Cornerstone Funds Announce Distributions.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Cornerstone Strategic Value Fund, Inc. (AMEX AMEX See: American Stock Exchange :CLM CLM - Career Limiting Move ) and Cornerstone Total Return Fund, Inc. (AMEX:CRF CRF abbr. chronic renal failure CRF Chronic renal failure ), (individually the "Fund" or, collectively, the "Funds"), each a closed-end management investment company, today announced that in keeping with the previously announced distribution policies, the Funds are declaring the following distributions. Record Date Payable Date Per Share CLM March 15, 2005 March 31, 2005 $0.0870 CLM April 15, 2005 April 29, 2005 $0.0870 CLM May 13, 2005 May 31, 2005 $0.0870 CRF March 15, 2005 March 31, 2005 $0.1760 CRF April 15, 2005 April 29, 2005 $0.1760 CRF May 13, 2005 May 31, 2005 $0.1760 The monthly distributions are in accordance with each Board of Directors' previously announced intention to maintain the total annual amount of fixed distributions at or above this level, regardless of current or future market conditions. Each Board remains convinced that shareholders are well served by a fixed-payout policy of regular distributions which provide liquidity and flexibility to individual shareholders in managing their investment in the Fund. To the extent that these distributions exceed the current earnings of the Fund, the balance will be generated from sales of portfolio securities held by the Fund, which will either be short-term or long-term capital gains Long-term capital gain A profit on the sale of a security or mutual fund share that has been held for more than one year. or a tax-free return of capital. Stockholders will have the option of reinvesting these distributions in additional shares of the Fund or receiving them in cash. To the extent such distributions are designated as return-of-capital distributions, they are not taxed as ordinary income dividends and are sometimes referred to as tax-free dividends or nontaxable distributions. A return-of-capital distribution reduces the cost basis of an investor's shares in the Fund. Stockholders can expect to receive tax reporting information for 2005 distributions in late January 2006 indicating the exact composition per share of the dividends and distributions received during the calendar year. Stockholders should consult their tax advisor A tax advisor is a financial expert especially trained in tax law. Some countries require tax advisors to verify the balance sheets of companies above a certain size. Individuals usually require tax advisors to minimize taxation, to avoid learning the details of tax law in for proper tax treatment of the Fund's distributions. Cornerstone Strategic Value Fund, Inc. and Cornerstone Total Return Fund, Inc., are each traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the trading symbols Trading symbol See: Ticker symbol "CLM" and "CRF", respectively. Each Fund's investment adviser is Cornerstone Advisors, Inc. |
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