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Virtus Equity & Convertible Income Fund (NIE) reports recurring closed-end fund distribution activity for its common shares. News releases center on quarterly and special year-end distributions, Section 19(a) notices, and estimates of distribution sources under the fund's Managed Distribution Plan. The fund's communications distinguish NAV-based performance and distribution rates from market-price measures and describe payments that may come from net investment income, realized capital gains, or return of capital. Historical releases also reference the fund's Virtus advisory relationship and portfolio focus on equities and income-producing convertible securities.
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Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a quarterly distribution of $0.50 per share, with an ex-date of June 9, 2023, record date of June 12, 2023, and payable date of June 23, 2023. This distribution is consistent with the Fund's Managed Distribution Plan, which aims to maintain stable distribution levels from net investment income and realized capital gains. Shareholders should be aware that some of this distribution may represent a return of capital, affecting overall investment performance. The Fund's fiscal year-to-date cumulative total return on NAV is -2.27%.
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HARTFORD, Conn., Dec. 20, 2022 /PRNewswire/ -- The Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a special year-end distribution of $1.9765 per share, payable on January 10, 2023. The distribution is in addition to the regular quarterly distribution and complies with federal tax requirements. The Fund reported its estimated sources for the distribution, including $0.183 from short-term capital gains and $1.794 from long-term capital gains. Overall, the distribution represents a total of $1.977 for the current fiscal year.
Virtus Equity & Convertible Income Fund (NIE) announced a quarterly distribution of $0.50 on December 9, 2022, with a payable date of December 23, 2022. The distribution is part of its Managed Distribution Plan, aiming at maintaining a consistent distribution level funded by net investment income and realized capital gains. Notably, the Fund reported that the distribution will be sourced predominantly from net realized short-term capital gains, with total estimated distributions for the fiscal year-to-date standing at 8.04%.
On September 8, 2022, the Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a quarterly distribution of $0.50, with an ex-date of December 9, 2022. The record date is December 12, 2022, and the payable date is December 23, 2022. The Fund operates under a Managed Distribution Plan, indicating that if net investment income and net realized capital gains are insufficient, the difference will be sourced from the Fund's assets, constituting a return of capital. The Fund's average annual total return on NAV over the last five years is 10.33%.
Virtus AllianzGI Equity & Convertible Income Fund (NYSE: NIE) announced a quarterly distribution of $0.50, payable on September 23, 2022. The ex-date is set for September 9, 2022, and the record date is September 12, 2022. Under the Managed Distribution Plan, the Fund aims to maintain consistent distribution levels, which may involve returns of shareholder capital if net investment income and realized capital gains are insufficient. As of May 31, 2022, the Fund reported a YTD Cumulative Total Return on NAV of -11.22%.