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

    12/2/24 4:15:00 PM ET
    $NCZ
    $VRTS
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    Virtus Convertible & Income Fund II (NYSE:NCZ) announced today that it has declared a $0.34375 per share cash distribution payable on December 31, 2024 to Series A cumulative preferred shareholders of record on December 12, 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. This distribution represents the accrual period from October 1, 2024 through December 31, 2024. The Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.

    About the Fund

    Virtus Convertible & Income Fund II has an investment objective to provide total return through a combination of capital appreciation and high current income. Virtus Investment Advisers, Inc. is the investment adviser to the fund and Voya Investment Management is its subadviser.

    For more information on this fund, contact shareholder services at (866) 270-7788, by email at [email protected], or through the Closed-End Funds section on the web at virtus.com.

    Fund Risks

    An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about the fund's investment objective and risks, please see the fund's annual report. A copy of the fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.

    About Virtus Investment Partners, Inc.

    Virtus Investment Partners (NYSE:VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20241202740226/en/

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    Q&A

    New
    • What cash distribution has Virtus Convertible & Income Fund II declared?

      Virtus Convertible & Income Fund II has declared a cash distribution of $0.34375 per share to Series A cumulative preferred shareholders.

    • When will the declared cash distribution be payable?

      The cash distribution will be payable on December 31, 2024, to shareholders of record on December 12, 2024.

    • What is the rating and annual dividend rate of the Series A Cumulative Preferred Shares?

      The Series A Cumulative Preferred Shares are rated "A" by Fitch Ratings and have an annual dividend rate of $1.375 per share.

    • At what price were the Series A Cumulative Preferred Shares issued and what is their callable price?

      The Series A Cumulative Preferred Shares were issued at $25.00 per share and are now callable at that liquidation value plus accrued dividends.

    • What is the investment objective of Virtus Convertible & Income Fund II?

      Virtus Convertible & Income Fund II aims to provide total return through capital appreciation and high current income, managed by Virtus Investment Advisers, Inc.

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