Virtus Convertible (NYSE:NCZ) Stock, Quote.Headers.trade-ideas

Virtus Convertible

Virtus Convertible & Income Fund II is a diversified, closed-end management investment company. Its investment objective is to provide total return through a combination of capital appreciation and high current income. Its portfolio of investments includes different sector investments such as in healthcare services, media, oil, gas and consumable fuels and others.

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Virtus Convertible & Income Fund II Common Shares of Beneficial Interest

Virtus Convertible & Income Fund II

Virtus Convertible & Income Fund II 5.50% Series A Cumulative Preferred Shares

Thursday marks the last chance for investors to receive the next dividend payout from Virtus Convertible (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCZ#NYSE">NCZ</a>). 
<h3>What's Happening</h3>
The company announced on Friday that it would pay shareholders a monthly dividend of 3 cents per share. On Friday, Virtus Convertible will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 3 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own NCZ as of the end of Thursday's session are eligible to receive the 3 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on March 28, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Dividends

Virtus Convertible: Dividend Insights

HARTFORD, Conn.,&nbsp;Oct. 3, 2022&nbsp;/PRNewswire/ --&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3664923-1&amp;h=1883398333&amp;u=https%3A%2F%2Fwww.virtus.com%2Fproducts%2Fvirtus-convertible-income-fund-ii%23shareclass.N%2Fperiod.quarterly&amp;a=Virtus+Convertible+%26+Income+Fund+II" target="_blank">Virtus Convertible &amp; Income Fund II</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCZ#NYSE">NCZ</a>), a closed-end fund, today announced that it has postponed payment of its monthly distribution of&nbsp;$0.0375&nbsp;per common share that was scheduled to be paid on&nbsp;October 3, 2022&nbsp;to shareholders of record as of&nbsp;September 12, 2022, and has postponed declaration of its monthly distribution of&nbsp;$0.0375&nbsp;per common share that was scheduled to be declared on&nbsp;October 3, 2022&nbsp;for payment on&nbsp;November 1, 2022.
Recent market dislocations have caused the values of the Fund&#39;s portfolio securities to decline and, as a result, the Fund&#39;s asset coverage ratio for total leverage as of&nbsp;September 30, as calculated in accordance with the Investment Company Act of 1940, was below the&nbsp;200%&nbsp;minimum asset coverage guideline. Compliance with the asset coverage ratio is required by the Fund&#39;s governing documents for declaration or payment of the monthly distribution. As a result, the Fund is not authorized to declare or pay its monthly distribution until the coverage ratio is in compliance. The Fund intends to pay the&nbsp;October 3&nbsp;common share distribution and resume declaration and payment of its monthly common share distributions once its coverage ratio is in compliance.

Virtus Convertible & Income Fund II Postpones Monthly Distribution On Common Shares

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Virtus Convertible

Virtus Convertible (NCZ) Forecast

Virtus Convertible (NYSE:NCZ) Stock, Quote.Headers.trade-ideas