VIRTUS CONVERTIBLE & INCOME FUND II ANNOUNCES QUARTERLY DISTRIBUTION: 5.500% SERIES A CUMULATIVE PREFERRED SHARES

Rhea-AI Summary

On Dec. 1, 2022, Virtus Convertible & Income Fund II (NYSE: NCZ) declared a $0.34375 cash distribution for Series A cumulative preferred shareholders, payable on December 30, 2022. Shareholders of record by December 12, 2022 will receive this amount. The Series A shares, trading under NCZ.PRA, have an annual dividend rate of $1.375 and were issued at $25.00 per share on September 11, 2018. They will be callable at any time after September 11, 2023.

HARTFORD, Conn., Dec. 1, 2022 /PRNewswire/ -- Virtus Convertible & Income Fund II (NYSE: NCZ), announced today that it has declared a $0.34375 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 NCZ PR A, are rated "A" by Fitch Ratings and have an annual dividend rate of $1.375 per share. The 4,360,000 Series A Cumulative Preferred Shares were issued September 11, 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 11, 2023.

About the Fund

Virtus Convertible & Income Fund II 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 II

FAQ

What is the cash distribution announced by Virtus Convertible & Income Fund II on December 1, 2022?

Virtus Convertible & Income Fund II announced a cash distribution of $0.34375 per share for Series A cumulative preferred shareholders, payable on December 30, 2022.

When will the cash distribution for NCZ.PRA be paid?

The cash distribution for NCZ.PRA will be paid on December 30, 2022.

What is the record date for the cash distribution of Virtus Convertible & Income Fund II?

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

What is the annual dividend rate for the Series A cumulative preferred shares of Virtus Convertible & Income Fund II?

The annual dividend rate for the Series A cumulative preferred shares is $1.375 per share.

When were the Series A cumulative preferred shares of Virtus Convertible & Income Fund II issued?

The Series A cumulative preferred shares were issued on September 11, 2018.