2008-12-03 15:24:03 -
www.macquarie.com/mgu - Macquarie Global Infrastructure Total Return Fund Inc. (NYSE: MGU) (the "Fund") declared today its regular quarterly distribution for the period ending December 31, 2008 of $0.25 per share.
Based on the Fund"s net asset value ("NAV") of $13.64 and New York Stock Exchange closing share price of $9.34 on December 2, 2008, the $0.25
per share distribution is equal to an annualized distribution rate of 7.33% at NAV and 10.71% at market price, respectively.
While the Fund"s distribution policy aims to provide shareholders with a relatively stable cash flow by investing in equity and equity like securities issued by US and non-US issuers that primarily own or operate infrastructure assets ("Infrastructure Issuers"), the Fund"s Board of Directors decided it was prudent to reduce the quarterly dividend in light of the current economic climate.
Mr. Justin Lannen, Co-Portfolio Manager of the Fund, said: "We believe it is appropriate to decrease the Fund"s distribution due to the impact of the overall global equity market conditions on the Fund this year. The decrease allows the Fund to preserve its capital, helping the Fund to be positioned for the slower growth environment and benefit from the long-term valuation opportunities in global infrastructure securities that have been created in the current market. The operational performance of the infrastructure assets owned and/or operated by the Infrastructure Issuers held in the Fund has generally met our expectations. However, the performance of the listed securities has largely been negative this year due to the severe dislocation in credit markets and the economic growth slowdown."
A portion of the distributions may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2008, including the percentage of qualified dividend income, will be made by the Fund after December 31, 2008.
This distribution will be payable on December 31, 2008 to shareholders of record on December 12, 2008, with an ex-dividend date of December 10, 2008.
About the Macquarie Global Infrastructure Total Return Fund Inc.
Macquarie Global Infrastructure Total Return Fund Inc., a non-diversified closed-end fund, is listed on the NYSE.
The Fund"s investment adviser is Macquarie Capital Investment Management LLC, which is a part of Macquarie Funds Group and a wholly-owned, indirect subsidiary of Macquarie Group Limited.
Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original costs. An investor should consider investment objectives, risks, charges and expenses carefully before investing. Forward-looking statements are based on information that is available on the date hereof, and neither the Investment Adviser nor any other person affiliated with the Investment Adviser has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.
Investments in the Fund are not deposits with or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 ("MBL?) nor any Macquarie Group company and are subject to investment risk, including possible delays in repayment and loss of income and principal invested. Neither MBL nor any other member company of the Macquarie Group guarantees the performance of the Fund or the repayment of capital from the Fund or any particular rate of return.
Investor/Broker Enquiries:
Macquarie Global Infrastructure Total Return Fund Inc.
1-800-910-1434
mgu-questions@macquarie.com
www.macquarie.com/mgu
or
Media Inquiries:
Macquarie Group
Paula Chirhart, 212-231-1239
Corporate Communications
