Virtus Equity & Convertible Income Fund (NIE) to Issue Quarterly Dividend of $0.58 on June 29th

Virtus Equity & Convertible Income Fund (NYSE:NIE) declared a quarterly dividend on Wednesday, June 3rd. Stockholders of record on Monday, June 15th will be paid a dividend of 0.58 per share on Monday, June 29th. This represents a c) annualized dividend and a dividend yield of 8.5%. The ex-dividend date is Monday, June 15th. This is a 16.0% increase from Virtus Equity & Convertible Income Fund’s previous quarterly dividend of $0.50.

Virtus Equity & Convertible Income Fund Trading Up 0.2%

Shares of NIE opened at $27.14 on Friday. The stock has a 50-day simple moving average of $25.56 and a 200-day simple moving average of $25.29. Virtus Equity & Convertible Income Fund has a 1 year low of $22.74 and a 1 year high of $27.24.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund (NYSE:NIE) is a diversified, closed-end management investment company designed to provide shareholders with a combination of current income and capital appreciation. The fund seeks to achieve its objectives by investing predominantly in convertible securities of U.S. and non-U.S. issuers alongside selected common stocks. Leveraging the hybrid characteristics of convertibles, the fund aims to capture income potential while maintaining exposure to equity market upside.

The fund’s investment strategy centers on a flexible allocation between fixed-income and equity components, with portfolio managers conducting rigorous credit and equity research to identify issuers offering attractive risk-reward profiles.