Virtus Funds Set 5.5% Preferred Dividend and Monthly Subfund Payouts
Virtus Convertible & Income Fund II set a 5.500% quarterly distribution on Series A cumulative preferred shares. Virtus subfunds announced monthly payouts for March through May: Total Return Fund (ZTR) $0.05, Artificial Intelligence & Technology Fund (AIO) $0.15, and Diversified Income & Convertible Fund (ACV) $0.18.
1. Virtus Convertible & Income Fund II Distribution
Virtus Convertible & Income Fund II declared a 5.500% quarterly distribution on its Series A cumulative preferred shares. The distribution will be paid to shareholders of record next quarter, providing a fixed preferred yield separate from common share payouts.
2. Monthly Distribution Schedules for Subfunds
Virtus Total Return Fund Inc. (ZTR) will pay $0.05 per share on March 30, April 29 and May 28 following ex-dates of March 16, April 13 and May 11. Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) will pay $0.15 per share on the same payable dates and ex-dates, while Virtus Diversified Income & Convertible Fund (ACV) will distribute $0.18 per share on those dates.
3. Breakdown of Distribution Sources
Under their managed distribution plans, ZTR’s $0.05 payout is funded 30% by net investment income, 6% by short-term gains and 64% by long-term gains. AIO’s $0.15 distribution comprises 4.4% net investment income and 95.6% long-term gains. ACV’s $0.18 payout is 5.8% net investment income and 94.2% short-term gains.