Cornerstone Strategic Value Fund Announces Distributions.Business Editors NEW YORK--(BUSINESS WIRE)--May 25, 2004 Cornerstone cornerstone Ceremonial building block, dated or otherwise inscribed, usually placed in an outer wall of a building to commemorate its dedication. Often the stone is hollowed out to contain newspapers, photographs, or other documents reflecting current customs, with a view to Strategic Value Fund, Inc. (AMEX AMEX See: American Stock Exchange :CLM CLM - Career Limiting Move ), (the "Fund"), a closed-end management investment company, today announced that in keeping with the previously announced distribution policies, and in light of the merger considerations taking place at the Fund's Annual Meeting of Shareholders on June 10, 2004, the Fund is declaring the following distributions:
Record Date Payable Date Per Share
June 9, 2004 June 16, 2004 $0.0870
July 15, 2004 July 30, 2004 $0.0870
August 13, 2004 August 31, 2004 $0.0870
The monthly distributions are in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the 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. The 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. It is anticipated that a substantial portion of the Fund's distributions made during this calendar year may represent return of capital. 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 in late January 2005 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. is 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 symbol Trading symbol See: Ticker symbol "CLM". The Fund's investment adviser is Cornerstone Advisors, Inc. |
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