Advent Convertible and Income Fund Updates October Distribution Dates
Advent Convertible and Income Fund Announces Distribution Updates
NEW YORK, Sept. 16, 2024 - Advent Convertible and Income Fund (NYSE: AVK) has recently shared important updates regarding its distribution for the month of October. This announcement comes after the Fund declared a regular monthly distribution amounting to $0.1172 per share earlier in September.
Key Dates for October Distribution
The following dates provide essential information for shareholders regarding the upcoming distribution:
Record and Ex-Dividend Dates
Both the record date and the ex-dividend date are set for October 2, 2024. This means that shareholders who hold shares before this date will be eligible for the upcoming distributions.
Payable Date Information
The distribution will be payable on October 31, 2024, marking a significant date for investors seeking income from their investments in the Fund.
Understanding Distribution Composition
A portion of the distribution is expected to be classified as a return of capital instead of purely income. As the year concludes, the Fund will finalize the character of its distributions. This transparency ensures that investors have an accurate understanding of how their returns are composed.
Performance and Investment Strategy
Advent Convertible and Income Fund is positioned as a diversified, closed-end management investment company with a dual focus: to provide both capital appreciation and immediate income. The Fund strives to achieve its objectives by investing a minimum of 80% of its net assets, including any borrowed amounts for investment, into a diversified selection of convertible securities and other income-producing assets.
About Advent Capital Management, LLC
Advent Capital Management, LLC is recognized as an SEC-registered investment adviser, based in New York. The firm emphasizes rigorous capital structure research that encompasses the analysis of equity fundamentals and credit, aiming to maximize total returns while balancing risk.
About Guggenheim Investments
Guggenheim Investments encompasses the servicing agents for the Fund, with Advent Capital Management serving as the Adviser. Although affiliated in service, Advent operates independently in its advisory capacity.
Frequently Asked Questions
What is the record date for the October distribution?
The record date is October 2, 2024, meaning you need to own shares before this date to qualify.
What is the amount of the distribution announced?
The announced distribution amount is $0.1172 per share.
When will the distribution be payable?
The payable date for the distribution is October 31, 2024.
What portion of the distribution might be a return of capital?
A portion of the distribution is estimated to be a return of capital, but the exact details will be confirmed at year-end.
What investment strategy does the Fund employ?
The Fund invests at least 80% of its net assets in convertible and non-convertible income producing securities, focusing on total return.
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