NEW YORK, Dec. 21, 2015 /PRNewswire/ -- The Zweig Fund,
Inc. (NYSE: ZF) announced that its board of directors declared a
distribution payable January 11, 2016
to stockholders of record on December 31,
2015.
The Zweig Fund intends to distribute the greater of 1.5% (6%
annualized) of its net asset value on December 31, 2015 or all available net investment
income and net short and long term capital gains, in accordance
with requirements under the Internal Revenue Code of 1986, as
amended. Distributions may represent earnings from net investment
income, capital gains, or if necessary, return of capital. You
should not draw any conclusions about the Fund's investment
performance from the amount of this distribution or from the terms
of the Fund's Plan. The amount of the distribution will be
announced on January 4, 2016.
The following chart discloses information on the sources of the
most recent distribution:
|
Distribution
Estimates
|
September 2015
(QTD)
|
Year-to-date
(YTD) (1)
|
|
(Sources)
|
Per
Share
Amount
|
Percentage
of Current Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
|
Net Investment
Income
|
$ 0.026
|
11.7%
|
$ 0.091
|
12.4%
|
|
Net Realized Foreign
Currency Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized
Short-Term Capital Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized
Long-Term Capital Gains
|
0.196
|
88.3%
|
0.646
|
87.6%
|
|
Return of Capital (or
other Capital Source)
|
-
|
0.0%
|
-
|
0.0%
|
|
Total
Distribution
|
$
0.222
|
100.0%
|
$
0.737
|
100.0%
|
|
|
|
|
|
|
(1) YTD February 2,
2015 to January 11, 2016. (The distribution paid on January 9,
2015 was reportable for tax on Form 1099 in 2014)
|
Under the terms of the Fund's managed distribution policy, the
Fund seeks to maintain a consistent distribution level that may be
paid in part or in full from net investment income and realized
capital gains, or a combination thereof. Shareholders should note,
however, that if the Fund's aggregate net investment income and net
realized capital gains are less than the amount of the distribution
level, the difference will be distributed from the Fund's assets
and will constitute a return of the shareholder's capital. A return
of capital is not taxable; rather it reduces a shareholder's tax
basis in his or her shares of the Fund.
The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting
purposes. The actual amounts and sources of the amounts for tax
reporting purposes will depend upon the Fund's investment
experience during the remainder of its fiscal year and may be
subject to changes based on tax regulations. The Fund will send
shareholders a Form 1099-DIV for the calendar year that will tell
you how to report these distributions for federal income tax
purposes.
Information regarding the Fund's performance and distribution
rates is set forth below. Please note that all performance figures
are based on the Fund's NAV and not the market price of the Fund's
shares. Performance figures are not meant to represent individual
shareholder performance.
|
September 30,
2015
|
|
|
Average Annual
Total Return on NAV for the 5-year period ended this quarter
(2)
|
9.37%
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
7.01%
|
|
|
|
YTD Cumulative
Total Return on NAV (4)
|
-11.26%
|
|
YTD Cumulative
Distribution Rate (5)
|
5.26%
|
|
(2)
|
Average Annual Total
Return on NAV is the annual compound return for the five-year
period. It reflects the change in the Fund's NAV and
reinvestment of all distributions.
|
|
(3)
|
Current Fiscal YTD
Annualized Distribution Rate is the cumulative distribution rate
annualized as a percentage of the Fund's NAV at quarter
end.
|
|
(4)
|
YTD Cumulative Total
Return on NAV is the percentage change in the Fund's NAV from the
first day of the year to this quarter end, including distributions
paid and assuming reinvestment of those distributions.
|
|
(5)
|
YTD Cumulative
Distribution Rate is the dollar value of distributions from the
first day of the year to this quarter end as a percentage of the
Fund's NAV at quarter end.
|
Section 19(a) notices are posted on the Fund's website at:
ZF 19A Notices
The Zweig closed-end funds are advised by Zweig Advisers
LLC. For more information on the Fund, please contact
shareholder services at 800.272.2700, by email at zweig@virtus.com,
or visit us on the web at www.virtus.com.
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SOURCE The Zweig Fund, Inc.