This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Virtus Total Return Fund Announces Increased Quarterly Distribution And Other Actions To Enhance Shareholder Value

HARTFORD, Conn., Feb. 3, 2014 /PRNewswire/ --  Virtus Total Return Fund (NYSE: DCA) today announced that it will increase its quarterly distribution and implement other actions intended to enhance shareholder value, including the adoption of a level distribution plan and changes to its investment strategy. The fund is undertaking these actions to provide a more attractive distribution rate, increase investment flexibility, and continue efforts to address the fund's current discount to its net asset value (NAV).

(Logo: http://photos.prnewswire.com/prnh/20130930/NE89128LOGO )

Effective with the first quarter of 2014, the fund will increase its distribution by 67 percent to $0.10 per share from the current quarterly distribution of $0.06 per share. This is the second time the fund has increased its distribution in the past five months; in September 2013, the fund increased its distribution by 20 percent to $0.06 per share from the prior quarterly distribution of $0.05 per share. The increased distribution to $0.10 per share represents an annualized distribution rate of 10.2 percent based on the closing market price of $3.94 on January 31, 2014. The first quarter distribution is payable on April 21, 2014 to shareholders of record as of April 11, 2014 (ex-date April 9, 2014).

Concurrent with the increase in the distribution, the fund will adopt a level distribution plan and seek to maintain a consistent distribution level of $0.10 per share. Although the fund will seek to maintain a consistent quarterly distribution level, the amount of future distributions is subject to change.

The fund also announced that it intends to implement an options overlay strategy that will include purchasing and selling puts and calls with the objective of generating additional income from premiums, while limiting potential losses.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs