Virtus Convertible & Income Fund (NYSE:NCV) Increases Dividend to $0.14 Per Share

Virtus Convertible & Income Fund (NYSE:NCV) declared a monthly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Thursday, March 13th will be given a dividend of 0.136 per share by the investment management company on Friday, March 28th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 44.59%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Virtus Convertible & Income Fund’s previous monthly dividend of $0.03.

Virtus Convertible & Income Fund has decreased its dividend payment by an average of 3.8% per year over the last three years.

Virtus Convertible & Income Fund Stock Up 0.5 %

NYSE NCV traded up $0.02 during midday trading on Friday, hitting $3.66. 583,102 shares of the company traded hands, compared to its average volume of 516,748. Virtus Convertible & Income Fund has a 52 week low of $3.02 and a 52 week high of $3.68. The company’s 50-day simple moving average is $3.49 and its 200-day simple moving average is $3.38.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.