HARTFORD, Conn., Sept. 30, 2013 /PRNewswire/ -- Virtus Total
Return Fund (NYSE: DCA) today announced that it will increase its
distribution for the third quarter of 2013 by 20 percent to
$0.06 per share from the prior
quarterly distribution of $0.05 per
share.
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)
The increased distribution represents an annualized distribution
rate of 6.1 percent based on the closing market price of
$3.94 on September 30, 2013 and reflects the income and
gains generated by its investment strategy.
The third quarter distribution is payable on October 18, 2013, to shareholders of record on
October 11, 2013 (ex-date
October 9, 2013).
The Virtus Total Return Fund is a diversified closed-end fund
with an objective of total return, consisting of both capital
appreciation and current income, as determined by the fund's
investment adviser, Virtus Investment Advisers, Inc. The fund has
been managed since December 9, 2011
by Duff & Phelps Investment Management Co. and Newfleet Asset
Management, LLC, both affiliated managers of Virtus Investment
Partners.
Distributions may represent earnings from net investment income,
excess gains taxable as ordinary income or, if necessary, return of
capital. Any portion of the fund's distributions that is a return
of capital does not necessarily reflect the fund's investment
performance and should not be confused with "yield" or "income."
The tax status of the fund's distributions is determined at the end
of the taxable year.
For more information on the fund, contact shareholder services
at (866) 270-7788, by email at closedendfunds@virtus.com, or
through the closed end fund section on the web at
www.virtus.com.
About Duff & Phelps Investment Management Co.
Duff
& Phelps Investment Management is a leader in investing in real
estate investment trusts, infrastructure, and utility companies and
in developing and managing focused investment strategies for
specialized clients, including nuclear decommissioning
trusts. For more information about Duff & Phelps, visit
www.dpimc.com.
About Newfleet Asset Management
Newfleet Asset
Management provides comprehensive fixed income portfolio management
in multiple strategies. Newfleet Multi-Sector Strategies, which
manages assets in the Virtus Total Return Fund, leverages the
knowledge and skill of a team of investment professionals with
expertise in every sector of the bond market, including evolving,
specialized, and out-of-favor sectors. The team employs active
sector rotation and disciplined risk management to portfolio
construction, avoiding interest rate bets and remaining duration
neutral to each strategy's stated benchmark.
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive
partnership of boutique investment managers singularly committed to
the long-term success of individual and institutional
investors. For more information visit www.virtus.com.
SOURCE Virtus Total Return Fund