The Zweig Fund, Inc. Discloses Sources of Distribution -- Section 19A Notice
July 08 2009 - 11:09AM
Marketwired
The Board of Directors of The Zweig Fund, Inc. (NYSE: ZF) declared
a distribution of $0.089 per share to shareholders of record on
July 8, 2009, payable July 27, 2009. 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:
Distribution Estimates July 2009 (QTD) Year-to-date (YTD) (1)
------------------------- -------------------------
Percentage Percentage
Per Share of Current Per Share of Current
(Sources) Amount Distribution Amount Distribution
------------ ----------- ------------ -----------
Net Investment Income $ 0.006 7.2% $ 0.014 8.4%
------------ ----------- ------------ -----------
Net Realized Short-Term
Capital Gains - 0.0% - 0.0%
------------ ----------- ------------ -----------
Net Realized Long-Term
Capital Gains - 0.0% - 0.0%
------------ ----------- ------------ -----------
Return of Capital (or
other Capital Source) 0.083 92.8% 0.150 91.6%
------------ ----------- ------------ -----------
Total Distribution $ 0.089 100.0% $ 0.164 100.0%
------------ ----------- ------------ -----------
(1) YTD February 1, 2009 to January 11, 2010. (The distribution paid on
January 12, 2009 was reportable for tax on Form 1099 in 2008)
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.
Average Annual Total Return on NAV for the 5-year period ended June
30, 2009 (2) 1.33%
------
Current Fiscal YTD Annualized Distribution Rate (3) 9.19%
------
YTD Cumulative Total Return on NAV (4) 4.58%
------
YTD Cumulative Distribution Rate (5) 4.60%
------
(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 as of
June 30, 2009.
(4) YTD Cumulative Total Return on NAV is the percentage change in the
Fund's NAV from January 1, 2009 to June 30, 2009, including
distributions paid and assuming reinvestment of those distributions.
(5) YTD Cumulative Distribution Rate is the dollar value of distributions
from January 1, 2009 to June 30, 2009 as a percentage of the Fund's NAV
as of June 30, 2009.
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 or visit us on the web at www.virtus.com.
ZF Cusip: 989834106
For Further Information: Zweig Funds Shareholder Services (800)
272-2700 Patricia Baronowski The Altman Group (212) 400-2604
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