Virtus Dividend, Interest & Premium Strategy Fund Announces Increase to Quarterly Distribution and Discloses Sources of Distribution – Section 19(a) Notice
Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) announced a 9% increase in its quarterly distribution from $0.280 to $0.305 per share, effective September 2024. This follows a previous increase in March 2024, resulting in a cumulative 23% increase this year. The new distribution represents an annual rate of approximately 9.5% based on market price and 8.3% based on NAV. The Fund aims to maintain consistent distributions through its Managed Distribution Plan, sourced from net investment income, realized capital gains, or a combination thereof. For September 2024, the distribution sources are estimated as 20.1% from net investment income, 43.1% from net realized long-term capital gains, and 36.8% from return of capital.
Il Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) ha annunciato un aumento del 9% nella sua distribuzione trimestrale, passando da $0.280 a $0.305 per azione, a partire da settembre 2024. Questo segue un precedente aumento avvenuto a marzo 2024, portando a un aumento cumulativo del 23% quest'anno. La nuova distribuzione rappresenta un tasso annuale di circa 9.5% basato sul prezzo di mercato e 8.3% basato sul NAV. Il Fondo mira a mantenere distribuzioni coerenti attraverso il suo Piano di Distribuzione Gestito, finanziato da reddito da investimenti netti, guadagni in conto capitale realizzati, o una combinazione di entrambi. Per settembre 2024, le fonti di distribuzione sono stimate essere il 20.1% da reddito da investimenti netti, il 43.1% da guadagni di capitale a lungo termine realizzati, e il 36.8% da restituzione di capitale.
El Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) anunció un aumento del 9% en su distribución trimestral, pasando de $0.280 a $0.305 por acción, efectivo desde septiembre de 2024. Esto sigue a un aumento previo en marzo de 2024, lo que resulta en un aumento acumulativo del 23% este año. La nueva distribución representa una tasa anual de aproximadamente 9.5% basada en el precio de mercado y 8.3% basada en el NAV. El Fondo tiene como objetivo mantener distribuciones consistentes a través de su Plan de Distribución Administrado, financiado por ingresos netos de inversión, ganancias de capital realizadas, o una combinación de ambos. Para septiembre de 2024, se estima que las fuentes de distribución sean el 20.1% de ingresos netos de inversión, el 43.1% de ganancias de capital a largo plazo realizadas, y el 36.8% de devolución de capital.
버추스 배당금, 이자 및 프리미엄 전략 펀드 (NYSE: NFJ)는 분기 배당금을 9% 인상하여 $0.280에서 $0.305 주당으로 조정할 것이라고 발표하였습니다. 이는 2024년 3월에 있었던 이전 인상에 이어 발생한 것이며, 올해 누적 23% 인상입니다. 새로운 배당금은 대략 시장 가격 기준으로 9.5% 및 NAV 기준으로 8.3%의 연간 비율을 나타냅니다. 이 펀드는 순투자 소득, 실현된 자본 이익 또는 두 가지의 조합에서 나오는 관리 배분 계획을 통해 일관된 배분을 유지하는 것을 목표로 합니다. 2024년 9월을 위해 분배 출처는 순투자 소득에서 20.1%, 실현된 장기 자본 이익에서 43.1%, 자본 반환에서 36.8%로 예상됩니다.
Le Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) a annoncé une augmentation de 9% de sa distribution trimestrielle, passant de $0.280 à $0.305 par action, à compter de septembre 2024. Ceci fait suite à une augmentation précédente en mars 2024, entraînant une augmentation cumulative de 23% cette année. La nouvelle distribution représente un taux annuel d'environ 9,5% basé sur le prix du marché et 8,3% basé sur le NAV. Le Fonds vise à maintenir des distributions cohérentes grâce à son Plan de Distribution Géré, financé par des revenus d'investissement nets, des gains en capital réalisés, ou une combinaison des deux. Pour septembre 2024, les sources de distribution sont estimées à 20,1% des revenus d'investissement nets, 43,1% des gains en capital à long terme réalisés et 36,8% de retour de capital.
