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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Virtus Convertible and Income Fund | NYSE:NCV | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.02 | -0.58% | 3.45 | 3.50 | 3.38 | 3.47 | 654,012 | 21:00:03 |
From Jan 2023 to Jan 2025
Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced that each fund will adjust the monthly distribution of its respective common shares effective with the April distribution payable May 1, 2023:
Virtus Convertible & Income Fund:
Ticker
Current Distribution Amount
New Distribution Amount
Ex-Date
Record Date
Payable Date
NCV
$0.0425
$0.034
April 12, 2023
April 13, 2023
May 1, 2023
NCV
$0.0425
$0.034
May 10, 2023
May 11, 2023
June 1, 2023
NCV
$0.0425
$0.034
June 9, 2023
June 12, 2023
July 3, 2023
Virtus Convertible & Income Fund II:
Ticker
Current Distribution Amount
New Distribution Amount
Ex-Date
Record Date
Payable Date
NCZ
$0.0375
$0.03
April 12, 2023
April 13, 2023
May 1, 2023
NCZ
$0.0375
$0.03
May 10, 2023
May 11, 2023
June 1, 2023
NCZ
$0.0375
$0.03
June 9, 2023
June 12, 2023
July 3, 2023
The 20% decrease in each fund’s monthly distribution reflects the increase in each fund’s respective cost of leverage, current and expected earnings, and the overall market environment.
The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.
About the Funds
Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) each have an investment objective to provide total return through a combination of capital appreciation and high current income. Virtus Investment Advisers, Inc. is the investment adviser and Voya Investment Management is the subadviser to each fund. For more information on the funds, contact Shareholder Services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the closed-end funds section of virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about each fund’s investment objective and risks, please see the fund’s annual report. A copy of the most recent annual report may be obtained free of charge by contacting Shareholder Services.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230303005050/en/
For Further Information: Shareholder Services (866) 270-7788 closedendfunds@virtus.com
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