NYSE:NCZ

Two Virtus Closed-End Funds Announce Four Monthly Distributions: NCV, NCZ

Retrieved on: 
Friday, March 1, 2024
Asset Management, Professional Services, Finance, Calendar

The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.

Key Points: 
  • The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.
  • The actual amounts and sources of the distributions for tax purposes will depend on the fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.
  • The fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

Virtus Convertible & Income Fund II Announces Quarterly Distribution: 5.500% Series A Cumulative Preferred Shares

Retrieved on: 
Friday, March 1, 2024
Asset Management, Professional Services, Finance, NCZ, Fitch Ratings

Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on March 29, 2024 to Series A cumulative preferred shareholders of record on March 11, 2024.

Key Points: 
  • Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on March 29, 2024 to Series A cumulative preferred shareholders of record on March 11, 2024.
  • The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCZ PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.375 per share.
  • The 4,360,000 Series A Cumulative Preferred Shares were issued September 11, 2018 at $25.00 per share and pay distributions quarterly.
  • 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 II Announces Quarterly Distribution: 5.500% Series A Cumulative Preferred Shares

Retrieved on: 
Friday, December 1, 2023
Professional Services, Finance, NCZ, NYSE, Fitch Ratings, Airline

Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on December 29, 2023 to Series A cumulative preferred shareholders of record on December 11, 2023.

Key Points: 
  • Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on December 29, 2023 to Series A cumulative preferred shareholders of record on December 11, 2023.
  • The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCZ PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.375 per share.
  • The 4,360,000 Series A Cumulative Preferred Shares were issued September 11, 2018 at $25.00 per share and pay distributions quarterly.
  • The Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.

Certain Virtus Closed-End Funds Announce Three Monthly Distributions: NCV, NCZ, CBH

Retrieved on: 
Thursday, November 16, 2023
Asset Management, Professional Services, Finance, Calendar, Security (finance)

The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.

Key Points: 
  • The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.
  • The actual amounts and sources of the distributions will depend on the fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.
  • The fund or your broker will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders what distributions to report for federal income tax purposes.

Virtus Convertible & Income Fund II Announces Quarterly Distribution: 5.500% Series A Cumulative Preferred Shares

Retrieved on: 
Friday, September 1, 2023
Professional Services, Finance, Fitch Ratings, NCZ, NYSE, Airline, Life insurance

Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on September 29, 2023 to Series A cumulative preferred shareholders of record on September 11, 2023.

Key Points: 
  • Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on September 29, 2023 to Series A cumulative preferred shareholders of record on September 11, 2023.
  • The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCZ PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.375 per share.
  • The 4,360,000 Series A Cumulative Preferred Shares were issued September 11, 2018 at $25.00 per share and pay distributions quarterly.
  • The Series A Cumulative Preferred Shares will be callable at any time at the liquidation value of $25.00 per share plus accrued dividends from and after the expiration of a five-year non-call period on September 11, 2023.

Certain Virtus Closed-End Funds Announce Three Monthly Distributions: NCV, NCZ, CBH

Retrieved on: 
Thursday, August 31, 2023
Banking, Professional Services, Finance, Calendar, Security (finance)

The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.

Key Points: 
  • The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.
  • The actual amounts and sources of the distributions will depend on the fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.
  • The fund or your broker will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders what distributions to report for federal income tax purposes.

Virtus Convertible & Income Fund II Announces Quarterly Distribution: 5.500% Series A Cumulative Preferred Shares

Retrieved on: 
Thursday, June 1, 2023
Asset Management, Professional Services, Finance, Fitch Ratings, NCZ, NYSE, Life insurance, Cryptocurrency

Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on June 30, 2023 to Series A cumulative preferred shareholders of record on June 12, 2023.

Key Points: 
  • Virtus Convertible & Income Fund II (NYSE: NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on June 30, 2023 to Series A cumulative preferred shareholders of record on June 12, 2023.
  • The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCZ PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.375 per share.
  • The 4,360,000 Series A Cumulative Preferred Shares were issued September 11, 2018 at $25.00 per share and pay distributions quarterly.
  • The Series A Cumulative Preferred Shares will be callable at any time at the liquidation value of $25.00 per share plus accrued dividends from and after the expiration of a five-year non-call period on September 11, 2023.

Virtus Convertible & Income Fund and Virtus Convertible & Income Fund II Announce Private Placement of Mandatory Redeemable Preferred Shares

Retrieved on: 
Friday, May 26, 2023
Professional Services, Finance, MRP, Fund, UBS, ARPS, Funding, Security (finance)

Each Fund intends to use the net proceeds from its issuance, along with security sales, to pay down its respective temporary liquidity facilities, which were put into place on November 1, 2022, coincident with the settlement of the tender offer for the Funds’ auction rate preferred shares (ARPS).

Key Points: 
  • Each Fund intends to use the net proceeds from its issuance, along with security sales, to pay down its respective temporary liquidity facilities, which were put into place on November 1, 2022, coincident with the settlement of the tender offer for the Funds’ auction rate preferred shares (ARPS).
  • The newly issued MRP shares are part of a larger capital restructuring for the Funds that is intended to help reduce overall borrowing levels and create a more flexible capital structure by having short-, mid- and long-term borrowings for each Fund.
  • In addition to the MRP shares, each Fund’s borrowing structure will still consist of an allocation to a short-term liquidity facility as well as cumulative preferred shares for the purpose of providing financial leverage to common shareholders.
  • The MRP shares were privately placed with an institutional investor by UBS Securities LLC, the placement agent for the offerings.

Certain Virtus Closed-End Funds Announce Two Monthly Distributions: NCV, NCZ, CBH

Retrieved on: 
Thursday, May 25, 2023
Banking, Professional Services, Finance, Calendar, Security (finance)

The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.

Key Points: 
  • The amounts of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes.
  • The actual amounts and sources of the distributions will depend on the fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.
  • The fund or your broker will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders what distributions to report for federal income tax purposes.