HARTFORD, Conn., Dec. 20,
2022 /PRNewswire/ -- Virtus Diversified Income &
Convertible Fund (NYSE: ACV), announced the following special
year-end distribution on its common shares. This special year-end
distribution, which is in addition to the regular monthly
distribution paid on its common shares, is being paid by the Fund
pursuant to certain federal tax requirements.
|
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
|
$0.196 per
share
|
December 29,
2022
|
December 30,
2022
|
January 10,
2023
|
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.
The Fund provided this estimate of the sources of the
distributions:
|
Distribution
Estimates
|
Special Year-End
Distribution Sources
|
Fiscal
Year-to-Date
(YTD) (1)
|
|
(Sources)
|
Per
Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
|
Net Investment
Income
|
$
-
|
0.0 %
|
$ 0.005
|
0.2 %
|
|
Net Realized Short-Term
Capital Gains
|
-
|
0.0 %
|
0.602
|
27.7 %
|
|
Net Realized Long-Term
Capital Gains
|
0.196
|
100.0 %
|
1.569
|
72.1 %
|
|
Return of Capital (or
other Capital Source)
|
-
|
0.0 %
|
-
|
0.0 %
|
|
Total
Distribution
|
$ 0.196
|
100.0 %
|
$ 2.176
|
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. 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.
|
November 30,
2022
|
|
|
|
Average Annual Total
Return on NAV for the 5-year period (2)
|
10.93 %
|
|
|
Annualized Current
Distribution Rate (3)
|
10.08 %
|
|
|
Fiscal YTD
Cumulative Total Return on NAV (4)
|
-14.93 %
|
|
|
Fiscal YTD
Cumulative Distribution Rate (5)
|
9.31 %
|
|
|
(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)
|
Annualized Current
Distribution Rate is the current distribution rate ($0.18 per
share) 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 (inclusive of the
special year-end distribution) as a percentage of the Fund's NAV at
month end. The Fiscal YTD Cumulative Distribution Rate would be
8.40% if the special year-end distribution of $0.196 per share was
excluded.
|
|
|
|
|
About the Fund
Virtus Diversified Income & Convertible Fund is a
diversified closed-end fund that seeks to provide total return
through a combination of current income and capital appreciation,
while seeking to provide downside protection against capital loss.
The Fund strives to dynamically allocate across convertibles,
equities, and income-producing securities. The Fund normally
invests at least 50% of total managed assets in convertibles and
has the latitude to write covered call options on the stocks held
in the equity portion. Virtus Investment Advisers, Inc. is the
investment adviser to the Fund and Voya Investment
Management 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.
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SOURCE Virtus Diversified Income & Convertible Fund
