CRF - Cornerstone Funds Announce Continuing Monthly Distributions and Change in March 2024 Payable Date | Benzinga
NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Cornerstone Strategic Value Fund, Inc. (NYSE:CLM) (CUSIP: 21924B302) and Cornerstone Total Return Fund, Inc. (NYSE:CRF) (CUSIP: 21924U300), (individually the "Fund" or, collectively, the "Funds"), each a closed-end management investment company, announced that in keeping with each Fund's previously adopted monthly distribution policy, each Fund is declaring the following distributions.
| Record Date |
| Payable Date |
| Per Share |
| CLM |
| April 15, 2024 |
| April 30, 2024 |
| $0.1086 |
| CLM |
| May 15, 2024 |
| May 31, 2024 |
| $0.1086 |
| CLM |
| June 14, 2024 |
| June 28, 2024 |
| $0.1086 |
| CRF |
| April 15, 2024 |
| April 30, 2024 |
| $0.1037 |
| CRF |
| May 15, 2024 |
| May 31, 2024 |
| $0.1037 |
| CRF |
| June 14, 2024 |
| June 28, 2024 |
| $0.1037 |
In addition, the March 2024 monthly distribution payable date has been changed to March 28, 2024. The record date of March 15, 2024 and the per share amounts previously reported are unchanged.
Each Fund's distribution policy provides for the resetting of the monthly distribution amount per share ("Distribution Amount") annually, based on each Fund's net asset value on the last business day of October and the annualized distribution percentage approved by the respective Board of Directors (individually the "Board", or collectively, the "Boards").
Each Board believes each Fund's distribution policy maintains a stable, high rate of distribution. These distributions are not tied to each Fund's investment income or capital gains and do not represent yield or investment return on each Fund's portfolio. The Distribution Amount from one calendar year to the next will increase or decrease based on the change in each Fund's ...