Cornerstone Total Return Fund, Inc. Announces Distributions.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 23, 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 Total Return Fund, Inc. (the "Fund") (AMEX AMEX See: American Stock Exchange : CRF CRF abbr. chronic renal failure CRF Chronic renal failure ), a closed-end management investment company, today announced that in keeping with its previously announced distribution policy, the Fund is declaring the following distributions:
Record Date Payable Date Per Share
March 15, 2004 March 31, 2004 $0.1760
April 15, 2004 April 30, 2004 $0.1760
May 14, 2004 May 21, 2004 $0.1760
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. The Board also announced that it elected William A. Clark to serve as a Director of the Fund. Cornerstone Total Return 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 "CRF". The Fund's investment adviser is Cornerstone Advisors, Inc. |
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