Virtus Total Return Fund Inc. Announces New Distribution Information
Virtus Total Return Fund Inc. Announces Monthly Distribution
Virtus Total Return Fund Inc. (NYSE: ZTR) has disclosed its latest monthly distribution updates, part of its ongoing commitment to provide shareholders with transparency regarding income and performance. The Fund operates under a Managed Distribution Plan, aiming to sustain consistent distribution levels. These distributions may derive from net investment income, realized capital gains, or a combination of both.
Details of the Monthly Distribution
The recently announced distribution amounts to $0.05 per share. Shareholders should note that distributions occur based on specific dates and are essential for sustained investment returns. The ex-dividend date is September 13, 2024, which means shareholders must own the shares before this date to receive the distribution. Similarly, the record date is also September 13, 2024, and payments will be issued on September 26, 2024.
Understanding Managed Distribution Plans
Under the Managed Distribution Plan, the objective is to provide shareholders with a steady stream of income while managing risks associated with investment performance. Importantly, while the Fund seeks to maintain these distributions, any shortfall in net investment income or realized capital gains will be compensated from the Fund's assets, which effectively could constitute a return of shareholders’ capital.
Impact of Returns of Capital
A significant aspect of this distribution announcement is that a portion may be classified as a return of capital. This return indicates that some funds originally invested in the Fund are being returned to investors, rather than solely being derived from the Fund's active investment income. It's crucial for investors to comprehend that such a return does not necessarily reflect a poor investment performance.
Breakdown of Distribution Sources
The Fund has projected estimates concerning the sources of these distributions. Here’s a snapshot of the anticipated composition for September 2024 and the fiscal year to date (YTD):
- Net Investment Income: A minor portion, as no net investment income is anticipated for the current month.
- Net Realized Gains: There are no estimated short-term or long-term capital gains for this distribution period.
- Return of Capital: It is estimated that 100% of the distribution will be sourced from returns of capital, emphasizing the nature of the current financial alignments.
Fund Performance Overview
The performance metrics of Virtus Total Return Fund are essential for gauging investment success. Instances of performance reporting are crucial for current and potential investors. As of the latest evaluation, the Fund's annualized current distribution rate stands at 8.80%. The Fund also showcases a 5-year average annual total return on NAV of 4.19% and a cumulative total return of 18.12% for the fiscal year to date.
Understanding Fund Performance Figures
The reported figures reflect the challenges and opportunities inherent in managing a diversified closed-end fund. They portray how the Fund is navigating the investment landscape, balancing risk and opportunity. Look for ongoing updates to make informed investment decisions.
Distribution Estimates Summary
As the Fund continues its operations, understanding the estimates surrounding distributions becomes vital. Remember, these figures represent estimates and may shift with the Fund's investment performance throughout the fiscal year. Investors will also receive a Form 1099-DIV for tax reporting purposes at year-end, detailing distributions meant for federal income tax obligations.
About Virtus Total Return Fund Inc.
Virtus Total Return Fund Inc. is a diversified closed-end fund with a focus on capital appreciation while income generation forms a secondary goal. The Fund is managed by Virtus Investment Advisers, Inc., with contributions from subadvisers such as Duff & Phelps Investment Management Co. and Newfleet Asset Management. This collaboration enriches the Fund’s investment strategies and fund management techniques.
Contact Information and Further Inquiries
For more insights regarding Virtus Total Return Fund or specific inquiries, investors can connect with shareholder services at (866) 270-7788.
Frequently Asked Questions
What does the latest distribution amount to?
The latest distribution announced by Virtus Total Return Fund Inc. is $0.05 per share.
When is the ex-dividend date?
The ex-dividend date for this distribution is September 13, 2024.
How is the Fund managing distributions?
The Fund aims to maintain steady distributions under its Managed Distribution Plan, drawing from investment income and capital gains.
What portion of the distribution may be a return of capital?
It is estimated that 100% of the September distribution will be classified as a return of capital.
Where can investors find more information on the Fund?
Investors can contact shareholder services or visit Virtus Total Return Fund’s official website for more insights.
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Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
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