Der Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) hat eine 9%ige Erhöhung seiner vierteljährlichen Ausschüttung von $0.280 auf $0.305 pro Aktie angekündigt, die ab September 2024 in Kraft tritt. Dies folgt einer vorherigen Erhöhung im März 2024, was zu einer kumulierten Erhöhung von 23% in diesem Jahr führt. Die neue Ausschüttung entspricht einer jährlichen Rate von etwa 9,5% basierend auf dem Marktpreis und 8,3% basierend auf dem NAV. Der Fonds hat sich zum Ziel gesetzt, durch seinen Managed Distribution Plan, der aus Nettoinvestitionseinkommen, realisierten Kapitalgewinnen oder einer Kombination hiervon stammt, konsistente Ausschüttungen aufrechtzuerhalten. Für September 2024 werden die Ausschüttungsquellen auf 20,1% aus Nettoinvestitionseinkommen, 43,1% aus realisierten langfristigen Kapitalgewinnen und 36,8% aus Kapitalrückzahlung geschätzt.
- Quarterly distribution increased by 9% to $0.305 per share
- Cumulative distribution increase of 23% in 2024
- New distribution rate represents 9.5% annual yield based on market price
- 5-year average annual total return on NAV of 7.73%
- Fiscal YTD cumulative total return on NAV of 6.24%
- 36.8% of the September 2024 distribution estimated to be return of capital
- Fund has distributed more than its income and capital gains
- Potential return of shareholder's capital if aggregate net investment income and realized gains are less than distribution level
Ticker |
New Distribution Amount |
Ex-Date |
Record Date |
Payable Date |
NFJ |
|
September 13, 2024 |
September 13, 2024 |
September 26, 2024 |
The Fund previously increased its quarterly distribution by
This new distribution rate represents a per annum rate of approximately
Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholder's capital. You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s Managed Distribution Plan.
The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.
The Fund provides this estimate of the sources of its distributions:
Distribution Estimates |
September 2024 (QTD) |
Fiscal Year-to-Date
|
||||
(Sources) |
Per Share Amount |
Percentage of Current Distribution |
Per Share Amount |
Percentage of Current Distribution |
||
Net Investment Income |
$ |
0.061 |
|
$ |
0.150 |
|
Net Realized Short-Term Capital Gains |
$ |
- |
|
$ |
0.082 |
|
Net Realized Long-Term Capital Gains |
$ |
0.132 |
|
$ |
0.521 |
|
Return of Capital (or other Capital Source) |
$ |
0.112 |
|
$ |
0.112 |
|
Total Distribution |
$ |
0.305 |
|
$ |
0.865 |
|
(1) Fiscal year started February 1, 2024. |
||||||
Information regarding the Fund’s performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund’s net asset value (NAV) and not the market price of the Fund’s shares. Performance figures are not meant to represent individual shareholder performance.
July 31, 2024 |
|
Average Annual Total Return on NAV for the 5-year period (2) |
|
Annualized Current Distribution Rate (3) |
|
Fiscal YTD Cumulative Total Return on NAV (4) |
|
Fiscal YTD Cumulative Distribution Rate (5) |
|
(2) |
Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund’s NAV and reinvestment of all distributions. |
(3) |
Annualized Current Distribution Rate is the current distribution rate annualized as a percentage of the Fund's NAV at month end. |
(4) |
Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund's NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions. |
(5) |
Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions expected to be paid from the first day of the fiscal year through the next calendar quarter end as a percentage of the Fund's NAV at month end. |
The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.
About the Fund
Virtus Dividend, Interest & Premium Strategy Fund is a diversified closed-end fund that seeks current income and gains, with long-term capital appreciation as a secondary objective. The Fund will generally invest approximately
For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of 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.
About Virtus Investment Partners, Inc.
Virtus Investment Partners (NYSE: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240829128995/en/
For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Dividend, Interest and Premium Strategy Fund
FAQ
What is the new quarterly distribution amount for Virtus Dividend, Interest & Premium Strategy Fund (NFJ)?
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