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Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has completed its termination and liquidation on August 30, 2024. The Fund's final net asset value (NAV) was $9.2342 per common share, with liquidation proceeds paid to shareholders on September 4, 2024. Launched on June 29, 2017, the Fund paid total distributions of $4.2152 per share, representing an average annual distribution rate of 6.36% on the final NAV. The annualized total return for initial investors was 5.34% based on NAV and 5.26% based on market price. Shareholders may recognize gains or losses for tax purposes and are advised to consult tax advisors regarding potential tax liabilities from the liquidation proceeds.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a $0.34375 per share cash distribution for its Series A cumulative preferred shareholders. The distribution is payable on September 30, 2024, to shareholders of record on September 13, 2024. The Series A Cumulative Preferred Shares, trading under the symbol NCZ PR A, are rated "A" by Fitch Ratings and offer an annual dividend rate of $1.375 per share. These shares were initially issued on September 11, 2018, at $25.00 per share and pay quarterly distributions. The current distribution covers the accrual period from July 1, 2024, through September 30, 2024. Notably, the Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.
Virtus Convertible & Income Fund (NYSE: NCV) has declared a $0.3515625 per share cash distribution for its Series A cumulative preferred shareholders. The distribution is payable on September 30, 2024, to shareholders of record on September 13, 2024. The Series A Cumulative Preferred Shares, trading under the symbol NCV PR A, are rated "A" by Fitch Ratings and have an annual dividend rate of $1.40625 per share. These shares were initially issued on September 20, 2018, at $25.00 per share and pay distributions quarterly. The current distribution covers the accrual period from July 1, 2024, through September 30, 2024. Notably, the Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.
Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced monthly distributions of $0.15 per share for September, October, and November 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. For the August 2024 distribution, 94.7% came from net realized long-term capital gains, while 5.3% was from net realized short-term capital gains.
The fund's performance metrics as of July 31, 2024, show an average annual total return on NAV of 12.95% for the 5-year period and an annualized current distribution rate of 8.36%. The fiscal YTD cumulative total return on NAV stands at 8.84%, with a cumulative distribution rate of 4.18%. Shareholders are reminded that a portion of the distribution may represent a return of capital.
Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) announced a 9% increase in its quarterly distribution from $0.280 to $0.305 per share, effective September 2024. This follows a previous increase in March 2024, resulting in a cumulative 23% increase this year. The new distribution represents an annual rate of approximately 9.5% based on market price and 8.3% based on NAV. The Fund aims to maintain consistent distributions through its Managed Distribution Plan, sourced from net investment income, realized capital gains, or a combination thereof. For September 2024, the distribution sources are estimated as 20.1% from net investment income, 43.1% from net realized long-term capital gains, and 36.8% from return of capital.
Virtus Total Return Fund Inc. (NYSE: ZTR) has announced monthly distributions of $0.05 per share for September, October, and November 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution appears to be primarily a return of capital, with 95.1% of the fiscal year-to-date distribution classified as such.
Key performance metrics as of July 31, 2024 include:
- 5-year Average Annual Total Return on NAV: 3.58%
- Annualized Current Distribution Rate: 9.13%
- Fiscal YTD Cumulative Total Return on NAV: 12.84%
- Fiscal YTD Cumulative Distribution Rate: 6.09%
Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced its upcoming monthly distributions for September, October, and November 2024. The fund will distribute $0.08 per share for each month. The ex-dates and record dates are set for September 13, October 11, and November 12, 2024, respectively. The corresponding payable dates are September 26, October 30, and November 27, 2024.
It's important to note that these distribution amounts are estimates and not provided for tax reporting purposes. The actual amounts and sources of distributions for tax purposes will depend on the Fund's investment performance during the remainder of its fiscal year. Shareholders will receive a Form 1099-DIV for the calendar year, which will provide the necessary information for federal income tax reporting.
Virtus Equity & Convertible Income Fund (NYSE: NIE) has announced a quarterly distribution of $0.50 per share, payable on September 26, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. For the current distribution, 55.1% comes from net realized short-term capital gains, and 44.9% from net realized long-term capital gains. The fund's 5-year average annual total return on NAV is 11.30%, with an annualized current distribution rate of 7.99%. The fiscal YTD cumulative total return on NAV is 9.32%, with a cumulative distribution rate of 6.00%.
Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) have announced their upcoming monthly distributions for common shares. NCV will distribute $0.034 per share on September 26, October 30, and November 27, 2024. NCZ will distribute $0.030 per share on the same dates. The ex-dates and record dates for these distributions are set for September 13, October 11, and November 12, 2024, respectively. It's important to note that these distribution amounts are estimates and may be subject to changes based on the funds' investment performance and tax regulations.
Virtus Stone Harbor Emerging Markets Income Fund (NYSE: EDF) has announced its monthly distributions for September, October, and November 2024. The fund will distribute $0.06 per share for each month. The ex-dates, record dates, and payable dates are as follows:
- September: Ex-Date and Record Date - September 13, 2024; Payable Date - September 26, 2024
- October: Ex-Date and Record Date - October 11, 2024; Payable Date - October 30, 2024
- November: Ex-Date and Record Date - November 12, 2024; Payable Date - November 27, 2024
The fund notes that these distribution amounts are estimates and may be subject to changes based on tax regulations and investment performance.
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