Virtus Investment Partners, Inc. - VRTS STOCK NEWS

Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced its monthly distributions of $0.10 for October and November 2020. The fund's distributions are part of its Managed Distribution Plan, which may involve returns of capital if net investment income and realized capital gains are insufficient. In July 2020, net investment income accounted for 48.5% of distributions, while returns of capital amounted to 51.5%. The fund's average annual total return on NAV for the past five years is 5.06%, and its current fiscal YTD annualized distribution rate is 9.72%.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced monthly distributions of $0.08 on August 28, 2020. The distributions are scheduled for October 20 and November 19, 2020. The fund's Managed Distribution Plan aims to maintain consistent levels, potentially funded by net investment income, capital gains, or fund assets, which may lead to a return of capital to shareholders. The fund estimated a return of capital comprising 70.8% of the July distribution, with a fiscal year-to-date cumulative total return on NAV at -3.93% and an annualized distribution rate of 10.65%.

Virtus Investment Partners, Inc. (NASDAQ: VRTS) has declared a quarterly cash dividend of $0.82 per share, marking a 22% increase from the previous dividend of $0.67. This increase reflects the company’s strong free cash flow and its robust balance sheet, supporting its capital priorities such as investing in the business and returning capital to shareholders. The upcoming dividend will be paid on November 13, 2020, to shareholders of record on October 30, 2020. This marks the third consecutive year of dividend increases.

Virtus Investment Partners (NASDAQ: VRTS) announced preliminary asset figures as of July 31, 2020, reporting $112.7 billion in long-term assets under management (AUM) and $114.1 billion in total AUM, which includes $1.4 billion in liquidity assets. Key segments contributing to long-term AUM include Open-End Funds at $42.3 billion, Closed-End Funds at $5.9 billion, and Retail Separate Accounts at $23.6 billion. The previous month’s figures showed long-term AUM of $107.1 billion.

Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 per share, effective August 20, 2020. This is part of its Managed Distribution Plan, which may involve returns of capital if net investment income and realized capital gains fall below distribution levels. For July 2020, net investment income contributed $0.048 (48.5%), while $0.052 was considered return of capital (51.5%). The current annualized distribution rate stands at 9.72%.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share. The distribution will be payable on August 20, 2020, with an ex-date of August 12 and a record date of August 13. Under its Managed Distribution Plan, the fund distributes amounts sourced from net investment income, realized capital gains, or shareholder capital. Notably, a portion of the distribution may include a return of capital, implying the fund has distributed more than its income and gains, and does not reflect investment performance.

Virtus Investment Partners (NASDAQ: VRTS) reported Q2 2020 financial results on July 24, revealing a revenue decline of 5% year-over-year to $132.9 million. Operating expenses decreased by 4%, leading to an operating income of $26.6 million, down 12%. Net income fell by 54% to $11.3 million, yielding earnings per share (EPS) of $1.43. Assets under management rose 20% sequentially to $107.1 billion, driven by market appreciation and positive net flows of $2.5 billion. The company announced a strategic partnership with Allianz Global Investors, which is expected to close by year-end 2020.

Virtus Investment Partners (NASDAQ: VRTS) will announce its Q2 2020 financial results before the market opens on July 24, 2020. A subsequent conference call for investors will occur at 10:00 a.m. Eastern, led by George R. Aylward and Michael A. Angerthal. Investors can access the call via webcast or by phone. The presentation for the call will be available on the Investor Relations section of its website. A recording of the call will be accessible until July 31, 2020.

Virtus Investment Partners reported preliminary assets under management (AUM) of $107.1 billion in long-term assets and $108.5 billion in total AUM as of June 30, 2020. This increase from March 31, 2020 was driven by market appreciation and positive net flows, with inflows noted in mutual funds, retail separate accounts, and institutional accounts. However, there were net outflows in some product lines. The liquidity assets accounted for $1.4 billion.