Virtus Diversified Income & Convertible Fund Announces Distributions
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced monthly distributions of $0.18 per share for September, October, and November 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains.
Key performance metrics as of July 31, 2024:
- 5-year Average Annual Total Return on NAV: 11.05%
- Annualized Current Distribution Rate: 10.00%
- Fiscal YTD Cumulative Total Return on NAV: 8.96%
- Fiscal YTD Cumulative Distribution Rate: 5.00%
Investors should note that return of capital distributions do not reflect the fund's investment performance and should not be confused with 'yield' or 'income'.
Il Virtus Diversified Income & Convertible Fund (NYSE: ACV) ha annunciato distribuzioni mensili di $0.18 per azione per settembre, ottobre e novembre 2024. Il fondo opera sotto un Piano di Distribuzione Gestita, con l'obiettivo di mantenere livelli di distribuzione coerenti. Tuttavia, la distribuzione attuale è stimata essere 100% restituzione di capitale, poiché il fondo ha distribuito più del suo reddito e delle plusvalenze.
Metriche chiave di performance al 31 luglio 2024:
- Rendimento totale medio annuo su NAV per 5 anni: 11.05%
- Aliquota di distribuzione annualizzata corrente: 10.00%
- Rendimento totale cumulativo su NAV dall'inizio dell'anno fiscale: 8.96%
- Aliquota di distribuzione cumulativa dall'inizio dell'anno fiscale: 5.00%
Gli investitori devono notare che le distribuzioni di restituzione di capitale non riflettono la performance degli investimenti del fondo e non devono essere confuse con 'rendimento' o 'reddito'.
El Virtus Diversified Income & Convertible Fund (NYSE: ACV) ha anunciado distribuciones mensuales de $0.18 por acción para septiembre, octubre y noviembre de 2024. El fondo opera bajo un Plan de Distribución Administrada, con el objetivo de mantener niveles de distribución consistentes. Sin embargo, la distribución actual se estima ser de 100% retorno de capital, ya que el fondo ha distribuido más de su ingreso y ganancias de capital.
Métricas clave de rendimiento al 31 de julio de 2024:
- Rendimiento total anual promedio sobre NAV de 5 años: 11.05%
- Tasa de distribución actual anualizada: 10.00%
- Rendimiento total acumulado sobre NAV desde el inicio del año fiscal: 8.96%
- Tasa de distribución acumulada desde el inicio del año fiscal: 5.00%
Los inversores deben tener en cuenta que las distribuciones de retorno de capital no reflejan el rendimiento de las inversiones del fondo y no deben confundirse con 'rendimiento' o 'ingreso'.
Virtus Diversified Income & Convertible Fund (NYSE: ACV)는 2024년 9월, 10월 및 11월에 대해 주당 $0.18의 월별 배당금을 발표했습니다. 이 펀드는 일관된 배당금 수준 유지를 목표로 하는 관리형 배당 계획 하에 운영됩니다. 하지만 현재 배당금은 자본의 100% 반환으로 추정되며, 이는 펀드가 수익과 자본 이익보다 더 많은 금액을 배당했기 때문입니다.
2024년 7월 31일 기준 주요 성과 지표:
- 5년 평균 연간 총 수익률(NAV 기준): 11.05%
- 연간 현재 배당률: 10.00%
- 회계 연도 현재 누적 NAV 총 수익률: 8.96%
- 회계 연도 현재 누적 배당률: 5.00%
투자자는 자본 반환 배당금이 펀드의 투자 성과를 반영하지 않으며 '수익' 또는 '소득'과 혼동해서는 안 된다는 점에 유의해야 합니다.
Le Virtus Diversified Income & Convertible Fund (NYSE: ACV) a annoncé des distributions mensuelles de $0.18 par action pour septembre, octobre et novembre 2024. Le fonds opère sous un Plan de Distribution Géré, visant à maintenir des niveaux de distribution cohérents. Cependant, la distribution actuelle est estimée à 100 % retour de capital, car le fonds a distribué plus que ses revenus et ses gains en capital.
Métriques clés de performance au 31 juillet 2024 :
- Rendement total annuel moyen sur NAV sur 5 ans : 11,05 %
- Taux de distribution actuel annualisé : 10,00 %
- Rendement total cumulé sur NAV depuis le début de l'année fiscale : 8,96 %
- Taux de distribution cumulé depuis le début de l'année fiscale : 5,00 %
Les investisseurs doivent noter que les distributions de retour de capital ne reflètent pas la performance d'investissement du fonds et ne doivent pas être confondues avec 'rendement' ou 'revenu'.
