Cornerstone Total Return Stock Price, News & Analysis

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have submitted their annual reports for the fiscal year ending December 31, 2022, to the SEC. These reports include audited financial statements and are available online at their respective websites. Both funds operate as closed-end, diversified management companies, and are registered under the Investment Company Act of 1940. Investors should be aware that the shares may trade at a discount to their net asset value and should carefully consider investment risks. Past performance does not guarantee future results, and the funds are subject to market risks.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have announced monthly distributions for 2023, maintaining a policy that reflects 21% of each fund's net asset value. CLM and CRF will distribute $0.1228 and $0.1173 per share, respectively, for January through March 2023. These distributions are not a reflection of investment returns and may include a return of capital, affecting the basis of shares. There are risks associated with these distributions, including potential declines in total assets if investment returns do not meet payout levels.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) announced monthly distributions as part of their ongoing distribution policy. Both funds will maintain a distribution percentage of 21% for 2023, unchanged from the prior year. Upcoming distributions are set at $0.1808 per share for CLM and $0.1734 for CRF from October through December 2022. The actual monthly distribution amounts for 2023 will be determined based on each Fund's net asset value at the end of October 2022.

On June 10, 2022, Cornerstone Total Return Fund (NYSE American: CRF) completed its one-for-three rights offering, which was over-subscribed, receiving requests for approximately $410 million in shares. The subscription price was set at $7.95, lower than the initially estimated price of $9.69. The Fund anticipates issuing shares around June 16, 2022. Newly issued shares will not participate in the Fund's June distribution. As a closed-end, diversified management investment company, CRF is registered with the SEC under the Investment Company Act of 1940.

Cornerstone Total Return Fund (CRF) has announced the resumption of its suspended rights offering effective May 23, 2022, with an expiration date of June 10, 2022. The offering was previously halted due to a significant decline in net asset value, falling from $8.65 to $7.45. Stockholders will receive one non-transferable right for each share held as of April 18, 2022, allowing them to purchase new shares at a price based on the higher of 112% of net asset value or 65% of the market price. Subscription requests made before the suspension are canceled.

Cornerstone Total Return Fund (NYSE American: CRF) has announced the suspension of its rights offering due to a decline in net asset value, which fell over 10% from $8.65 to $7.45 between April 8 and May 13, 2022. Shareholders can cancel their rights exercise until it resumes, with no assurance it will be reinstated. The decision is aligned with the Fund's regulatory commitments and will be evaluated based on market conditions. The Fund remains committed to overseeing its operating environment while adhering to SEC regulations.

Cornerstone Total Return Fund (NYSE American: CRF) announced a 1-for-3 rights offering for its stockholders, effective April 18, 2022. Stockholders will receive non-transferable rights to subscribe for up to 21,352,201 shares of common stock. Each holder will get one right per share owned. The subscription price will be determined based on either 112% of net asset value or 65% of the market price at expiration, whichever is greater. The subscription period ends on May 20, 2022, with shares issued within 15 days after the record date.

Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have filed their annual reports on Form N-CSR with the SEC, detailing audited financial statements for the fiscal year ended December 31, 2021. These reports are accessible on their respective websites and available for free upon request. Both funds are closed-end diversified management companies registered under the Investment Company Act of 1940. Investors are reminded that past performance does not guarantee future results and that closed-end funds may trade at discounts to net asset value, carrying inherent market risks.