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06-01-2004, 11:07 AM
The Zweig Total Return Fund, Inc. Authorizes Declaration of a Distribution Under New Cash and Stock Policy
Tuesday, June 1, 2004 11:38 AM
- BusinessWire
NEW YORK, Jun 1, 2004 (BUSINESS WIRE) -- The Zweig Total Return Fund, Inc. (NYSE, PCX: ZTR), announced its monthly distribution, payable on June 24, 2004, to shareholders of record as of June 11, 2004 (ex date: June 9, 2004). The distribution will be the first under the new fixed distribution policy adopted by the Fund's board of directors in April, and provides for a distribution equal to 10% of net asset value on an annualized basis consisting of 7% cash and 3% ZTR stock.
The June distribution will consist of cash in the amount of $0.033 per share, and ZTR stock in the amount of .0025 per share (for every 1,000 shares of ZTR stock owned, 2.5 new shares will be received).
The board believes that the combination cash and stock distribution will provide enhanced value to shareholders and serve their long-term interests.
The Zweig Total Return Fund, Inc. is a closed-end fund with an objective to seek the highest total return, consisting of capital appreciation and current income, consistent with the preservation of capital.
SOURCE: The Zweig Total Return Fund, Inc.
Tuesday, June 1, 2004 11:38 AM
- BusinessWire
NEW YORK, Jun 1, 2004 (BUSINESS WIRE) -- The Zweig Total Return Fund, Inc. (NYSE, PCX: ZTR), announced its monthly distribution, payable on June 24, 2004, to shareholders of record as of June 11, 2004 (ex date: June 9, 2004). The distribution will be the first under the new fixed distribution policy adopted by the Fund's board of directors in April, and provides for a distribution equal to 10% of net asset value on an annualized basis consisting of 7% cash and 3% ZTR stock.
The June distribution will consist of cash in the amount of $0.033 per share, and ZTR stock in the amount of .0025 per share (for every 1,000 shares of ZTR stock owned, 2.5 new shares will be received).
The board believes that the combination cash and stock distribution will provide enhanced value to shareholders and serve their long-term interests.
The Zweig Total Return Fund, Inc. is a closed-end fund with an objective to seek the highest total return, consisting of capital appreciation and current income, consistent with the preservation of capital.
SOURCE: The Zweig Total Return Fund, Inc.