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May 17, 2011 /PRNewswire/ -- Cushing® MLP Total Return Fund announces distributions and results of the Annual Meeting of Shareholders of The Cushing® MLP Total Return Fund (NYSE: SRV) held on
May 12, 2011.
The Cushing® MLP Total Return Fund (NYSE: SRV) (the "Fund") declared its quarterly distribution of
$0.225 per common share for the quarter ending
May 31, 2011. The distribution will be payable on
June 10, 2011 to shareholders of record on
June 1, 2011. The ex-date for the distribution is
May 27, 2011. With the payment of this quarter's distribution, Fund shareholders have realized aggregate distributions of
$3.84 per share since inception.
It is anticipated but not certain that a majority of the distributions for Fund shareholders will be treated as a return of capital. The final determination of such amount will be made in early 2012, after the end of the calendar year, when the Fund determines its earnings and profits for the year. The final tax status of the distribution may differ substantially from this preliminary information.
ANNUAL MEETING OF SHAREHOLDERS
Both resolutions proposed at the Annual Meeting of Shareholders of the Fund held on
May 12, 2011 were approved. Pursuant to the approvals,
Brian Bruce was re-elected to serve as a Class I Trustee of the Fund to hold office for a three-year term expiring at the 2014 Annual Meeting, and the Fund's Amended and Restated Agreement and Declaration of Trust is amended to restrict any person from purchasing or acquiring, without the prior approval of the Fund's Board of Trustees, any direct or indirect interest in the Fund's common shares, if such an acquisition would either (a) cause such a person to become a holder of more than 4.99% of the common shares of the Fund, or (b) increase the percentage of the Fund's shares owned by any such holder.
ABOUT THE FUND
The Cushing® MLP Total Return Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to obtain a high after-tax total return from a combination of capital appreciation and current income. No assurance can be given that the Fund's investment objective will be achieved. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in MLP investments.