Virtus Convertible & Income 2024 Target Term Fund Announces Special Year-End Distribution

Rhea-AI Summary

Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has announced a special year-end distribution of $0.0909 per share in long-term capital gains, in addition to its regular monthly distribution. This distribution is mandated by federal tax requirements and will be effective on December 29, 2022. The record date is set for December 30, 2022, with payments to be made on January 10, 2023. The Fund aims to provide a high level of income and return at least $9.835 per share by September 1, 2024.

Positive

• Special year-end distribution of $0.0909 per share signifies strong performance and commitment to shareholders.
• Fund aims to return at least $9.835 per share by September 1, 2024, indicating a solid investment objective.

Negative

• None.

HARTFORD, Conn., Dec. 20, 2022 /PRNewswire/ -- Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH), announced the following special year-end distribution of long-term capital gains on its common shares. This special year-end distribution, which is in addition to the regular monthly distribution paid on its common shares, is being paid by the Fund pursuant to certain federal tax requirements.

Amount of Distribution	Ex-Date	Record Date	Payable Date
$0.0909 per share	December 29, 2022	December 30, 2022	January 10, 2023

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 Convertible & Income 2024 Target Term Fund's investment objectives are to provide a high level of income and to return at least $9.835 per common share (the original net asset value per common share of beneficial interest before deducting offering costs of $0.02 per share) to holders of common shares on or about September 1, 2024. Virtus Investment Advisers, Inc. is the investment adviser to the Fund and Voya Investment Management is its subadviser.

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 net asset value. 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.

 

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SOURCE Virtus Convertible & Income 2024 Target Term Fund

FAQ

What is the amount of the special distribution announced by CBH?

The special distribution announced by Virtus Convertible & Income 2024 Target Term Fund (CBH) is $0.0909 per share.

What are the key dates for the special distribution for CBH?

The special distribution for CBH will have an ex-date on December 29, 2022, record date on December 30, 2022, and payable date on January 10, 2023.

What is the investment objective of the Virtus Convertible & Income 2024 Target Term Fund (CBH)?

The investment objective of CBH is to provide a high level of income and return at least $9.835 per common share by September 1, 2024.

Are there risks associated with investing in CBH?

Yes, investing in CBH carries risks, including possible loss of principal and shares trading at a premium or discount to their net asset value.