Virtus Total Return Fund Inc. Discloses Sources of Distribution – Section 19(a) Notice
Virtus Total Return Fund Inc. (NYSE: ZTR) has announced a monthly distribution of $0.05 per share, payable on September 26, 2024. The Fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the Fund estimates that it has distributed more than its income and capital gains, indicating that a portion of the distribution may be a return of capital.
For September 2024, 100% of the distribution is estimated to be a return of capital. The Fund's 5-year average annual total return on NAV is 4.19%, with an annualized current distribution rate of 8.80%. The fiscal YTD cumulative total return on NAV is 18.12%, with a cumulative distribution rate of 6.60%.
Virtus Total Return Fund Inc. (NYSE: ZTR) ha annunciato una distribuzione mensile di $0.05 per azione, pagabile il 26 settembre 2024. Il Fondo opera secondo un Piano di Distribuzione Gestita, con l'obiettivo di mantenere livelli di distribuzione costanti. Tuttavia, il Fondo stima di aver distribuito più del proprio reddito e dei guadagni in capitale, indicando che una parte della distribuzione potrebbe essere un rimborso di capitale.
Per settembre 2024, si stima che il 100% della distribuzione sia un rimborso di capitale. Il ritorno totale medio annuo su NAV del Fondo negli ultimi 5 anni è di 4.19%, con un tasso di distribuzione annualizzato corrente del 8.80%. Il ritorno totale cumulativo su NAV dall'inizio dell'anno fiscale è del 18.12%, con un tasso di distribuzione cumulativa del 6.60%.
Virtus Total Return Fund Inc. (NYSE: ZTR) ha anunciado una distribución mensual de $0.05 por acción, pagadera el 26 de septiembre de 2024. El Fondo opera bajo un Plan de Distribución Gestionada, con el objetivo de mantener niveles de distribución consistentes. Sin embargo, el Fondo estima que ha distribuido más de sus ingresos y ganancias de capital, indicando que una parte de la distribución puede ser un retorno de capital.
Para septiembre de 2024, se estima que el 100% de la distribución sea un retorno de capital. El rendimiento total promedio anual sobre NAV del Fondo en los últimos 5 años es de 4.19%, con una tasa de distribución anualizada actual del 8.80%. El rendimiento total acumulado sobre NAV en el año fiscal hasta la fecha es de 18.12%, con una tasa de distribución acumulativa del 6.60%.
Virtus Total Return Fund Inc. (NYSE: ZTR)는 2024년 9월 26일에 지급되는 $0.05의 월 배당금을 발표했습니다. 이 펀드는 분배 관리 계획에 따라 운영되며, 일관된 분배 수준을 유지하는 것을 목표로 하고 있습니다. 그러나 펀드는 수익 및 자본 이득보다 더 많은 금액을 분배했으며, 이는 분배의 일부가 자본 환급일 수 있음을 나타냅니다.
2024년 9월의 경우 100%의 분배가 자본 환급으로 추정됩니다. 펀드의 지난 5년간 NAV에 대한 평균 연간 총 수익률은 4.19%이며, 현재의 연간화된 분배율은 8.80%입니다. 회계 연도 시작 이후 NAV의 누적 총 수익률은 18.12%이며, 누적 분배율은 6.60%입니다.
Virtus Total Return Fund Inc. (NYSE: ZTR) a annoncé une distribution mensuelle de $0.05 par action, payable le 26 septembre 2024. Le Fonds fonctionne selon un Plan de Distribution Géré, visant à maintenir des niveaux de distribution constants. Cependant, le Fonds estime avoir distribué plus de ses revenus et gains en capital, ce qui indique qu'une partie de la distribution pourrait être un remboursement de capital.
Pour septembre 2024, 100% de la distribution est estimée être un remboursement de capital. Le rendement total moyen annuel du Fonds sur NAV sur 5 ans est de 4.19%, avec un taux de distribution annualisé actuel de 8.80%. Le rendement total cumulé sur NAV depuis le début de l'année fiscale est de 18.12%, avec un taux de distribution cumulé de 6.60%.
Der Virtus Total Return Fund Inc. (NYSE: ZTR) hat eine monatliche Ausschüttung von $0.05 pro Aktie angekündigt, die am 26. September 2024 zahlbar ist. Der Fonds arbeitet gemäß einem verwalteten Ausschüttungsplan, der darauf abzielt, konstante Ausschüttungsniveaus aufrechtzuerhalten. Der Fonds schätzt jedoch, dass er mehr als sein Einkommen und Kapitalgewinne ausgeschüttet hat, was darauf hinweist, dass ein Teil der Ausschüttung eine Rückzahlung von Kapital sein könnte.
Für September 2024 wird geschätzt, dass 100% der Ausschüttung eine Rückzahlung von Kapital ist. Die durchschnittliche jährliche Gesamtverzinsung des Fonds auf NAV über 5 Jahre beträgt 4.19%, mit einem aktuellen annualisierten Ausschüttungssatz von 8.80%. Der kumulierte Gesamtertrag auf NAV seit Jahresbeginn beträgt 18.12%, mit einem kumulierten Ausschüttungssatz von 6.60%.
- The Fund's fiscal YTD cumulative total return on NAV is 18.12%, indicating strong performance
- The annualized current distribution rate is 8.80%, which may be attractive to income-seeking investors
- The Fund maintains a consistent monthly distribution of $0.05 per share
- 100% of the September 2024 distribution is estimated to be a return of capital, not from income or capital gains
- The Fund has distributed more than its income and capital gains, potentially eroding investor capital
- The 5-year average annual total return on NAV of 4.19% is relatively low compared to the distribution rate
Amount of Distribution |
Ex-Date |
Record Date |
Payable Date |
|
September 13, 2024 |
September 13, 2024 |
September 26, 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 provided this estimate of the sources of the distributions:
Distribution Estimates |
September 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 |
0.0 |
% |
$ |
0.022 |
4.4 |
% |
Net Realized Short-Term Capital Gains |
|
0.000 |
0.0 |
% |
|
- |
0.0 |
% |
Net Realized Long-Term Capital Gains |
|
0.000 |
0.0 |
% |
|
- |
0.0 |
% |
Return of Capital (or other Capital Source) |
|
0.050 |
100.0 |
% |
|
0.478 |
95.6 |
% |
Total Distribution |
$ |
0.050 |
100.0 |
% |
$ |
0.500 |
100.0 |
% |
(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.
August 30, 2024 |
|
|
Average Annual Total Return on NAV for the 5-year period (2) |
4.19 |
% |
Annualized Current Distribution Rate (3) |
8.80 |
% |
Fiscal YTD Cumulative Total Return on NAV (4) |
18.12 |
% |
Fiscal YTD Cumulative Distribution Rate (5) |
6.60 |
% |
(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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240924981607/en/
For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Total Return Fund Inc.
FAQ
What is the monthly distribution amount for Virtus Total Return Fund Inc. (ZTR)?
What is the source of ZTR's September 2024 distribution?
What is the 5-year average annual total return on NAV for ZTR?
What is ZTR's fiscal year-to-date cumulative total return on NAV as of August 30, 2024?
