$$$$$$$$$$ CORNERSTONE PROGRESSIVE RETURN FUND $$$$$$$$$$
The Fund makes monthly distributions to shareholders at a rate that may include periodic distributions of its net income and net capital gains, ("Net Earnings"), or from return-of-capital. If, for any fiscal year where total cash distributions exceeded Net Earnings (the "Excess"), the Excess would decrease the Fund's total assets and, as a result, would have the likely effect of increasing the Fund's expense ratio. There is a risk that the total Net Earnings from the Fund's portfolio would not be great enough to offset the amount of cash distributions paid to Fund shareholders. If this were to be the case, the Fund's assets would be depleted, and there is no guarantee that the Fund would be able to replace the assets. In addition, in order to make such distributions, the Fund may have to sell a portion of its investment portfolio at a time when independent investment judgment might not dictate such action. Furthermore, such assets used to make distributions will not be available for investment pursuant to the Fund's investment objective.
Cornerstone Advisors, Inc. (the "Adviser") believes that there are significant opportunities available through investment in closed-end funds. In addition to holding closed-end funds that invest substantially all of their assets in equity securities, the Adviser may also choose to take advantage of situations in funds that invest in fixed income or other investment categories. Closed-end funds, with their broadly diversified holdings, enhance diversification within the Fund's portfolio.
Investing in other investment companies involves substantially the same risks as investing directly in the underlying instruments, but the total return on such investments at the investment company level is reduced by the operating expenses and fees of such other investment companies, including advisory fees. To the extent the Fund invests its assets in investment company securities, those assets will be subject to the risks of the purchased investment company's portfolio securities, and a shareholder in the Fund will bear not only his proportionate share of the expenses of the Fund, but also, indirectly the expenses of the purchased investment company. There can be no assurance that the investment objective of any investment company in which the Fund invests will be achieved.
Cornerstone Progressive Return Fund is traded on the NYSE Amex LLC under the trading symbol "CFP." The Fund's Adviser serves as investment adviser to two other closed-end funds, Cornerstone Strategic Value Fund, Inc. (NYSE Amex: CLM) and Cornerstone Total Return Fund, Inc. (NYSE Amex: CRF).
Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price that is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund's investment objective, risks, charges and expenses. Please read the Fund's disclosure documents before investing.
In addition to historical information, this release contains forward-looking statements which may concern, among other things, domestic and foreign markets, industry and economic trends and developments and government regulation and their potential impact on the Fund's investment portfolio. These statements are subject to risks and uncertainties, including the factors set forth in the Fund's disclosure documents, filed with the SEC, and actual trends, developments and regulations in the future, and their impact on the Fund could be materially different from those projected, anticipated or implied. The Fund has no obligation to update or revise forward-looking statements.
Cornerstone Progressive Return Fund
Recent & Upcoming Dividend Payouts for CFP
| Amount || Ex-Dividend Date || Record Date || Pay Date || Declare Date || Qualified? [?] || Type |
| $0.0854 || 9/12/2013 || 9/16/2013 || 9/30/2013 || 5/17/2013 || Unknown || Regular |
| $0.0854 || 8/13/2013 || 8/15/2013 || 8/30/2013 || 5/17/2013 || Unknown || Regular |
| $0.0854 || 7/11/2013 || 7/15/2013 || 7/31/2013 || 5/17/2013 || Unknown || Regular |
| $0.0854 || 6/12/2013 || 6/14/2013 || 6/28/2013 || 2/8/2013 || Unknown || Regular |
Risk of distribution reduction may be high with CFP in the opinion of this moderator (bar1080). I'm neither long nor short in CFP. I recommend not buying it. Material on this page is for informational purposes only. The author is not an investment professional. Consult your investment advisor and company filings for more information. Other moderators may differ from my views.