Virtus Convertible & Income Fund (NYSE: NCV) declared a quarterly cash distribution of $0.3515625 per share for its Series A cumulative preferred shareholders. The payment, totaling $1.40625 annually, will be made on Sept. 30 to shareholders of record as of Sept. 23.
The distribution covers the accrual period from July 1 through Sept. 30. The fund’s preferred shares, issued at $25 each on Sept. 20, 2018, carry a liquidation value of $25 per share plus accrued dividends and remain callable at par at any time.
Managed by Virtus Investment Advisers and Voya Investment Management, the fund targets total return through capital appreciation and high current income. Its Series A preferred shares have been rated A by Fitch Ratings. A total of 4 million Series A cumulative preferred shares have been issued.
