VIRTUS CONVERTIBLE & INCOME FUND ANNOUNCES QUARTERLY DISTRIBUTION: 5.625% SERIES A CUMULATIVE PREFERRED SHARES

Rhea-AI Summary

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.

Positive

• Declared cash distribution of $0.3515625 per share.
• Annual dividend rate of $1.40625 per share.
• Preferred shares rated 'A' by Fitch Ratings.

Negative

• None.

HARTFORD, Conn., Sept. 1, 2022 /PRNewswire/ -- Virtus Convertible & Income Fund (formerly known as Virtus AllianzGI Convertible & Income Fund) (NYSE: NCV), announced today that it has declared a $0.3515625 per share cash distribution payable on September 30, 2022 to Series A cumulative preferred shareholders of record on September 12, 2022.

The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCV PR A, are rated "A" by Fitch Ratings and have an annual dividend rate of $1.40625 per share. The 4,000,000 Series A Cumulative Preferred Shares were issued September 20, 2018 at $25.00 per share and pay distributions quarterly. This distribution represents the accrual period from July 1, 2022 through September 30, 2022. The Series A Cumulative Preferred Shares will be callable at any time at the liquidation value of $25.00 per share plus accrued dividends from and after the expiration of a five-year non-call period on September 20, 2023.

About the Fund

Virtus Convertible & Income Fund has an investment objective to provide total return through a combination of capital appreciation and high current income. Virtus Investment Advisers, Inc. is the investment adviser to the fund and Voya Investment Management is its subadviser.

For more information on this fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section on the web at 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 each 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 Fund

FAQ

What is the cash distribution amount for NCV shareholders?

The cash distribution amount for NCV shareholders is $0.3515625 per share.

When will the cash distribution for NCV be paid?

The cash distribution for NCV will be paid on September 30, 2022.

What is the record date for the NCV cash distribution?

The record date for the NCV cash distribution is September 12, 2022.

What is the annual dividend rate for NCV Series A preferred shares?

The annual dividend rate for NCV Series A preferred shares is $1.40625 per share.

When can NCV preferred shares be called?

NCV preferred shares can be called after September 20, 2023.