Advent Convertible and Income Fund Shares Distribution Updates
NEW YORK, Sept. 16, 2024 - Advent Convertible and Income Fund (NYSE: AVK) has provided key updates on its distribution planned for October. This follows the Fund’s declaration of a regular monthly distribution of $0.1172 per share earlier this month.
Important Dates for the October Distribution
Here are the crucial dates for shareholders relating to the upcoming distribution:
Record and Ex-Dividend Dates
Both the record date and the ex-dividend date have been scheduled for October 2, 2024. Shareholders who possess shares prior to this date will qualify for the forthcoming distributions.
Details on Payable Date
The distribution is set to be payable on October 31, 2024. This date is particularly significant for investors looking for income from their holdings in the Fund.
Distribution Composition Explained
A part of the distribution may be designated as a return of capital rather than just income. As the year wraps up, the Fund will clarify the nature of its distributions. This approach ensures investors understand how their returns are structured.
Fund Performance and Investment Approach
Advent Convertible and Income Fund operates as a diversified, closed-end management investment company. It focuses on achieving both capital appreciation and immediate income. To meet these goals, the Fund aims to allocate at least 80% of its net assets, including any borrowed funds, into a variety of convertible securities and other income-generating assets.
About Advent Capital Management, LLC
Advent Capital Management, LLC, based in New York, is an SEC-registered investment adviser. The firm prioritizes in-depth capital structure research, analyzing both equity fundamentals and credit, with the aim of maximizing total returns while managing risk effectively.
About Guggenheim Investments
Guggenheim Investments serves as the servicing agents for the Fund, with Advent Capital Management acting as the Adviser. Although affiliated, Advent operates independently in providing its advisory services.
Frequently Asked Questions
What is the record date for the October distribution?
The record date is set for October 2, 2024, which means you'll need to own shares before this date to be eligible.
What is the declared distribution amount?
The declared distribution amount stands at $0.1172 per share.
When will the distribution be payable?
The distribution is scheduled to be payable on October 31, 2024.
What portion of the distribution could be categorized as a return of capital?
A segment of the distribution is anticipated to be identified as a return of capital, with final specifics to be confirmed at year-end.
What investment strategy does the Fund utilize?
The Fund sets aside at least 80% of its net assets for investment in a selection of convertible and non-convertible income-producing securities, all while targeting total returns.
