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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Virtus Convertible & Income Fund and Virtus Convertible & Income Fund II Announce Adjustments to Monthly Distributions

Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced that each fund will adjust the monthly distribution of its respective common shares effective with the April distribution payable May 1, 2023:

Virtus Convertible & Income Fund:

Ticker

Current Distribution Amount

New Distribution Amount

Ex-Date

Record Date

Payable Date

NCV

$0.0425

$0.034

April 12, 2023

April 13, 2023

May 1, 2023

NCV

$0.0425

$0.034

May 10, 2023

May 11, 2023

June 1, 2023

NCV

$0.0425

$0.034

June 9, 2023

June 12, 2023

July 3, 2023

Virtus Convertible & Income Fund II:

Ticker

Current Distribution Amount

New Distribution Amount

Ex-Date

Record Date

Payable Date

NCZ

$0.0375

$0.03

April 12, 2023

April 13, 2023

May 1, 2023

NCZ

$0.0375

$0.03

May 10, 2023

May 11, 2023

June 1, 2023

NCZ

$0.0375

$0.03

June 9, 2023

June 12, 2023

July 3, 2023

The 20% decrease in each fund’s monthly distribution reflects the increase in each fund’s respective cost of leverage, current and expected earnings, and the overall market environment.

The amounts 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 a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

About the Funds

Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) each have 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 and Voya Investment Management is the subadviser to each fund. For more information on the funds, 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 each fund’s investment objective and risks, please see the fund’s annual report. A copy of the most recent annual report may be obtained free of charge by contacting Shareholder Services.

Contacts

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