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Virtus Convertible & Income Fund (NCV) is a diversified, closed-end management investment company. The fund's core objective is to deliver a total return through a mix of capital appreciation and high current income. To meet this aim, NCV invests in a diverse portfolio of domestic convertible securities and non-convertible income-producing securities.
One of the unique aspects of NCV's investment strategy is its focus on a broad spectrum of sectors. Its portfolio includes investments in Software, the Internet, and the Commercial Services sector through Convertible Bonds and Notes. Additionally, it holds investments in the Media, Oil, Gas & Consumable Fuels, and Entertainment sectors via Corporate Bonds and Notes.
Virtus Convertible & Income Fund is managed by Virtus Investment Partners, which is renowned for its integrity, quality, and strength. Virtus operates a multi-manager asset management business comprising several individual affiliated managers, each with a distinct investment style, autonomous investment process, and individual brand. This ensures a robust and diversified approach to managing the fund, aligning with the company's commitment to client success.
Recent achievements and ongoing projects further solidify NCV's position as a reliable investment option. While the fund continues to adapt and innovate within its investment strategies, its consistent performance underscores its stability and growth potential in the financial market.
By understanding the intrinsic value of each investment and maintaining a balance between risk and reward, Virtus Convertible & Income Fund remains committed to delivering on its promise of high current income and capital appreciation. Investors seeking a diversified and expertly managed investment option will find NCV to be a compelling choice.
Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) announced the conclusion of their voluntary tender offers for auction rate preferred shares, with nearly all shares tendered: 99.7% for NCV and 99.2% for NCZ. Payment for the tendered shares will occur on November 2, 2022. The funds have now met the asset coverage ratio necessary for dividend payments, leading to the rescheduled monthly distribution of $0.0375 per common share for NCZ, originally set for October 3, 2022, to be paid on November 4, 2022.
On October 3, 2022, Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) announced voluntary tender offers for up to 100% of their outstanding auction rate preferred shares (ARPS). The tender price is set at 97.95% of the ARPS liquidation preference of $25,000 per share, totaling $24,487.50 per share, plus any unpaid dividends. The offer commenced at 12:01 a.m. Eastern Time and will expire on November 1, 2022. The funds will file a tender offer statement with the SEC, and more details will be made available to ARPS holders.
Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) announced a voluntary tender offer for up to 100% of their outstanding auction rate preferred shares (ARPS), starting on September 30, 2022. The offer price is set at 97.95% of the ARPS liquidation preference of $25,000, plus accrued unpaid dividends. The offers will last at least 20 business days and will be detailed in documents filed with the SEC. This announcement does not constitute a recommendation or solicitation for selling ARPS. Further details will be shared with ARPS holders via email and through the SEC's website.
Virtus Convertible & Income Fund (NYSE: NCV) declared a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on September 30, 2022. Shareholders of record on September 12, 2022 will receive this distribution, which covers the period from July 1, 2022 to September 30, 2022. The preferred shares have an annual dividend rate of $1.40625 and were initially issued at $25.00 per share. They will be callable at their liquidation value after September 20, 2023.
Virtus AllianzGI Convertible & Income Fund (NCV) declared a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on June 30, 2022. Shareholders of record on June 13, 2022 will receive this payment. The Series A shares, trading under NCV.PRA, are rated 'A' by Fitch Ratings and have an annual dividend rate of $1.40625 per share. These shares were issued at $25.00 per share and are callable post a five-year non-call period ending September 20, 2023.
Virtus AllianzGI Convertible & Income Fund (NYSE: NCV) has declared a cash distribution of $0.3515625 per share for its Series A cumulative preferred shareholders, payable on March 31, 2022. Shareholders of record by March 11, 2022 will receive this payment, representing earnings accrued from January 1, 2022 to March 31, 2022. The fund's preferred shares, rated 'A' by Fitch Ratings, have an annual dividend rate of $1.40625 per share. Following a non-call period until September 20, 2023, shares can be called at their liquidation value of $25.00.
Virtus AllianzGI Convertible & Income Fund (NCV) has declared a cash distribution of $0.3515625 per share for its Series A cumulative preferred shareholders. This payment will be made on December 31, 2021, to shareholders of record as of December 13, 2021. The Series A shares, trading under the symbol NCV PR A, were issued at $25.00 each and carry an annual dividend rate of $1.40625. The fund's distributions are subject to changes based on the fund's investment performance and tax regulations.
Virtus AllianzGI Convertible & Income Fund (NYSE: NCV) announced a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on September 30, 2021. The record date for this payment is September 13, 2021. The Series A shares, rated 'A' by Fitch, have an annual dividend rate of $1.40625 and were issued at $25.00 per share. Additionally, these shares will be callable after a five-year period ending September 20, 2023. Distributions' actual amounts may vary based on the fund's investment performance.
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