Welcome to our dedicated page for Cornerstone Total Return Fund news (Ticker: CRF), a resource for investors and traders seeking the latest updates and insights on Cornerstone Total Return Fund stock.
Cornerstone Total Return Fund, Inc. reports developments for a closed-end, diversified management investment company registered under the Investment Company Act of 1940. The fund is organized as a New York corporation, trades on NYSE American under CRF, and is managed by Cornerstone Advisors, LLC.
Recurring news covers monthly distribution declarations, the fund’s NAV-based distribution policy, annual report filings on Form N-CSR with audited financial statements, and capital-structure actions such as rights offerings. Updates also address closed-end fund risks, including market risk and the possibility that shares trade above or below net asset value.
The Cornerstone Total Return Fund (CRF) announced a 1-for-3 rights offering for stockholders, contingent on SEC approval, with a record date of April 16, 2021. Stockholders will receive non-transferable rights to subscribe for 13,751,029 shares. Each right allows the purchase of one share at a price based on either 107% of the NAV or 80% of the market price. The subscription period starts after the record date, ending on May 14, 2021. Shares issued will not qualify for the May distribution. This offering is subject to regulatory approvals.
Cornerstone Strategic Value Fund (NYSE: CLM) has announced a 1-for-3 rights offering subject to SEC approval, with a record date of April 16, 2021. Stockholders will receive non-transferable rights to subscribe for 26,029,753 shares, with the subscription price determined based on the greater of 107% of net asset value or 80% of market price. The subscription period starts after the record date and ends on May 14, 2021. Shareholders exercising rights will not receive the May 2021 distribution for newly purchased shares. The offering is subject to customary regulatory approvals.
Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) have filed their annual reports on Form N-CSR with the SEC, featuring audited financial statements for the fiscal year ended December 31, 2020. These reports are accessible online and can be requested for free. Both funds are closed-end, diversified management companies registered under the Investment Company Act of 1940. Investors are reminded that past performance does not assure future results, and investments are subject to market risks, often trading at discounts from their net asset values.
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Cornerstone Strategic Value Fund (CLM) and Cornerstone Total Return Fund (CRF) announced monthly distribution rates for 2021, maintaining a stable policy with a 21% annualized distribution percentage of net asset value. Each fund will pay $0.1602 per share for CLM and $0.1537 for CRF from January to March 2021, with record dates prior to the payment dates. Distributions may include earnings, capital gains, or return-of-capital. Shareholders can opt for cash distributions or reinvest through a dividend reinvestment plan.