Der Virtus Diversified Income & Convertible Fund (NYSE: ACV) hat monatliche Ausschüttungen von 0,18 $ pro Aktie für September, Oktober und November 2024 angekündigt. Der Fonds arbeitet nach einem verwalteten Ausschüttungsplan, der darauf abzielt, konsistente Ausschüttungsniveaus aufrechtzuerhalten. Allerdings wird die aktuelle Ausschüttung auf 100% Rückzahlung des Kapitals geschätzt, da der Fonds mehr ausgezahlt hat, als er an Einkommen und Kapitalgewinnen erzielt hat.
Wichtige Leistungskennzahlen zum 31. Juli 2024:
- 5-Jahres-Durchschnittlicher Jahresgesamtreturn auf NAV: 11,05%
- Aktueller annualisierter Ausschüttungssatz: 10,00%
- Gesamtrückgabe auf NAV seit Beginn des Geschäftsjahres: 8,96%
- Gesamtausschüttungssatz seit Beginn des Geschäftsjahres: 5,00%
Investoren sollten beachten, dass Rückzahlungen von Kapital nicht die Investmentperformance des Fonds widerspiegeln und nicht mit 'Ertrag' oder 'Einkommen' verwechselt werden sollten.
- Consistent monthly distributions of $0.18 per share maintained
- Strong 5-year Average Annual Total Return on NAV of 11.05%
- High Annualized Current Distribution Rate of 10.00%
- Positive Fiscal YTD Cumulative Total Return on NAV of 8.96%
- 100% of current distribution estimated to be return of capital, not from income or capital gains
- Fund has distributed more than its income and capital gains, potentially eroding investor capital
Amount of Distribution |
Ex-Date |
Record Date |
Payable Date |
|
September 13, 2024 |
September 13, 2024 |
September 26, 2024 |
|
October 11, 2024 |
October 11, 2024 |
October 30, 2024 |
|
November 12, 2024 |
November 12, 2024 |
November 27, 2024 |
Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholder's capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.
The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.
The Fund previously provided this estimate of the sources of the distributions:
Distribution Estimates |
August 2024 (MTD) |
Fiscal Year-to-Date (YTD) (1) |
||||
(Sources) |
Per Share
|
Percentage
|
Per Share
|
Percentage
|
||
Net Investment Income |
$ |
- |
|
$ |
- |
|
Net Realized Short-Term Capital Gains |
|
- |
|
|
- |
|
Net Realized Long-Term Capital Gains |
|
- |
|
|
- |
|
Return of Capital (or other Capital Source) |
|
0.180 |
|
|
1.260 |
|
Total Distribution |
$ |
0.180 |
|
$ |
1.260 |
|
| (1) | Fiscal year started February 1, 2024. |
||||
Information regarding the Fund’s performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund’s net asset value (NAV) and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.
July 31, 2024 |
|
Average Annual Total Return on NAV for the 5-year period (2) |
|
Annualized Current Distribution Rate (3) |
|
Fiscal YTD Cumulative Total Return on NAV (4) |
|
Fiscal YTD Cumulative Distribution Rate (5) |
|
(2) |
Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions. |
(3) |
Annualized Current Distribution Rate is the current distribution rate annualized as a percentage of the Fund's NAV at month end. |
(4) |
Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund's NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions. |
(5) |
Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund's NAV at month end. |
The amounts and sources 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 you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.
About the Fund
Virtus Diversified Income & Convertible Fund is a diversified closed-end fund that seeks to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. The Fund strives to dynamically allocate across convertibles, equities, and income-producing securities. The Fund normally invests at least
For more information on the Fund, 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 NAV. For more information about the Fund’s investment objective and risks, please see the Fund’s annual report. A copy of the Fund’s most recent annual report may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.
About Virtus Investment Partners, Inc.
Virtus Investment Partners (NYSE: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240829558683/en/
For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Diversified Income & Convertible Fund
FAQ
What is the monthly distribution amount for Virtus Diversified Income & Convertible Fund (ACV) for September to November 2024?
What is the 5-year Average Annual Total Return on NAV for ACV as of July 31, 2024?
What percentage of ACV's current distribution is estimated to be return of capital?
When is the ex-date for ACV's September 2024 distribution?
