NEW YORK, Dec. 30, 2015 /PRNewswire/ -- The Zweig Fund, Inc. (NYSE: ZF) announced it is restating its net asset value for December 29, 2015 from $15.27 per share to $15.05 per share. The NAV restatement is due to the processing of the $0.222 per share distribution as of an ex-dividend date December 29, 2015 rather than the intended date of January 6, 2016.
The December 21, 2015 press release declaring the distribution stated that "the Fund intends to distribute the greater of 1.5% (6% annualized) of its net asset value on December 31, 2015 or all available net investment income and net short and long term capital gains, in accordance with requirements under the Internal Revenue Code of 1986, as amended. The amount of the distribution will be announced on January 4, 2016." A press release will be issued on January 4, 2016 restating the December 29, 2015 distribution rate, if necessary. The record date of December 31, 2015 and payable date of January 11, 2016 remain unchanged and were the dates set forth in the December 21, 2015 press release declaring the distribution.
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 email@example.com, or visit us on the web at www.virtus.com.
SOURCE Zweig Advisers