VIRTUS ALLIANZGI CONVERTIBLE & INCOME FUND DECLARES QUARTERLY DISTRIBUTION: 5.625% SERIES A CUMULATIVE PREFERRED SHARES
Virtus AllianzGI Convertible & Income Fund (NCV) declared a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on June 30, 2022.
Sentiment and the balance of points
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Rhea-AI Summary
Virtus AllianzGI Convertible & Income Fund (NCV) declared a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on June 30, 2022. Shareholders of record on June 13, 2022 will receive this payment. The Series A shares, trading under NCV.PRA, are rated 'A' by Fitch Ratings and have an annual dividend rate of $1.40625 per share. These shares were issued at $25.00 per share and are callable post a five-year non-call period ending September 20, 2023.
Positive
- Distribution of $0.3515625 per share indicates strong cash flow.
- Series A shares rated 'A' by Fitch Ratings show reliability.
- Annual dividend rate of $1.40625 provides attractive income.
Negative
- None.
Details
News Market Reaction – NCV
The recorded move for NCV in the trading session of this news was +1.21%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HARTFORD, Conn., June 1, 2022 /PRNewswire/ -- Virtus AllianzGI Convertible & Income Fund (NYSE: NCV), announced today that it has declared a
The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCV PR A, are rated "A" by Fitch Ratings and have an annual dividend rate of
About the Fund
Virtus AllianzGI Convertible & Income Fund has an investment objective to provide total return through a combination of capital appreciation and high current income. Virtus Investment Advisers, Inc. has been the investment adviser of the fund since February 1, 2021 and Allianz Global Investors manages the fund in a subadvisory capacity. For more information on this fund, contact shareholder services at 800-254-5197, by email at closedendfunds@virtus.com, or through the closed-end fund section on the web at www.virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about each fund's investment objective and risks, please see the fund's annual report. A copy of the fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.
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SOURCE Virtus AllianzGI Convertible & Income Fund
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