Virtus Equity & Convertible Income Fund Announces Distributions and Discloses Sources of Distribution – Section 19(a) Notice
Virtus Equity & Convertible Income Fund (NYSE: NIE) has announced quarterly distributions of $0.50 per share, payable on December 30, 2024, and March 28, 2025. The Fund's distribution sources include 57.5% from net realized short-term capital gains and 42.5% from net realized long-term capital gains for the current quarter. The Fund's 5-year average annual total return on NAV is 11.67%, with a current annualized distribution rate of 7.96%. Year-to-date, the Fund has achieved a cumulative total return on NAV of 12.01%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) ha annunciato distribuzioni trimestrali di $0,50 per azione, che saranno pagabili il 30 dicembre 2024 e il 28 marzo 2025. Le fonti di distribuzione del Fondo includono il 57,5% da guadagni netti realizzati a breve termine e il 42,5% da guadagni netti realizzati a lungo termine per il trimestre attuale. Il rendimento totale annuo medio su NAV del Fondo negli ultimi 5 anni è 11,67%, con un tasso di distribuzione annualizzato attuale di 7,96%. Da inizio anno, il Fondo ha registrato un rendimento totale cumulativo su NAV del 12,01%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) ha anunciado distribuciones trimestrales de $0.50 por acción, pagaderas el 30 de diciembre de 2024 y el 28 de marzo de 2025. Las fuentes de distribución del Fondo incluyen el 57.5% de ganancias patrimoniales netas realizadas a corto plazo y el 42.5% de ganancias patrimoniales netas realizadas a largo plazo para el trimestre actual. El rendimiento total anual promedio del Fondo sobre NAV en los últimos 5 años es del 11.67%, con una tasa de distribución anualizada actual del 7.96%. Desde principios de año, el Fondo ha logrado un rendimiento total acumulado sobre NAV del 12.01%.
Virtus Equity & Convertible Income Fund (NYSE: NIE)는 주당 $0.50의 분기 배당금을 발표했으며, 이는 2024년 12월 30일과 2025년 3월 28일에 지급됩니다. 기금의 배당 배경에는 57.5%가 단기 순 실현 자본이득, 42.5%가 장기 순 실현 자본이득이 포함됩니다. 기금의 최근 5년간 순자산(NAV) 평균 연간 총 수익률은 11.67%이며, 현재 연간화된 배당률은 7.96%입니다. 연초 대비 기금은 12.01%의 누적 총 수익률을 달성했습니다.
Virtus Equity & Convertible Income Fund (NYSE: NIE) a annoncé des distributions trimestrielles de $0,50 par action, payables le 30 décembre 2024 et le 28 mars 2025. Les sources de distribution du Fonds incluent 57,5% de gains en capital nets réalisés à court terme et 42,5% de gains en capital nets réalisés à long terme pour le trimestre en cours. Le rendement total annuel moyen du Fonds sur le NAV au cours des 5 dernières années est de 11,67%, avec un taux de distribution annualisé actuel de 7,96%. Depuis le début de l'année, le Fonds a atteint un rendement total cumulé sur le NAV de 12,01%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) hat vierteljährliche Ausschüttungen von $0,50 pro Aktie angekündigt, zahlbar am 30. Dezember 2024 und am 28. März 2025. Die Ausschüttungsquellen des Fonds bestehen aus 57,5% aus realisierten kurzfristigen Kapitalgewinnen und 42,5% aus realisierten langfristigen Kapitalgewinnen für das aktuelle Quartal. Die durchschnittliche jährliche Gesamtrendite des Fonds auf NAV in den letzten 5 Jahren beträgt 11,67%, wobei der aktuelle annualisierte Ausschüttungssatz 7,96% beträgt. Seit Anfang des Jahres hat der Fonds eine kumulierte Gesamtrendite auf NAV von 12,01% erzielt.
- Strong 5-year average annual total return on NAV of 11.67%
- Solid YTD cumulative total return on NAV of 12.01%
- Consistent quarterly distribution of $0.50 per share maintained
- 23.2% of YTD distributions constitute return of capital, potentially reducing investment principal
- Low net investment income contribution (1.7%) to YTD distributions
Insights
This distribution announcement reveals strong performance metrics with an
The
Ticker |
Amount of Distribution |
Ex-Date/Record Date |
Payable Date |
NIE |
|
December 12, 2024 |
December 30, 2024 |
NIE |
|
March 13, 2025 |
March 28, 2025 |
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 |
December 2024 (QTD) |
Fiscal Year-to-Date (YTD) (1) |
||||||
(Sources) |
Per Share Amount |
Percentage of Current Distribution |
Per Share Amount |
Percentage of Current Distribution |
||||
Net Investment Income |
$ |
- |
0.0 |
% |
$ |
0.035 |
1.7 |
% |
Net Realized Short-Term Capital Gains |
$ |
0.288 |
57.5 |
% |
$ |
1.170 |
58.5 |
% |
Net Realized Long-Term Capital Gains |
$ |
0.212 |
42.5 |
% |
$ |
0.331 |
16.6 |
% |
Return of Capital (or other Capital Source) |
$ |
- |
0.0 |
% |
$ |
0.464 |
23.2 |
% |
Total Distribution |
$ |
0.500 |
100.0 |
% |
$ |
2.000 |
100.0 |
% |
(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.
October 31, 2024 |
|
|
Average Annual Total Return on NAV for the 5-year period (2) |
11.67 |
% |
Annualized Current Distribution Rate (3) |
7.96 |
% |
Fiscal YTD Cumulative Total Return on NAV (4) |
12.01 |
% |
Fiscal YTD Cumulative Distribution Rate (5) |
7.96 |
% |
(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 Equity & Convertible Income Fund is a diversified closed-end fund that seeks total return comprised of capital appreciation, current income, and gains. Under normal circumstances, the Fund will invest at least
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 NAV. 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.
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For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Equity & Convertible Income Fund
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