Virtus Equity & Convertible Income Fund (NYSE:NIE) Increases Dividend to $0.58 Per Share

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Wednesday, June 3rd. Investors of record on Monday, June 15th will be given a dividend of 0.58 per share on Monday, June 29th. This represents a c) annualized dividend and a yield of 8.6%. 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 Price Performance

NYSE:NIE opened at $27.03 on Thursday. Virtus Equity & Convertible Income Fund has a one year low of $22.74 and a one year high of $27.19. The company’s 50-day simple moving average is $25.48 and its 200 day simple moving average is $25.28.

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.