Dividends & Buybacks · GlobeNewswire

Total Return Securities Fund Affirms Plan for Self-Tender Offer at 98% of NAV

SWZTotal Return Securities Fund

The Board of Total Return Securities Fund (NYSE: SWZ) affirmed its intention to authorize a self-tender offer to purchase at least 15% of the Fund’s outstanding shares at a price of at least 98% of net asset value per share. Additionally, the Board is contemplating authorizing a rights offering to stockholders to purchase additional common stock, primarily to limit any increase in the expense ratio resulting from a reduced asset base after the tender offer. The number of shares purchased in the self-tender is expected to be between 15% and 25% of post-rights offering outstanding shares. Total Return Securities Fund operates as an investment company.