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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.
Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced a quarterly distribution of $0.50 with an ex-date of June 10, 2022 and a payable date of June 24, 2022. This distribution may originate from net investment income and realized capital gains but could involve a return of capital if investment income is insufficient. For March 2022, the distribution sources estimate reveals 98.2% from net realized short-term capital gains and 1.8% from net investment income. The fund's current fiscal year-to-date annualized distribution rate is 6.79%.
Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced a new managed distribution plan effective March 25, 2022, along with a 32% increase in its quarterly distribution to $0.50 per share, up from $0.38. This increase represents a 6.6% annualized rate based on the December 16, 2021 closing price of $30.44. The Fund aims to enhance shareholder value and reduce the current discount to net asset value. However, distributions may come from net investment income, realized capital gains, or fund assets, which could affect shareholder capital.
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NIE) have announced quarterly distributions of $0.225 and $0.380 per common share, respectively. These distributions will be payable on January 7, 2022, for shareholders of record as of December 20, 2021, with an ex-dividend date of December 17, 2021. The amounts stated are estimates and may vary based on the funds' investment experiences and taxation regulations throughout the fiscal year.
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced quarterly distributions. NFJ will distribute $0.225 per share, while NIE will distribute $0.380 per share. Payments will be made on September 24, 2021, to shareholders recorded by September 13, 2021, with an ex-dividend date of September 10, 2021. The distribution amounts are estimates and subject to change based on the funds' investment performance and tax regulations.
On June 4, 2021, Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NYSE: NIE) announced quarterly distribution declarations. The Virtus Dividend Fund will distribute $0.225 per share, and the AllianzGI Fund will distribute $0.380 per share. Distributions are payable on June 25, 2021, to shareholders of record on June 14, 2021, with an ex-dividend date of June 11, 2021. These amounts are estimates and may change based on the funds' investment experiences.
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced quarterly distributions of $0.225 and $0.380 per share, respectively. The distributions will be paid on March 26, 2021, to shareholders of record on March 15, with an ex-dividend date of March 12, 2021. It’s important to note that these amounts are estimates and may change based on the funds’ investment experiences and tax regulations. Virtus Investment Advisers became the investment adviser for both funds effective February 1, 2021.
AllianzGI Equity & Convertible Income Fund (NYSE: NIE) reported its financial results for the quarter and nine months ending October 31, 2020. The Fund's net assets increased to $757 million from $653 million in 2019. The net asset value (NAV) reached $27.32 per share, up from $23.60 last year. However, net investment income for the quarter was $44,437 compared to $1.1 million in 2019. The Fund's market price was $24.12, reflecting an 11.71% discount to NAV.
AllianzGI Equity & Convertible Income Fund (NYSE: NIE) reported its fiscal results for the quarter and six months ended July 31, 2020. The Fund's net assets rose to $739.17 million compared to $659.37 million in 2019. The net asset value (NAV) increased to $26.68 from $23.80, while shares outstanding remained constant at 27,708,965. Net investment income for the quarter was $534,682 ($0.01 per share), down from $1.33 million in 2019. The market price increased to $24.47, showing an 8.28% discount to NAV.