement. Les indicateurs de performance du Fonds montrent un rendement total annuel moyen sur le NAV de 4.10% pour la période de 5 ans, avec un taux de distribution annualisé actuel de 8.89%. Le rendement total cumulé sur le NAV depuis le début de l’exercice est de 18.85%, tandis que le taux de distribution cumulé est de 8.15%.
Virtus Total Return Fund (NYSE: ZTR) hat monatliche Ausschüttungen von $0.05 pro Aktie von Dezember 2024 bis März 2025 angekündigt. Die Analyse der Ausschüttungen des Fonds zeigt, dass 96.3% der bisher im laufenden Geschäftsjahr geleisteten Ausschüttungen Rückzahlungen von Kapital sind, während nur 3.7% aus Nettokapitaleinkünften stammen. Die Leistungskennzahlen des Fonds zeigen eine durchschnittliche jährliche Gesamtverzinsung auf den NAV von 4.10% über einen Zeitraum von 5 Jahren, mit einer aktuellen annualisierten Ausschüttungsrate von 8.89%. Die kumulierte Gesamtverzinsung auf den NAV seit Jahresbeginn beträgt 18.85%, während die kumulierte Ausschüttungsrate bei 8.15% liegt.
- 18.85% fiscal YTD cumulative total return on NAV
- 4.10% average annual total return on NAV for 5-year period
- 8.89% annualized current distribution rate
- 96.3% of distributions represent return of capital, indicating distributions exceed earned income
- No realized capital gains contributing to distributions
- Only 3.7% of distributions come from net investment income
Insights
This distribution announcement reveals important details about ZTR's financial health and investment strategy. The fund maintains a
The fund's
Amount of Distribution |
Ex-Date/Record Date |
Payable Date |
|
December 12, 2024 |
December 30, 2024 |
|
January 13, 2025 |
January 30, 2025 |
|
February 13, 2025 |
February 27, 2025 |
|
March 13, 2025 |
March 28, 2025 |
The Fund previously announced the following monthly distribution on August 29, 2024:
Amount of Distribution |
Ex-Date |
Record Date |
Payable Date |
|
November 12, 2024 |
November 12, 2024 |
November 27, 2024 |
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 provides this estimate of the sources of the distributions:
Distribution Estimates |
November 2024 (MTD) |
Fiscal Year-to-Date (YTD) (1) |
||||
(Sources) |
Per Share Amount |
Percentage of Current Distribution |
Per Share Amount |
Percentage of Current Distribution |
||
Net Investment Income |
$ |
0.000 |
|
$ |
0.022 |
|
Net Realized Short-Term Capital Gains |
|
- |
|
|
- |
|
Net Realized Long-Term Capital Gains |
|
- |
|
|
- |
|
Return of Capital (or other Capital Source) |
|
0.050 |
|
|
0.578 |
|
Total Distribution |
$ |
0.050 |
|
$ |
0.600 |
|
(1) |
Fiscal year started December 1, 2023. |
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 net asset value (NAV) and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.
October 31, 2024 |
|
Average Annual Total Return on NAV for the 5-year period (2) |
|
Annualized Current Distribution Rate (3) |
|
Fiscal YTD Cumulative Total Return on NAV (4) |
|
Fiscal YTD Cumulative Distribution Rate (5) |
|
(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) |
Annualized Current Distribution Rate is the current distribution rate annualized as a percentage of the Fund's NAV at month end. |
|
(4) |
Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund's NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions. |
|
(5) |
Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal 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 for tax purposes 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 you a Form 1099-DIV for the calendar year that will tell you what 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 adviser and Duff & Phelps Investment Management Co. and Newfleet Asset Management are the subadvisers to the Fund.
For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of 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 premium or discount to their NAV. For more information about the 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 bottom of this press release.
About Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. pursues investment strategies with exceptional depth of resources and expertise. With more than 35 years of experience managing investment portfolios, Duff & Phelps has earned a reputation as a leader in investing in global listed infrastructure, global listed real estate, clean energy, and diversified real assets in institutional separate accounts and open- and closed-end funds. For more information, visit dpimc.com.
About Newfleet Asset Management
Newfleet Asset Management provides comprehensive fixed income portfolio management in multiple strategies. The Newfleet Multi-Sector Strategies team that manages the Virtus Total Return Fund Inc. employs active sector rotation and disciplined risk management in portfolio construction, avoiding interest rate bets, and remaining duration neutral to each strategy’s stated benchmark. 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, Inc.
Virtus Investment Partners (NYSE: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.
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For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Total Return Fund Inc.
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