Welcome to our dedicated page for Virtus Cnvtbl II news (Ticker: NCZ), a resource for investors and traders seeking the latest updates and insights on Virtus Cnvtbl II stock.
Virtus Convertible & Income Fund II (NYSE: NCZ) is a diversified, closed-end management investment company with an investment objective to provide total return through a combination of capital appreciation and high current income. This news page focuses on official announcements and updates related to the fund’s listed common shares and its 5.500% Series A Cumulative Preferred Shares (NCZ PR A).
News items for NCZ frequently cover distribution declarations for the Series A Cumulative Preferred Shares, including the cash amount per share, record dates, payable dates, and the accrual periods for each quarterly distribution. These releases also reiterate that the preferred shares are rated “A” by Fitch Ratings, were issued at $25.00 per share, pay distributions quarterly, and are callable at the liquidation value plus accrued dividends.
Another recurring topic in NCZ news is capital structure actions, such as the 1-for-4 reverse stock split of the fund’s common shares that became effective as of the start of trading on February 10, 2025. Coverage of this event explains the mechanics of the reverse split, the retention of the NCZ trading symbol, the assignment of a new CUSIP, and the stated intention to achieve a higher per-share market price and potentially broaden the range of investors and improve liquidity.
Investors and observers can use this page to review how Virtus Convertible & Income Fund II communicates about its distributions, preferred share terms, and structural changes. The news items also highlight key risk disclosures, including the possibility of loss of principal and the fact that closed-end fund shares may trade at a premium or discount to net asset value.
Virtus AllianzGI Convertible & Income Fund II (NCZ) announced a cash distribution of $0.34375 per share, payable on March 31, 2022, to Series A cumulative preferred shareholders recorded by March 11, 2022. The Series A shares, rated 'A' by Fitch, feature a dividend rate of $1.375 per share, with 4.36 million shares issued at $25.00 each. The distribution covers the period from January 1 to March 31, 2022. Shares are callable post a five-year non-call period ending on September 11, 2023.
Virtus AllianzGI Convertible & Income Fund II (NCZ) has declared a cash distribution of $0.34375 per share for Series A cumulative preferred shareholders, payable on December 31, 2021. This distribution pertains to the accrual period from October 1, 2021, through December 31, 2021, with shareholders of record on December 13, 2021. The Series A shares, rated 'A' by Fitch Ratings, have an annual dividend rate of $1.375 and were issued at $25.00 per share. The shares will be callable post a five-year non-call period ending on September 11, 2023.
Virtus AllianzGI Convertible & Income Fund II (NCZ) announced a cash distribution of $0.34375 per share for Series A cumulative preferred shareholders, payable on September 30, 2021. Shareholders of record as of September 13, 2021 will receive this payment. The Series A preferred shares have an annual dividend rate of $1.375 and were issued at $25.00 per share. These shares will be callable after September 11, 2023. The actual distribution amounts may vary based on fund performance and tax regulations.
Virtus AllianzGI Convertible & Income Fund II (NCZ) has declared a cash distribution of $0.34375 per share, payable on June 30, 2021, to Series A cumulative preferred shareholders of record by June 11, 2021. The Series A shares, rated 'A' by Fitch, have an annual dividend rate of $1.375 and were issued at $25.00 per share. This distribution covers the period from April 1, 2021, through June 30, 2021. Shareholders will receive a Form 1099-DIV for tax reporting purposes.
Virtus AllianzGI Convertible & Income Fund II has declared a cash distribution of $0.34375 per share, payable on March 31, 2021, to Series A cumulative preferred shareholders of record by March 11, 2021. The total shares outstanding are 4,360,000, issued at $25.00 per share, with an annual dividend rate of $1.375. The shares are rated "AA" by Fitch and are callable post a five-year non-call period ending September 11, 2023. Distributions depend on the fund's investment performance and may be subject to tax regulation changes.
AllianzGI Convertible & Income Fund II (NYSE: NCZ) reported its fiscal results for the quarter and nine months ended November 30, 2020. The Fund's net assets increased to $674.56 million, up from $656.77 million in 2019. The net asset value (NAV) rose to $5.30 compared to $5.06 in the previous year. However, net investment income dropped to $6.44 million from $8.96 million, reflecting a decrease in income per share from $0.12 to $0.08. The market price was recorded at $4.81, showing a discount to NAV of (9.25%).
AllianzGI Convertible & Income Fund (NCV) and AllianzGI Convertible & Income Fund II (NCZ) have announced a repurchase plan for their series A cumulative preferred shares. This initiative aims to enhance capital management strategies. The Funds will repurchase shares at market prices at or below their liquidation preference of $25.00 per share, or at a premium of up to 1.00% above this value, contingent on specific interest rates from their short-term credit facility. The plan aligns with Rule 10b-18 and will utilize borrowing under the State Street Credit Facility.
The Board of Trustees of AllianzGI Convertible & Income Fund II (NYSE: NCZ) has announced a cash distribution of $0.34375 per share, payable on December 31, 2020, to preferred shareholders of record as of December 11, 2020. The Series A Cumulative Preferred Shares, rated 'AAA' by Fitch Ratings, were issued at $25.00 each and will pay distributions quarterly. The distribution is based on the period from October 1, 2020, to December 31, 2020. Future distributions may differ in composition and could include net investment income, capital gains, or return of capital.
AllianzGI Convertible & Income Fund II (NYSE:NCZ) reported its fiscal results for the quarter and six months ending August 31, 2020. The Fund's net assets decreased to $642 million from $653 million in 2019. The net asset value (NAV) per share dropped to $4.87 compared to $5.03 in the previous year, reflecting a 10.47% discount to NAV. Net investment income for Q2 2020 was $6.67 million ($0.09 per share), down from $9.27 million ($0.12 per share) in 2019. Total net realized and unrealized gains significantly increased to $58.20 million, up from $16.91 million in 2019.