NEW YORK, June 26, 2012 /PRNewswire/ -- The Zweig Fund, Inc. (NYSE: ZF) and The Zweig Total Return Fund, Inc. (NYSE: ZTR) today announced that a 1-for-4 reverse stock split of the issued and outstanding shares of each fund will be effective as of the start of trading on June 27, 2012. The reverse stock split was among a set of actions, approved by each fund's board earlier this year, that are intended to enhance shareholder value. As a result of the reverse stock split, one new share will be issued for every four currently outstanding shares. The reverse stock split will result in a higher per share market price for each fund's common shares, and may benefit shareholders and the funds by reducing certain per-share transaction fees and other administrative costs, such as stock exchange listing fees. The funds will retain their trading symbols but have been assigned the following new CUSIP numbers, effective June 27, 2012: ZF: 989834205ZTR: 989837208 Shareholders will be paid cash for any fractional shares that may result from the reverse split, except for shareholders participating in the funds' Automatic Dividend Reinvestment and Cash Purchase Plan who will receive fractional shares. Each shareholder will hold the same percentage of the fund's outstanding common stock immediately following the reverse stock split as held immediately prior to the split, subject to adjustments for the intended sale of fractional shares resulting from the transaction. The funds will not issue new post-split share certificates. Current holders of certificates representing pre-split shares of the funds will receive non-certificated post-split shares, meaning their holdings will be reflected only in the funds' record books. Holders of certificates will not be able to trade their shares until they surrender their pre-split share certificates. However, they will continue to receive dividends or other distributions.