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ZTR Buyback image

Zweig Total Return Fund, Inc. Buyback

OLI recorded this information on 9/19/2012

Company: Zweig Total Return Fund, Inc.
Buyback: ZTR buyback
Share Amount Authorized: 10%
Buyback Details: The Boards of Directors of The Zweig Fund, Inc. and The Zweig Total Return Fund, Inc have expanded each fund's stock repurchase program as part of the ongoing efforts to narrow each fund's current discount to its net asset value (NAV) and thereby continue to enhance shareholder value. Under the revised stock repurchase programs, each fund may repurchase up to 10 percent of its outstanding shares of common stock. It is anticipated that repurchases would be conducted at discount levels exceeding 8 percent of NAV, but management was granted the authority to use its discretion to repurchase shares at narrower discount levels at times to maximize benefits to shareholders. These expanded stock repurchase programs amend the previous programs, announced on March 13, 2012, that had authorized the repurchase of up to 5 percent of each fund's outstanding shares over a three-year period. The new programs will remain in effect until the repurchases are completed unless otherwise determined by the boards.

Virtus Total Return Fund is a closed-end management investment company. The Fund's investment objective is capital appreciation with current income as a secondary objective.
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ZTR — Key Stats (updated 52 minutes ago)
Company Name:  Virtus Total Return Fund Inc (New)
Stock buyback:  ZTR buyback
Website:  www.virtus.com
Sector:  Investment Companies & Venture Capital
 

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May 14, 2024  •  11:16 AM Eastern
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