Virtus Dividend, Interest & Premium Strategy Fund Announces Share Repurchase Program

By: Virtus Dividend, Interest and Premium Strategy Fund via Business Wire

February 18, 2025 at 09:00 AM EST

Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) (the “Fund”), a closed-end fund, today announced that the Board of Trustees has adopted a share repurchase program to repurchase, at a discount to net asset value (“NAV”), up to 5% of its outstanding common shares (based on common shares outstanding as of February 13, 2025) in open market transactions.

The share repurchase program is intended to enhance shareholder value, as repurchases made at a discount may have the effect of increasing the NAV per share of the Fund's remaining shares. In addition, repurchases of closed-end fund shares may at times represent attractive investment opportunities for the Fund.

Pursuant to the share repurchase program, the Fund may, from time to time and at the discretion of management personnel and depending on price and prevailing market and business conditions, purchase shares of the Fund in the open market when the Fund is trading at a discount to its NAV. The Fund’s repurchase activity will be disclosed in the annual and semi-annual reports to shareholders.

There is no assurance that the Fund will purchase shares at any particular discount levels or in any particular amounts or that the market price of the Fund’s shares, either absolutely or relative to NAV, will increase as a result of share repurchases. Any repurchases made under the program will be subject to exchange requirements and volume, timing, and other limitations under federal securities laws.

This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of shares in the Fund in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

About the Fund

Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) is a diversified closed-end fund that seeks current income and gains, with long-term capital appreciation as a secondary objective. The Fund generally invests approximately 75% of its total assets in equity securities and approximately 25% in convertible securities. The Fund employs an option strategy of writing (selling) covered call options on equity securities held in the Fund. Virtus Investment Advisers, LLC is the investment adviser to the Fund, and NFJ Investment Group and Voya Investment Management are its subadvisers.

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 Virtus Investment Partners, Inc.

Virtus Investment Partners (NYSE: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.

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(866) 270-7788

closedendfunds@virtus.com

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Virtus Dividend, Interest & Premium Strategy Fund Announces Share Repurchase Program

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