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Investor Relations

Virtus Closed-End Funds Announce Results of Joint Special Meetings of Shareholders

HARTFORD, Conn., Nov. 4, 2019 /PRNewswire/ -- The Boards of Directors of Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR), Virtus Total Return Fund Inc. (NYSE: ZF), and Duff & Phelps Select MLP and Midstream Energy Fund Inc. (NYSE: DSE), and the Board of Trustees of Virtus Global Multi-Sector Income Fund (NYSE: VGI) today announced the results of the joint special meetings of shareholders.

ZF and ZTR
At the joint special meeting of ZF and ZTR, shareholders of ZF approved the reorganization of ZF into ZTR, and shareholders of ZTR approved that fund's issuance of additional shares of common stock to effect the reorganization. In addition, shareholders of ZTR approved Duff & Phelps Investment Management Co., a current subadviser of ZF, as the subadviser of the equity portion of ZTR's portfolio.

As a result of this vote, shares of the reorganized fund, which will be named Virtus Total Return Fund Inc., will begin trading on Monday, November 18, under the ticker "ZTR" and CUSIP 92835W107. ZF will cease trading and dissolve as of the close of business on Friday, November 15.

Shareholders of ZTR also approved the election of Donald C. Burke and Sidney E. Harris as Class I directors; John R. Mallin as a Class II director; and Connie D. McDaniel and Geraldine M. McNamara as Class III directors. The directors will begin their terms effective January 1, 2020 for the remaining term of their respective classes, or until their successors have been duly elected and qualified.

The voting results are as follows:


For

Against

Abstain

Proposal 1 (ZF)

Approve the reorganization of ZF into ZTR

 

11,004,501.429

 

942,370.887

 

523,148.977

Proposal 2 (ZTR)

Approve the issuance of additional shares in connection with the reorganization

11,628,630.460

 

 

1,225,683.602

 

 

559,803.368

Proposal 3 (ZTR)

Approve the subadvisory agreement    between Virtus Investment Advisers, Inc., and Duff & Phelps Investment Management Co.

 

11,835,025.372

 

786,858.859

 

792,233.199









 

Proposal 4

Election of Five New Directors



ZTR




For

Withheld



Donald C. Burke

16,201,057.397

1,153,811.033



Sidney E. Harris

16,181,537.400

1,173,331.030



John R. Mallin

16,201,023.691

1,153,844.739



Connie D. McDaniel

16,169,993.916

1,184,874.514



Geraldine M. McNamara

16,165,929.975

1,188,938.455



 

DSE and VGI
At the joint special meeting of DSE and VGI, shareholders approved the election of Geraldine M. McNamara as a Class I director/trustee; Donald C. Burke, Sidney E. Harris and John R. Mallin as Class II directors/trustees; and Connie D. McDaniel as a Class III director/trustee. They will begin their terms effective January 1, 2020 for the remaining term of their respective classes, or until their successors have been duly elected and qualified.

The voting results are as follows:


                      DSE


                  VGI


For

Withheld

For

Withheld

 Donald C. Burke

23,717,952.601

1,305,059.400

9,162,205.453

737,920.000

 Sidney E. Harris

23,516,945.601

1,506,066.400

9,129,275.453

770,850.000

John R. Mallin

23,540,398.601

1,482,613.400

9,124,563.453

775,562.000

Connie D. McDaniel

23,744,918.601

1,278,093.400

9,144,867.453

755,258.000

Geraldine M. McNamara

23,828,432.601

1,194,579.400

9,108,977.453

791,148.000

 

For more information about the funds contact Shareholder Services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section on the web at www.virtus.com.

(PRNewsfoto/Virtus Funds)

 

SOURCE Virtus Investment Partners, Inc.

For further information: Joe Fazzino, Media Relations, (860) 263-4725, joe.fazzino@virtus.com; Jaime Doyle, Media Relations, (973) 944-8105, jdoyle@jconnelly.com