Virtus Convertible & Income Fund II Announces Cash Distribution
Virtus Convertible & Income Fund II (NYSE: NCZ) has made a significant announcement regarding its quarterly distribution of $0.34375 per share to Series A cumulative preferred shareholders. This payment is set for December 31 and applies to those on record as of December 12. Investors can appreciate this timely news, highlighting the fund's commitment to its shareholders.
Details of the Series A Cumulative Preferred Shares
The Series A Cumulative Preferred Shares are actively traded on the New York Stock Exchange under the ticker NCZ PR A and come with an impressive annual dividend rate of $1.375 per share. Initially issued in September 2018, these shares were priced at $25.00 each and are designed to provide regular cash distributions each quarter. Currently, the shares are callable, meaning they can be redeemed at any time at their liquidation value plus accrued dividends, keeping investors informed and engaged.
Understanding the Distribution Period
This cash distribution reflects earnings accrued from October 1 through December 31 of the current year. Such timely announcements are crucial as they not only denote strong portfolio performance but also assure investors that their dividends are being effectively managed. Investors should keep close tabs on these dates to ensure they do not miss out on these distributions.
About the Investment Fund
The Virtus Convertible & Income Fund II aims to achieve total return through both capital appreciation and high current income. This goal speaks volumes about the fund's strategy, targeting stability and growth for its investors. Virtus Investment Advisers, Inc. manages the fund while Voya Investment Management serves as its subadviser, bringing a wealth of experience to the table.
Investment Strategy and Risks
While the fund offers attractive returns, it is essential to consider inherent risks, including possible loss of principal. The shares of closed-end funds, such as this one, can fluctuate, sometimes trading at a premium or discount to their net asset value. Investors are encouraged to review the fund’s annual report for detailed information on objectives and risks, which serves to enhance understanding and make informed decisions.
About Virtus Investment Partners, Inc.
Virtus Investment Partners (NYSE: VRTS) operates as a dynamic partnership of boutique investment managers, each dedicated to fostering long-term success for both individual and institutional investors. They offer an array of investment management products and services through affiliated managers, ensuring that distinct investment styles and autonomous processes meet diverse investor needs.
By focusing on innovative investment strategies, the firm illustrates its commitment to delivering effective solutions tailored for different investor objectives. More about Virtus Investment Partners and their offerings can be explored through their website, which provides a comprehensive view of their investment strategies.
Frequently Asked Questions
What is the distribution amount for the Series A shares?
The announced distribution is $0.34375 per share for the Series A cumulative preferred shares.
When will the distribution be paid?
The distribution will be payable on December 31 of the current year.
What is the annual dividend rate for the Series A shares?
The annual dividend rate for the Series A Cumulative Preferred Shares is $1.375 per share.
Who manages the Virtus Convertible & Income Fund II?
Virtus Investment Advisers, Inc. manages the fund, with Voya Investment Management serving as its subadviser.
What are the associated risks of investing in this fund?
Investing in this fund entails risks including potential loss of principal and fluctuation in share value as closed-end funds may trade at a premium or discount to their net asset value.
