Virtus Equity & Convertible Income Fund Discloses Sources of Distribution – Section 19(a) Notice
Virtus Equity & Convertible Income Fund (NYSE: NIE) has announced a quarterly distribution of $0.50 per share, payable on December 30, 2024. The fund's distribution sources for December 2024 consist entirely of net realized short-term capital gains. For the fiscal year-to-date, distributions include 69.1% from short-term gains, 6% from long-term gains, 1.7% from net investment income, and 23.2% return of capital.
The Fund's performance metrics show a 12.31% average annual total return on NAV for the 5-year period, with a current annualized distribution rate of 7.45%. The fiscal YTD cumulative total return on NAV stands at 19.68%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) ha annunciato una distribuzione trimestrale di $0.50 per azione, che sarà pagabile il 30 dicembre 2024. Le fonti di distribuzione del fondo per dicembre 2024 consistono interamente di guadagni di capitale a breve termine netti realizzati. Per l'anno fiscale fino ad oggi, le distribuzioni includono il 69,1% da guadagni a breve termine, il 6% da guadagni a lungo termine, l'1,7% da reddito netto da investimenti e il 23,2% come rimborso di capitale.
I parametri di prestazione del fondo mostrano un 12,31% di ritorno totale annuo medio sul NAV per il periodo di 5 anni, con un attuale tasso di distribuzione annualizzato del 7,45%. Il ritorno totale cumulativo YTD sul NAV si attesta al 19,68%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) ha anunciado una distribución trimestral de $0.50 por acción, que se pagará el 30 de diciembre de 2024. Las fuentes de distribución del fondo para diciembre de 2024 consisten completamente en ganancias de capital a corto plazo netas realizadas. Para el año fiscal hasta la fecha, las distribuciones incluyen un 69,1% de ganancias a corto plazo, un 6% de ganancias a largo plazo, un 1,7% de ingresos netos por inversiones y un 23,2% de reembolso de capital.
Las métricas de rendimiento del fondo muestran un 12,31% de retorno total anualizado promedio sobre el NAV para el período de 5 años, con una tasa de distribución anualizada actual del 7,45%. El retorno total acumulativo en lo que va del año fiscal sobre el NAV es del 19,68%.
Virtus Equity & Convertible Income Fund (NYSE: NIE)가 주당 $0.50의 분기 배당금을 발표하였으며, 2024년 12월 30일에 지급됩니다. 2024년 12월의 배당금 출처는 전적으로 실현된 단기 자본 이익으로 구성됩니다. 회계연도 기준으로 지금까지의 배당금은 단기 이익에서 69.1%, 장기 이익에서 6%, 순 투자 수익에서 1.7%, 자본 환급에서 23.2%를 포함합니다.
펀드의 성과 지표는 5년 동안의 NAV에 대한 평균 연간 총 수익률이 12.31%이며, 현재 연간화된 분배율이 7.45%임을 보여줍니다. 회계연도 기준으로 NAV의 누적 총 수익률은 19.68%입니다.
Virtus Equity & Convertible Income Fund (NYSE: NIE) a annoncé une distribution trimestrielle de $0.50 par action, payable le 30 décembre 2024. Les sources de distribution du fonds pour décembre 2024 se composent entièrement de gains en capital à court terme réalisés nets. Pour l'année fiscale en cours, les distributions comprennent 69,1% provenant de gains à court terme, 6% de gains à long terme, 1,7% de revenus nets d'investissement et 23,2% de remboursement de capital.
Les indicateurs de performance du fonds montrent un 12,31% de rendement total annuel moyen sur le NAV pour la période de 5 ans, avec un taux de distribution annualisé actuel de 7,45%. Le rendement total cumulé depuis le début de l'année fiscale sur le NAV s'élève à 19,68%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) hat eine vierteljährliche Ausschüttung von $0.50 pro Aktie angekündigt, die am 30. Dezember 2024 ausgezahlt wird. Die Ausschüttungsquellen des Fonds für Dezember 2024 bestehen vollständig aus realisierten kurzfristigen Kapitalgewinnen. Im laufenden Geschäftsjahr bis heute entfallen 69,1% der Ausschüttungen auf kurzfristige Gewinne, 6% auf langfristige Gewinne, 1,7% auf Nettoinvestitionserträge und 23,2% auf Kapitalrückzahlungen.
Die Leistungskennzahlen des Fonds zeigen eine 12,31% durchschnittliche jährliche Gesamtrendite auf das NAV über einen Zeitraum von 5 Jahren, mit einem aktuellen annualisierten Ausschüttungssatz von 7,45%. Die kumulierte Gesamtrendite YTD auf das NAV beträgt 19,68%.
- Strong 19.68% fiscal YTD cumulative total return on NAV
- Solid 12.31% average annual total return on NAV for 5-year period
- Consistent quarterly distribution of $0.50 per share maintained
- 23.2% of fiscal YTD distributions constitute return of capital, potentially eroding investor's principal
- Current distribution consists entirely of capital gains, with no investment income component
Insights
Ticker |
Amount of Distribution |
Ex-Date/Record Date |
Payable Date |
NIE |
|
December 12, 2024 |
December 30, 2024 |
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 updated estimate of the sources of its distributions:
Distribution Estimates |
December 2024 (QTD) |
Fiscal Year-to-Date (YTD) (1) |
||||||
(Sources) |
Per Share
|
Percentage
|
Per Share
|
Percentage
|
||||
Net Investment Income |
$ |
- |
0.0 |
% |
$ |
0.035 |
1.7 |
% |
Net Realized Short-Term Capital Gains |
$ |
0.500 |
100.0 |
% |
$ |
1.382 |
69.1 |
% |
Net Realized Long-Term Capital Gains |
$ |
- |
0.0 |
% |
$ |
0.119 |
6.0 |
% |
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.
November 29, 2024 |
|
||
Average Annual Total Return on NAV for the 5-year period (2) |
12.31 |
% |
|
Annualized Current Distribution Rate (3) |
7.45 |
% |
|
Fiscal YTD Cumulative Total Return on NAV (4) |
19.68 |
% |
|
Fiscal YTD Cumulative Distribution Rate (5) |
7.45 |
% |
|
(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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241227198808/en/
For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Equity & Convertible Income Fund
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