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

Rhea-AI Summary

Virtus Convertible & Income Fund (NYSE: NCV) has declared a cash distribution of $0.3515625 per share for its Series A cumulative preferred shareholders. The distribution is payable on December 30, 2022, to shareholders of record by December 12, 2022. These preferred shares, rated 'A' by Fitch, have an annual dividend rate of $1.40625 and were issued at $25.00 per share. The shares will be callable after the non-call period ends on September 20, 2023.

Positive

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

Negative

• None.

HARTFORD, Conn., Dec. 1, 2022 /PRNewswire/ -- Virtus Convertible & Income Fund (NYSE: NCV), announced today that it has declared a $0.3515625 per share cash distribution payable on December 30, 2022 to Series A cumulative preferred shareholders of record on December 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 October 1, 2022 through December 31, 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 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 Fund

FAQ

What is the latest cash distribution for NCV shareholders?

The latest cash distribution for NCV shareholders is $0.3515625 per share, payable on December 30, 2022.

Who are the record shareholders for the NCV distribution?

The record shareholders for the NCV distribution are those who own shares as of December 12, 2022.

What is the annual dividend rate for NCV preferred shares?

The annual dividend rate for NCV preferred shares is $1.40625.

When can NCV preferred shares be called?

NCV preferred shares can be called after September 20, 2023, following the expiration of the five-year non-call period.