Virtus Cnvtbl Stock Price, News & Analysis

Virtus Convertible & Income Fund (NYSE: NCV) has declared a quarterly cash distribution of $0.3515625 per share for its Series A Cumulative Preferred Shares. The distribution will be paid on March 31, 2025 to shareholders of record as of March 17, 2025.

The Series A Preferred Shares, trading under symbol NCV PR A, are rated 'A' by Fitch Ratings and carry an annual dividend rate of $1.40625 per share. Originally issued on September 20, 2018, the 4,000,000 preferred shares were priced at $25.00 per share. The current distribution covers the period from January 1, 2025, through March 31, 2025. The shares are currently callable at the liquidation value of $25.00 per share plus accrued dividends.

Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) have announced a 1-for-4 reverse stock split effective February 10, 2025. The splits, approved by each Fund's board, aim to enhance shareholder value by increasing the per-share market price.

Post-split, shareholders will maintain their same percentage ownership, with one new share issued for every four existing shares. Cash payments will be made for fractional shares, except for participants in the Automatic Dividend Reinvestment Plan. The funds will retain their trading symbols but receive new CUSIP numbers.

Following the split, monthly distributions will be proportionally adjusted. NCV will distribute $0.136 per share on February 27 and March 28, 2025, while NCZ will distribute $0.120 per share on the same dates. The reverse splits aim to broaden the investor base and reduce per-share transaction fees and administrative costs.

The Virtus Convertible & Income Fund (NYSE: NCV) has declared a quarterly cash distribution of $0.3515625 per share for its Series A Cumulative Preferred Shares. The distribution will be paid on December 31, 2024, to shareholders of record as of December 12, 2024. The preferred shares, trading under NCV PR A, are rated 'A' by Fitch Ratings and carry an annual dividend rate of $1.40625 per share. Originally issued at $25.00 per share in September 2018, the 4,000,000 shares are now callable at the liquidation value of $25.00 plus accrued dividends.

Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced a 1-for-4 reverse stock split effective February 10, 2025. The funds will maintain their trading symbols but receive new CUSIPs. Shareholders will be paid cash for fractional shares while maintaining the same percentage ownership. The boards expect the split to result in higher per-share market prices, potentially broadening the investor base and improving stock liquidity. Monthly distributions will continue with adjusted rates: NCV's distribution will increase from $0.034 to $0.136, and NCZ's from $0.030 to $0.120 after the split.

Virtus Convertible & Income Fund (NYSE: NCV) has declared a $0.3515625 per share cash distribution for its Series A cumulative preferred shareholders. The distribution is payable on September 30, 2024, to shareholders of record on September 13, 2024. The Series A Cumulative Preferred Shares, trading under the symbol NCV PR A, are rated "A" by Fitch Ratings and have an annual dividend rate of $1.40625 per share. These shares were initially issued on September 20, 2018, at $25.00 per share and pay distributions quarterly. The current distribution covers the accrual period from July 1, 2024, through September 30, 2024. Notably, the Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.

Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) have announced their upcoming monthly distributions for common shares. NCV will distribute $0.034 per share on September 26, October 30, and November 27, 2024. NCZ will distribute $0.030 per share on the same dates. The ex-dates and record dates for these distributions are set for September 13, October 11, and November 12, 2024, respectively. It's important to note that these distribution amounts are estimates and may be subject to changes based on the funds' investment performance and tax regulations.

Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced monthly distributions for July and August 2024. NCV will distribute $0.034 per share on July 30 and August 29, 2024. NCZ will distribute $0.030 per share on the same dates. The reported amounts are estimates and not for tax purposes, with actual distributions dependent on the funds' investment performance and tax regulations. Investors will receive Form 1099-DIV for accurate federal income tax reporting.

Virtus Convertible & Income Fund (NYSE: NCV) has declared a quarterly cash distribution of $0.3515625 per share for its Series A Cumulative Preferred Shares. The payment is scheduled for June 28, 2024, to shareholders of record as of June 13, 2024. These shares, rated 'A' by Fitch Ratings, were issued at $25.00 per share on September 20, 2018, and have an annual dividend rate of $1.40625 per share. The distribution covers the period from April 1, 2024, to June 30, 2024. The shares are callable at any time at their liquidation value plus accrued dividends.