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Virtus Convertible & Income Fund II (symbol: NCZ) is a diversified, closed-end management investment company. Its primary objective is to deliver a total return through a blend of capital appreciation and high current income. The fund achieves this by strategically investing in convertible securities, as well as other income-generating assets.
Operated under the umbrella of Virtus Investment Partners, the fund benefits from the multi-manager asset management business model. This structure comprises various affiliated managers, each with their own distinct investment style and autonomous investment process, ensuring a diversified approach to asset management.
The fund's portfolio encompasses a wide range of sector investments, including healthcare services, media, oil and gas, and consumable fuels, among others. This diversification helps in mitigating risks and optimizing returns, aligning with the fund's objective to balance growth and income.
Virtus Investment Partners prides itself on its core values of integrity, quality, and strength—traits that translate into their investment strategies and client interactions. They are committed to the success of their clients, both individuals, and institutions, providing robust investment management products and services.
Recent achievements and current projects of Virtus Convertible & Income Fund II highlight their continuous effort to maximize investor returns. Their proactive management and adaptive strategies allow them to navigate the complexities of the financial markets effectively.
With a solid financial condition and strong partnerships, Virtus Convertible & Income Fund II aims to maintain its reputation as a reliable investment vehicle. The fund's performance is regularly updated, providing investors with the latest data and insights to make informed decisions.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a quarterly cash distribution of $0.34375 per share for its Series A Cumulative Preferred Shares. The distribution is payable on December 31, 2024, to shareholders of record as of December 12, 2024. The preferred shares, trading under NCZ PR A, are rated 'A' by Fitch Ratings with an annual dividend rate of $1.375 per share. Originally issued at $25.00 per share in September 2018, the 4,360,000 preferred shares are now callable at the liquidation value of $25.00 plus accrued dividends.
Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced a 1-for-4 reverse stock split effective February 10, 2025. The funds will maintain their trading symbols but receive new CUSIPs. Shareholders will be paid cash for fractional shares while maintaining the same percentage ownership. The boards expect the split to result in higher per-share market prices, potentially broadening the investor base and improving stock liquidity. Monthly distributions will continue with adjusted rates: NCV's distribution will increase from $0.034 to $0.136, and NCZ's from $0.030 to $0.120 after the split.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a $0.34375 per share cash distribution for its Series A cumulative preferred shareholders. The distribution is payable on September 30, 2024, to shareholders of record on September 13, 2024. The Series A Cumulative Preferred Shares, trading under the symbol NCZ PR A, are rated "A" by Fitch Ratings and offer an annual dividend rate of $1.375 per share. These shares were initially issued on September 11, 2018, at $25.00 per share and pay quarterly distributions. The current distribution covers the accrual period from July 1, 2024, through September 30, 2024. Notably, the Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.
Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) have announced their upcoming monthly distributions for common shares. NCV will distribute $0.034 per share on September 26, October 30, and November 27, 2024. NCZ will distribute $0.030 per share on the same dates. The ex-dates and record dates for these distributions are set for September 13, October 11, and November 12, 2024, respectively. It's important to note that these distribution amounts are estimates and may be subject to changes based on the funds' investment performance and tax regulations.
Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced monthly distributions for July and August 2024. NCV will distribute $0.034 per share on July 30 and August 29, 2024. NCZ will distribute $0.030 per share on the same dates. The reported amounts are estimates and not for tax purposes, with actual distributions dependent on the funds' investment performance and tax regulations. Investors will receive Form 1099-DIV for accurate federal income tax reporting.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a quarterly cash distribution of $0.34375 per share for its Series A Cumulative Preferred Shares. The distribution is payable on June 28, 2024, to shareholders of record on June 13, 2024. The Series A shares, rated 'A' by Fitch Ratings, have an annual dividend rate of $1.375 per share and were issued on September 11, 2018, at $25.00 per share.
The shares are now callable at the liquidation value of $25.00 per share plus accrued dividends. This distribution covers the period from April 1, 2024, to June 30, 2024, and the total issuance includes 4,360,000 shares.
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