NEW YORK, July 7, 2011 /PRNewswire/ -- The Board of
Directors of The Zweig Fund, Inc. (NYSE: ZF) declared a
distribution of $0.090 per share to
shareholders of record on July 11,
2011, payable July 18, 2011.
The Fund has a Managed Distribution Plan to pay 10 percent of
the Fund's net asset value ("NAV") on an annualized basis.
The Board believes that regular, fixed cash payouts will
enhance shareholder value and serve the long-term interests of
shareholders.
The following is a required Section 19A notice:
You should not draw any conclusions about the Fund's investment
performance from the amount of this distribution or from the terms
of the Fund's Managed Distribution Plan.
This notice discloses information on the sources of the
distribution as required by SEC Rule 19(a) of the Investment
Company Act of 1940 and the Fund's SEC Exemptive Order under
Section 19(b) as follows:
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Distribution
Estimates
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June 2011
(QTD)
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Year-to-date
(YTD) (1)
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(Sources)
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Per
Share
Amount
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Percentage
of
Current
Distribution
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Per
Share
Amount
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Percentage
of
Current
Distribution
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Net Investment Income
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$
0.001
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1.1%
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$
0.001
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0.5%
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Net Realized Short-Term Capital
Gains
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-
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0.0%
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-
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0.0%
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Net Realized Long-Term Capital
Gains
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-
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0.0%
|
-
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0.0%
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Return of Capital (or other
Capital Source)
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0.089
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98.9%
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0.183
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99.5%
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Total
Distribution
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$
0.090
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100.0%
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$
0.184
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100.0%
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(1) YTD February 1, 2011
to January 9, 2012. (The distribution paid on January 10, 2011 was
reportable for tax on Form 1099 in 2010)
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The Fund estimates that it has distributed more than its income
and net realized capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital
may occur, for example, when some or all of the money that you
invested in the Fund is paid back to you. A return of capital
distribution does not necessarily reflect the Fund's investment
performance and should not be confused with "yield" or
"income."
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 you 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.
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Average Annual Total Return on
NAV for the 5-year period ended June 30, 2011 (2)
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3.47%
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Current Fiscal YTD Annualized
Distribution Rate (3)
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10.03%
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YTD Cumulative Total Return on
NAV (4)
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4.14%
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YTD Cumulative Distribution Rate
(5)
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5.01%
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(2)
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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.
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(3)
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Current Fiscal YTD Annualized
Distribution Rate is the Cumulative Distribution Rate annualized as
a percentage of the Fund's NAV as of June 30, 2011.
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(4)
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YTD Cumulative Total Return on
NAV is the percentage change in the Fund's NAV from January 1, 2011
to June 30, 2011, including distributions paid and assuming
reinvestment of those distributions.
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(5)
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YTD Cumulative Distribution Rate
is the dollar value of distributions from January 1, 2011 to June
30, 2011 as a percentage of the Fund's NAV as of June 30,
2011.
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The Zweig Fund, Inc. is a closed-end fund with an investment
objective of increasing capital primarily through investment in
equity securities consistent with the preservation of capital and
reduction of risk as determined by the fund's investment adviser.
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.
ZF Cusip: 989834106
SOURCE The Zweig Fund, Inc.