Virtus Diversified Income & Convertible Fund Discloses Sources of Distribution – Section 19(a) Notice
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on August 29, 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. This doesn't necessarily reflect the fund's investment performance.
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%
Il Virtus Diversified Income & Convertible Fund (NYSE: ACV) ha annunciato una distribuzione mensile di $0.18 per azione, che sarà pagata il 29 agosto 2024. Il fondo opera secondo un Piano di Distribuzione Gestito, con l'obiettivo di mantenere livelli coerenti di distribuzione. Tuttavia, l'attuale distribuzione è stimata come 100% restituzione di capitale, poiché il fondo ha distribuito più del suo reddito e dei guadagni in capitale. Questo non riflette necessariamente le performance d'investimento del fondo.
Metrice chiave di performance al 31 luglio 2024:
- Rendimento Annuale Totale Medio su NAV a 5 anni: 11.05%
- Tasso di Distribuzione Annualizzato Corrente: 10.00%
- Rendimento Totale Cumulativo su NAV dall'inizio dell'anno fiscale: 8.96%
- Tasso di Distribuzione Cumulativo dall'inizio dell'anno fiscale: 5.00%
El Virtus Diversified Income & Convertible Fund (NYSE: ACV) ha anunciado una distribución mensual de $0.18 por acción, que se pagará el 29 de agosto de 2024. El fondo opera bajo un Plan de Distribución Gestionado, con el objetivo de mantener niveles de distribución consistentes. Sin embargo, la distribución actual se estima como 100% retorno de capital, ya que el fondo ha distribuido más de sus ingresos y ganancias de capital. Esto no refleja necesariamente el rendimiento de inversión del fondo.
Métricas clave de rendimiento al 31 de julio de 2024:
- Retorno Total Anual Promedio sobre NAV a 5 años: 11.05%
- Tasa de Distribución Actual Anualizada: 10.00%
- Retorno Total Acumulado sobre NAV desde el inicio del año fiscal: 8.96%
- Tasa de Distribución Acumulada desde el inicio del año fiscal: 5.00%
Virtus Diversified Income & Convertible Fund (NYSE: ACV)는 주당 $0.18의 월 배당금을 발표하였으며, 2024년 8월 29일에 지급될 예정입니다. 이 펀드는 일정한 배당 수준을 유지하기 위한 관리 배당 계획 하에 운영됩니다. 그러나 현재 배당금은 100% 자본 환급으로 추정되며, 이는 펀드가 수익과 자본 이익보다 더 많은 금액을 분배했음을 나타냅니다. 이는 반드시 펀드의 투자 성과를 반영하지는 않습니다.
2024년 7월 31일 기준 주요 성과 지표:
- 5년 평균 연환산 총 수익률(NAV): 11.05%
- 현재 연환산 배당률: 10.00%
- 회계 연도 시작 이후 NAV의 누적 총 수익률: 8.96%
- 회계 연도 시작 이후 누적 배당률: 5.00%
Le Virtus Diversified Income & Convertible Fund (NYSE: ACV) a annoncé une distribution mensuelle de $0.18 par action, payable le 29 août 2024. Le fonds fonctionne selon un Plan de Distribution Gérée, 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 gains en capital. Cela ne reflète pas nécessairement les performances d'investissement du fonds.
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%
- Retour 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%
Der Virtus Diversified Income & Convertible Fund (NYSE: ACV) hat eine monatliche Ausschüttung von $0.18 pro Aktie angekündigt, die am 29. August 2024 zahlbar ist. Der Fonds arbeitet unter einem verwalteten Ausschüttungsplan, der darauf abzielt, konsistente Ausschüttungsniveaus aufrechtzuerhalten. Die aktuelle Ausschüttung wird jedoch als 100% Kapitalrückzahlungen geschätzt, da der Fonds mehr verteilt hat als seine Einkünfte und Kapitalgewinne. Dies spiegelt nicht unbedingt die Anlageperformance des Fonds wider.
Wichtige Leistungskennzahlen zum 31. Juli 2024:
- Jährliche Durchschnittsrendite der letzten 5 Jahre auf NAV: 11.05%
- Aktuelle annualisierte Ausschüttungsquote: 10.00%
- Kumulative Gesamtrendite auf NAV seit Jahresanfang: 8.96%
- Kumulative Ausschüttungsrate seit Jahresanfang: 5.00%
- 5-year Average Annual Total Return on NAV of 11.05% indicates strong long-term performance
- Annualized Current Distribution Rate of 10.00% offers attractive income potential for investors
- Fiscal YTD Cumulative Total Return on NAV of 8.96% shows positive performance in the current fiscal year
- 100% of the current distribution is estimated to be return of capital, potentially eroding investors' principal
- The fund has distributed more than its income and capital gains, which may not be sustainable long-term
Ticker |
Amount of Distribution |
Ex-Date |
Record Date |
Payable Date |
ACV |
|
August 12, 2024 |
August 12, 2024 |
August 29, 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 provides this estimate of the sources of its distributions:
Distribution Estimates |
August 2024 (MTD) |
Fiscal Year-to-Date (YTD) (1) |
||||
(Sources) |
Per Share Amount |
Percentage of Current Distribution |
Per Share Amount |
Percentage of Current Distribution |
||
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/20240826109785/en/
For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Diversified Income & Convertible Fund
FAQ
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