HARTFORD, Conn., March 7, 2022 /PRNewswire/ -- Virtus
Dividend, Interest & Premium Strategy Fund (NYSE: NFJ), today
announced the following quarterly distribution:
Ticker
|
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
NFJ
|
$0.245
|
June 10,
2022
|
June 13,
2022
|
June 24,
2022
|
The Fund previously announced the following quarterly
distribution on December 17,
2021:
Ticker
|
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
NFJ
|
$0.245
|
March 11,
2022
|
March 14,
2022
|
March 25,
2022
|
Under the terms of its Managed Distribution Plan, the Fund will
seek to maintain a consistent distribution level that may be paid,
in part or in full, from net investment income and realized capital
gains, or a combination thereof. Shareholders should note, however,
that if the Fund's aggregate net investment income and net realized
capital gains are less than the amount of the distribution level,
the difference will be distributed from the Fund's assets and will
constitute a return of the shareholder's capital. You should not
draw any conclusions about the Fund's investment performance from
the amount of this distribution or from the terms of the Fund's
Managed Distribution Plan.
The Fund provided this estimate of the sources of the
distributions:
Distribution
Estimates
|
March 2022
(QTD)
|
Fiscal
Year-to-Date (YTD)(1)
|
(Sources)
|
Per
Share
Amount
|
Percentage of
Current Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
Net Investment
Income
|
$
0.012
|
4.9%
|
$
0.012
|
4.9%
|
Net Realized
Short-Term Capital Gains
|
0.233
|
95.1%
|
0.233
|
95.1%
|
Net Realized
Long-Term Capital Gains
|
-
|
0.0%
|
-
|
0.0%
|
Return of Capital (or
other Capital Source)
|
-
|
0.0%
|
-
|
0.0%
|
Total
Distribution
|
$
0.245
|
100.0%
|
$
0.245
|
100.0%
|
|
|
|
|
|
|
(1)
Fiscal year started February 1, 2022
|
Information regarding the Fund's performance and distribution
rates is set forth below. Please note that all performance figures
are based on the Fund's NAV and not the market price of the Fund's
shares. Performance figures are not meant to represent individual
shareholder performance.
February 28,
2022
|
|
|
Average Annual
Total Return on NAV for the 5-year period
(2)
|
7.84%
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
6.25%
|
|
Fiscal YTD
Cumulative Total Return on NAV (4)
|
-3.98%
|
|
Fiscal YTD
Cumulative Distribution Rate (5)
|
1.56%
|
|
(2)
|
Average Annual Total
Return on NAV is the annual compound return for the five-year
period. It reflects the change in the Fund's NAV and
reinvestment of all distributions.
|
(3)
|
Current Fiscal YTD
Annualized Distribution Rate is the current distribution rate
annualized as a percentage of the Fund's NAV at month
end.
|
(4)
|
Fiscal YTD Cumulative
Total Return on NAV is the percentage change in the Fund's NAV from
the first day of the fiscal year to this month end, including
distributions paid and assuming reinvestment of those
distributions.
|
(5)
|
Fiscal YTD Cumulative
Distribution Rate is the dollar value of distributions from the
first day of the fiscal year to this month end as a percentage of
the Fund's NAV at month end.
|
|
|
|
|
The amounts and sources 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.
About the Fund
Virtus Dividend, Interest & Premium Strategy Fund is a
diversified closed-end fund that seeks current income and gains,
with long-term capital appreciation as a secondary objective. The
Fund will generally invest approximately 75% of its total assets in
equity securities and approximately 25% in convertible securities.
The Fund will employ an option strategy of writing (selling)
covered call options on equity securities held in the Fund. The
equity portion of the Fund generally invests in U.S. equities and
American depositary receipts (ADRs) with attractive quality
characteristics, shareholder yield, and consistent financial
output. Virtus Investment Advisers, Inc. is the investment adviser
to the Fund and NFJ Investment Group is its subadviser.
For more information on the Fund, contact shareholder services
at (866) 270-7788, by email at closedendfunds@virtus.com, or
through the Closed-End Funds section of 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 NFJ Investment Group
NFJ Investment Group, an affiliated manager of Virtus Investment
Partners, is a global value equity manager with a rich heritage and
deep roots in Dallas, dating to
1989. NFJ is unwavering in its commitment to investing at the
intersection of value, quality, and shareholder yield, seeking to
identify companies with the strongest prospects for returning
capital to shareholders and with low market expectations.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The
company provides investment management products and services
through its affiliated managers and select subadvisers, each with a
distinct investment style, autonomous investment process, and
individual brand. For
more information, visit virtus.com.
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SOURCE Virtus Dividend, Interest & Premium Strategy Fund