Virtus Stone Harbor Emerging Markets Total Income Fund Provides Update on Reorganization and Announces Monthly Distribution

Rhea-AI Summary

Virtus Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI) has announced its reorganization with and into Virtus Stone Harbor Emerging Markets Income Fund (NYSE: EDF), scheduled for December 15, 2023. The reorganization was delayed due to regulatory approval related to the transfer or sale of certain foreign assets, which has now been resolved. Additionally, EDI announced a monthly distribution of $0.07, with the board discontinuing the dividend reinvestment program in advance of the last monthly distribution before the reorganization. The fund intends to distribute the greater of $0.07 per share or all available net investment income and net short- and long-term capital gains before the reorganization date, with any supplemental distribution to be announced on December 5, 2023.

HARTFORD, Conn.--(BUSINESS WIRE)-- Virtus Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI) announced today its reorganization with and into Virtus Stone Harbor Emerging Markets Income Fund (NYSE: EDF) is currently scheduled as of the close of business of the New York Stock Exchange on December 15, 2023.

The reorganization had been delayed pending regulatory approval related to the transfer or sale of certain foreign assets, which has since been resolved. The reorganized fund will retain the EDF ticker symbol and CUSIP 86164T107.

EDI also announced today the following monthly distribution:

Amount of Distribution	Ex-Date	Record Date	Payable Date
$0.07	December 7, 2023	December 8, 2023	December 13, 2023

EDI’s board of trustees has voted to discontinue the dividend reinvestment program in advance of the last monthly distribution prior to the reorganization, which means that the December distribution will be paid in cash only.

EDI intends to distribute on the dates noted above the greater of $0.07 per share or all available net investment income and net short- and long-term capital gains prior to the reorganization date, in accordance with requirements under the Internal Revenue Code of 1986, as amended. The amount of any supplemental distribution, if needed, will be announced on December 5, 2023.

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 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 Stone Harbor Emerging Markets Total Income Fund (EDI) is a non-diversified, closed-end management investment company that is managed by Stone Harbor Investment Partners. The Fund’s primary investment objective is to maximize total return, which consists of income and capital appreciation on its investments in emerging markets securities. There is no assurance that the Fund will achieve its investment objective.

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 most recent annual report, a copy of which may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.

About Stone Harbor
Stone Harbor Investment Partners is a global institutional fixed-income investment manager specializing in credit and asset allocation strategies. The firm manages institutional clients’ assets in a range of investment strategies including emerging markets debt, global high yield, bank loans, as well as multi-sector credit products including unconstrained and total return approaches. Stone Harbor Investment Partners is a division of Virtus Fixed Income Advisers, LLC, a registered investment adviser affiliated with Virtus Investment Partners. For more information, visit shipemd.com.

About Virtus Investment Partners, Inc.
Virtus Investment Partners (NASDAQ: 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/20231116719535/en/

For Further Information:

Shareholder Services

(866) 270-7788

closedendfunds@virtus.com

Source: Virtus Stone Harbor Emerging Markets Total Income Fund

FAQ

What is the reorganization of Virtus Stone Harbor Emerging Markets Total Income Fund with Virtus Stone Harbor Emerging Markets Income Fund?

The reorganization is scheduled for December 15, 2023, with EDI retaining the EDF ticker symbol and CUSIP 86164T107.

What is the monthly distribution announced by EDI?

EDI announced a monthly distribution of $0.07, payable on December 13, 2023, with the board discontinuing the dividend reinvestment program in advance of the last monthly distribution before the reorganization.

What will EDI distribute before the reorganization date?

EDI intends to distribute the greater of $0.07 per share or all available net investment income and net short- and long-term capital gains before the reorganization date, with any supplemental distribution to be announced on December 5, 2023.