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The Board of Directors of Duff & Phelps Utility and Infrastructure Fund authorized a dividend payment of 35 cents per share. The payment is scheduled for December 31, 2021, with the ex-date on December 14, 2021 and the record date on December 15, 2021. The Fund operates under a Managed Distribution Plan, aiming to maintain this distribution rate by distributing available investment income. If insufficient income exists, it will distribute capital gains or returns of capital. For the September 2021 quarter, net investment income was reported at 4.4 cents.
The Board of Directors of DTF Tax-Free Income Inc. (NYSE: DTF) has announced a dividend payment of $0.0325 per share, which is a $0.0075 decrease from the previous $0.04 monthly distribution. The dividends will be distributed on the following dates: October 29, 2021, November 30, 2021, and December 31, 2021. This adjustment is made in response to an extended environment of low interest rates affecting the Fund's earnings capacity, particularly impacting its ability to reinvest at competitive rates.
DNP Select Income Fund has declared a monthly dividend of 6.5 cents per share, payable on November 10, 2021. This dividend follows a consistent payout plan initiated in 2007, which aims to distribute all available investment income to shareholders. If sufficient income isn't available, the fund will utilize long-term capital gains or return of capital to maintain the distribution level. For fiscal year-to-date, cumulative distributions amount to $0.650 per share, with 18.95% cumulative total return on NAV.
Virtus Investment Partners reported preliminary assets under management of $183.3 billion as of August 31, 2021. The company also oversees an additional $3.9 billion in fee-earning assets not included in this figure. Breakdown by product type shows open-end funds at $75.6 billion, closed-end funds at $12.2 billion, and retail separate accounts at $42.5 billion. The overall increase from $180.3 billion as of July 31, 2021, suggests growth in asset management performance.
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced quarterly distributions. NFJ will distribute $0.225 per share, while NIE will distribute $0.380 per share. Payments will be made on September 24, 2021, to shareholders recorded by September 13, 2021, with an ex-dividend date of September 10, 2021. The distribution amounts are estimates and subject to change based on the funds' investment performance and tax regulations.
Virtus Total Return Fund Inc. (ZTR) has declared a monthly distribution of $0.08 for October and November 2021. The ex-dates for these distributions are October 8 and November 10, respectively, with record and payable dates set for October 12 and 19, and November 12 and 19. The fund follows a Managed Distribution Plan, which may involve payments from net investment income and realized capital gains, with potential returns coming from the fund's assets. Shareholders should be aware some distributions may be returns of capital, reflecting an estimated distribution of over the fund's income for the year.
The Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced monthly distributions of $0.08 for October and November 2021. The ex-dates are scheduled for October 8 and November 10, with payable dates on October 19 and November 19. As part of its Managed Distribution Plan, the fund aims to maintain consistent distribution levels, potentially funded by net investment income and capital gains. However, distributions may also include a return of capital, reflecting that the fund's aggregate net investment income may not meet distribution levels, thereby reducing shareholder capital.
Virtus AllianzGI Convertible & Income Fund (NYSE: NCV) announced a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on September 30, 2021. The record date for this payment is September 13, 2021. The Series A shares, rated 'A' by Fitch, have an annual dividend rate of $1.40625 and were issued at $25.00 per share. Additionally, these shares will be callable after a five-year period ending September 20, 2023. Distributions' actual amounts may vary based on the fund's investment performance.
Virtus AllianzGI Convertible & Income Fund II (NCZ) announced a cash distribution of $0.34375 per share for Series A cumulative preferred shareholders, payable on September 30, 2021. Shareholders of record as of September 13, 2021 will receive this payment. The Series A preferred shares have an annual dividend rate of $1.375 and were issued at $25.00 per share. These shares will be callable after September 11, 2023. The actual distribution amounts may vary based on fund performance and tax regulations.
Virtus Investment Partners (NASDAQ: VRTS) has announced an impressive 83% increase in its quarterly cash dividend, raising it to $1.50 per share from $0.82. This marks the fourth consecutive year of dividend increases. The new dividend will be paid on November 12, 2021, to shareholders of record by October 29, 2021. CEO George R. Aylward credited the company's strong balance sheet and cash flow generation as key factors supporting this increase, which reflects their commitment to returning capital and investing in growth.
