Welcome to our dedicated page for Virtus Convertible & Income Fund news (Ticker: NCV), a resource for investors and traders seeking the latest updates and insights on Virtus Convertible & Income Fund stock.
Virtus Convertible & Income Fund reports recurring closed-end fund developments centered on distributions, capital structure and fund governance. The fund seeks total return through capital appreciation and high current income, with investments in convertible securities and other income-producing securities. Virtus Investment Advisers serves as investment adviser, and Voya Investment Management serves as subadviser.
News for NCV frequently covers quarterly cash distributions on its 5.625% Series A Cumulative Preferred Shares, which trade on the NYSE as NCV PR A, as well as common-share distribution schedules and share-structure actions. Fund updates also reference closed-end fund features such as NAV premiums or discounts, leverage-related preferred shares and portfolio risk disclosures.
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.
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Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced a 20% decrease in their monthly distributions, effective from the April distribution payable on May 1, 2023. For NCV, the new distribution will be $0.034 per share, down from $0.0425. Similarly, NCZ's distribution will drop to $0.03 from $0.0375. The adjustment reflects increased costs of leverage and current earnings in the prevailing market environment. Additionally, the reported distribution amounts are estimates and subject to tax regulations, with final amounts determined by the funds' investment performance.