Jan. 27, 2012
/PRNewswire/ -- The Cushing® MLP Total Return Fund (NYSE: SRV) (the "Fund") declared a quarterly distribution of
per common share for the quarter ending
February 29, 2012
. The distributions will be payable on
March 9, 2012
to shareholders of record on
February 29, 2012
. The ex-date for the distributions is
February 27, 2012
. With the payment of this quarter's distributions, SRV shareholders will have realized aggregate distributions of
per share since inception.
It is anticipated but not certain that a majority of this distribution will be treated as a return of capital. The final determination of such amount will be made in early 2013, 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.
The Fund also announced that
Barry Y. Greenberg
, currently Chief Compliance Officer, was also named Secretary and
Judd B. Cryer
joined the portfolio management team responsible for the day-to-day management of the Fund's portfolio and was named Vice President. Mr. Cryer joined the Fund's investment adviser, Cushing® MLP Asset Management, LP ("Cushing MLP") in 2005. He is a Senior Vice President and Senior Research Analyst of Cushing MLP and has six years of experience in investment management and research analysis, and seven years of direct engineering and project management experience in various sectors of the energy industry. Prior to joining Cushing MLP, Mr. Cryer was a consulting engineer at Utility Engineering Corp. for three years, and served three years as a project manager with Koch John Zink Company. Mr. Cryer received his B.S. in Mechanical Engineering from
Oklahoma State University
and an M.B.A. in Finance from
Southern Methodist University
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.