The Zweig Total Return Fund, Inc. announces an Equity Buyback for 5% of its issued and outstanding shares of common stock.
August 22, 2016 at 09:30 am IST
Share
The Zweig Total Return Fund, Inc. announces a share repurchase program. Under the offer, the company will repurchase up to 5% of its issued and outstanding shares of common stock. The share will be repurchased for cash at a price per share equal to 98% of the net asset value per Share as of the close of regular trading on the New York Stock Exchange on December 23, 2016. The repurchased share will be retired. The Offer is being extended to all Stockholders of the Fund and is not conditioned on any minimum number of Shares being tendered. None of Fund’s board of directors, the executive officers of the fund, intends to participate in the offer. The fund expressly reserves the right, in its sole discretion, at any time or from time to time, to extend the period of time during which the offer is open. If the amount of repurchase requests exceeds the number of shares the company seeks to repurchase, it will repurchase shares on a pro rata basis. The tender offer will commence on November 25, 2016 and terminate at December 23, 2016, unless extended.
On November 25, 2016, the company commenced the Tender Offer.
Computershare Trust Company, N.A. acted as the Depositary Bank to the offer.
Virtus Total Return Fund Inc. (the Fund) is a closed-end, diversified management investment company. The Fund's investment objective is capital appreciation, with current income as a secondary objective. The Fund invests approximately 60% of its total assets in equity securities, managed by Duff & Phelps Investment Management Co. The Fund invests 40% in fixed income, managed by Newfleet Asset Management, LLC. Its products include mutual funds, retail separate accounts, closed-end funds, variable insurance funds, exchange-traded funds (ETFs), undertakings for the collective investment in transferable securities (UCITS) and CollegeAccess 529. The Fund invests in consumer discretionary, financials, healthcare, industrials, consumer staples, telecommunication services, energy, information technology, materials and utility sectors. The Fund's investment adviser is Virtus Investment Advisers, Inc.
VIRTUS GLOBAL DIVIDEND & INCOME FUND INC. 
