Virtus Convertible Fund Declares Distribution for Preferred Shares

Virtus Convertible & Income Fund Distribution Announcement

Virtus Convertible & Income Fund (NYSE: NCV) has made an important announcement regarding the distribution for its Series A Cumulative Preferred Shares. The fund has declared a cash distribution amounting to $0.3515625 per share, which is set to be payable soon for eligible shareholders. This initiative underlines the fund's commitment to providing returns to its investors and maintaining transparent communication.

Details of the Distribution

This distribution will be issued on December 31, 2024, to all preferred shareholders who are on record as of December 12, 2024. This mechanism ensures that shareholders receive their due dividends promptly. The Series A Cumulative Preferred Shares trade under the symbol NCV PR A on the New York Stock Exchange and have been rated “A” by Fitch Ratings, reflecting their stability and reliability.

Key Information about the Series A Preferred Shares

The preferred shares currently have an annual dividend rate set at $1.40625 per share. Originally issued at $25.00 each on September 20, 2018, these shares have become an attractive option due to their quarterly payment structure, thus promoting stable cash flow to shareholders.

Investment Objectives of the Fund

Virtus Convertible & Income Fund operates with a clear investment goal that focuses on providing total returns. This is achieved through a balanced approach of capital appreciation combined with high current income, offering a diversified strategy for investors seeking consistent performance.

Advisory Structure

Virtus Investment Advisers, Inc. serves as the primary investment adviser for the fund. Collaborating closely with Voya Investment Management as its subadviser, the fund benefits from a vast pool of expertise in the investment management realm. This partnership facilitates the implementation of their investment strategies aimed at maximizing opportunities for their clients.

Understanding Fund Risks

As with any investment, engaging with Virtus Convertible & Income Fund comes with inherent risks. Investors should be aware of the potential impact of market fluctuations on the fund’s shares. The possibility exists for shares to be valued less upon sale than the original purchase price. Being a closed-end fund, its shares may also trade at a premium or discount relative to their net asset value.

Contact Information for Investors

For those interested in gathering further insights about the fund or needing assistance, shareholder services are available at (866) 270-7788. Investors are encouraged to reach out to the dedicated team, who will provide the necessary information and guidance regarding investment opportunities and strategies.

About Virtus Investment Partners

Virtus Investment Partners (NYSE: VRTS) offers a unique approach to investment management characterized by collaboration among boutique firms. This partnership model allows for the delivery of tailored investment management products suitable for both individual and institutional investors. With an array of affiliated managers, each brings a distinct expertise, contributing to a rich tapestry of investment solutions designed to cater to diverse client needs. More information about their offerings and managerial style can be easily accessed on their official site.

Frequently Asked Questions

What is the amount of the recent distribution declared by Virtus Convertible Fund?

The fund has declared a distribution of $0.3515625 per share for its Series A Cumulative Preferred Shares.

When will the distribution be paid out to shareholders?

The distribution is scheduled to be paid on December 31, 2024, to shareholders recorded as of December 12, 2024.

Is the Series A Cumulative Preferred Shares rated?

Yes, the shares have received an “A” rating from Fitch Ratings, indicating their strong financial standing.

Who manages the investment strategies for Virtus Convertible & Income Fund?

Virtus Investment Advisers, Inc. is responsible for managing the fund, supported by Voya Investment Management as its subadviser.

What type of investment risks are associated with the fund?

Investors should consider risks such as the potential decline in share value and the possibility of shares trading at premiums or discounts compared to their net asset value.

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