Virtus Diversified Income & Convertible Fund Discloses Sources of Distribution – Section 19(a) Notice
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on October 30, 2024. The Fund's distribution analysis reveals that 100% of the current distribution ($0.180) represents a return of capital. The Fund's performance metrics show a 12.57% average annual total return on NAV for the 5-year period, with a 9.73% annualized current distribution rate. The fiscal YTD cumulative total return on NAV stands at 13.78%, while the fiscal YTD cumulative distribution rate is 6.49%.
Il Virtus Diversified Income & Convertible Fund (NYSE: ACV) ha annunciato una distribuzione mensile di $0.18 per azione, che sarà pagata il 30 ottobre 2024. L'analisi della distribuzione del fondo rivela che il 100% della distribuzione attuale ($0.180) rappresenta un ritorno di capitale. Le metriche di performance del fondo mostrano un 12.57% di rendimento totale medio annuo sul NAV per il periodo di 5 anni, con un tasso di distribuzione annualizzato attuale del 9.73%. Il rendimento totale cumulativo sul NAV dall'inizio dell'anno fiscale si attesta al 13.78%, mentre il tasso di distribuzione cumulativo dall'inizio dell'anno fiscale è del 6.49%.
El Virtus Diversified Income & Convertible Fund (NYSE: ACV) ha anunciado una distribución mensual de $0.18 por acción, que se pagará el 30 de octubre de 2024. El análisis de la distribución del fondo revela que el 100% de la distribución actual ($0.180) representa un retorno de capital. Las métricas de rendimiento del fondo muestran un 12.57% de rendimiento total anual promedio sobre el NAV durante el período de 5 años, con una tasa de distribución actualizada anualizada de 9.73%. El rendimiento total acumulado sobre el NAV desde el inicio del año fiscal es de 13.78%, mientras que la tasa de distribución acumulada del año fiscal es de 6.49%.
Virtus Diversified Income & Convertible Fund (NYSE: ACV)는 2024년 10월 30일에 지급되는 주당 $0.18의 월간 분배를 발표했습니다. 펀드의 분배 분석에 따르면 현재 분배의 100%($0.180)는 자본 반환을 나타냅니다. 펀드의 성과 지표는 5년 기간 동안 NAV에 대해 12.57%의 평균 연간 총 수익률을 기록했으며, 현재 연간화된 분배율은 9.73%입니다. 회계 연도 초부터 누적 총 수익률은 13.78%이며, 회계 연도 초부터 누적 분배율은 6.49%입니다.
Le Virtus Diversified Income & Convertible Fund (NYSE: ACV) a annoncé une distribution mensuelle de $0.18 par action, payable le 30 octobre 2024. L'analyse de la distribution du fonds révèle que 100% de la distribution actuelle ($0.180) représente un retour de capital. Les indicateurs de performance du fonds affichent un rendement total moyen annuel de 12.57% sur NAV pour la période de 5 ans, avec un taux de distribution annualisé actuel de 9.73%. Le rendement total cumulé sur NAV depuis le début de l'exercice fiscal est de 13.78%, tandis que le taux de distribution cumulé depuis le début de l'exercice fiscal est de 6.49%.
Der Virtus Diversified Income & Convertible Fund (NYSE: ACV) hat eine monatliche Ausschüttung von $0.18 pro Aktie angekündigt, die am 30. Oktober 2024 ausgezahlt wird. Die Analyse der Ausschüttung des Fonds zeigt, dass 100% der aktuellen Ausschüttung ($0.180) eine Rückgabe von Kapital darstellt. Die Leistungskennzahlen des Fonds zeigen eine durchschnittliche jährliche Gesamtrendite von 12.57% auf NAV über den Zeitraum von 5 Jahren, mit einer annualisierten aktuellen Ausschüttungsrate von 9.73%. Die kumulierte Gesamtrendite auf NAV seit Jahresbeginn liegt bei 13.78%, während die kumulierte Ausschüttungsrate seit Jahresbeginn 6.49% beträgt.
- 5-year average annual total return on NAV of 12.57%
- Fiscal YTD cumulative total return on NAV of 13.78%
- High annualized current distribution rate of 9.73%
- 100% of distribution represents return of capital, not actual earnings
- No net investment income or capital gains contributing to distribution
Insights
The fund's distribution structure reveals important insights for investors. The
The fund's
Ticker |
Amount of Distribution |
Ex-Date |
Record Date |
Payable Date |
ACV |
|
October 11, 2024 |
October 11, 2024 |
October 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 estimate of the sources of its distributions:
Distribution Estimates |
October 2024 (MTD) |
Fiscal Year-to-Date
|
||||||||||
(Sources) |
Per Share
|
Percentage
|
Per Share
|
Percentage
|
||||||||
Net Investment Income |
$ |
- |
0.0 |
% |
$ |
- |
0.0 |
% |
||||
Net Realized Short-Term Capital Gains |
|
- |
0.0 |
% |
|
- |
0.0 |
% |
||||
Net Realized Long-Term Capital Gains |
|
- |
0.0 |
% |
|
- |
0.0 |
% |
||||
Return of Capital (or other Capital Source) |
|
0.180 |
100.0 |
% |
|
1.620 |
100.0 |
% |
||||
Total Distribution |
$ |
0.180 |
100.0 |
% |
$ |
1.620 |
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.
| September 30, 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 from the first day of the fiscal year to this month 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 Diversified Income & Convertible Fund is a diversified closed-end fund that seeks to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. The Fund strives to dynamically allocate across convertibles, equities, and income-producing securities. The Fund normally invests 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/20241028771563/en/
For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
Source: Virtus Diversified Income & Convertible Fund
FAQ
What is the monthly distribution amount for ACV stock in October 2024?
What is ACV's 5-year average annual total return as of September 30, 2024?
What percentage of ACV's October 2024 distribution is return of capital?
What is ACV's fiscal YTD cumulative distribution rate?
