Virtus Dividend, Interest & Premium Strategy Fund Announces Distribution and Discloses Sources of Distribution – Section 19(a) Notice
16 März 2023 - 9:15PM
Business Wire
Virtus Dividend, Interest & Premium Strategy Fund (NYSE:
NFJ), today announced the following quarterly distribution:
Ticker
Amount of Distribution
Ex-Date
Record Date
Payable Date
NFJ
$0.245
June 9, 2023
June 12, 2023
June 23, 2023
The Fund previously announced the following quarterly
distribution on January 12, 2023:
Ticker
Amount of Distribution
Ex-Date
Record Date
Payable Date
NFJ
$0.245
March 10, 2023
March 13, 2023
March 24, 2023
Under the terms of its Managed Distribution Plan, the Fund will
seek to maintain a consistent distribution level that may be paid,
in part or in full, from net investment income and realized capital
gains, or a combination thereof. Shareholders should note, however,
that if the Fund's aggregate net investment income and net realized
capital gains are less than the amount of the distribution level,
the difference will be distributed from the Fund's assets and will
constitute a return of the shareholder's capital. You should not
draw any conclusions about the Fund’s investment performance from
the amount of this distribution or from the terms of the Fund’s
Managed Distribution Plan.
The Fund provided this estimate of the sources of the March
distribution:
Distribution Estimates
March 2023 (QTD)
Fiscal Year-to-Date
(YTD)(1)
(Sources)
Per Share
Amount
Percentage of Current
Distribution
Per Share Amount
Percentage of Current
Distribution
Net Investment Income
$
0.124
50.6%
$
0.124
50.6%
Net Realized Short-Term Capital Gains
$
0.034
13.9%
$
0.034
13.9%
Net Realized Long-Term Capital Gains
$
0.087
35.5%
$
0.087
35.5%
Return of Capital (or other Capital
Source)
$
-
0.00%
$
-
0.00%
Total Distribution
$
0.245
100.0%
$
0.245
100.0%
(1) Fiscal year started February 1,
2023.
Information regarding the Fund’s performance and distribution
rates is set forth below. Please note that all performance figures
are based on the Fund’s NAV and not the market price of the Fund’s
shares. Performance figures are not meant to represent individual
shareholder performance.
February 28, 2023
Average Annual Total Return on NAV for the
5-year period (2)
4.98%
Annualized Current Distribution Rate
(3)
7.15%
Fiscal YTD Cumulative Total Return on NAV
(4)
-3.45%
Fiscal YTD Cumulative Distribution Rate
(5)
1.79%
(2)
Average Annual Total Return on
NAV is the annual compound return for the five-year period. It
reflects the change in the Fund’s NAV and reinvestment of all
distributions.
(3)
Annualized Current Distribution
Rate is the current distribution rate annualized as a percentage of
the Fund's NAV at month end.
(4)
Fiscal YTD Cumulative Total
Return on NAV is the percentage change in the Fund's NAV from the
first day of the fiscal year to this month end, including
distributions paid and assuming reinvestment of those
distributions.
(5)
Fiscal YTD Cumulative
Distribution Rate is the dollar value of distributions expected to
be paid from the first day of the fiscal year through the next
calendar quarter end as a percentage of the Fund's NAV at month
end.
The amounts and sources 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 you a
Form 1099-DIV for the calendar year that will tell you what
distributions to report for federal income tax purposes.
About the Fund
Virtus Dividend, Interest & Premium Strategy Fund is a
diversified closed-end fund that seeks current income and gains,
with long-term capital appreciation as a secondary objective. The
Fund will generally invest approximately 75% of its total assets in
equity securities and approximately 25% in convertible securities.
The Fund will employ an option strategy of writing (selling)
covered call options on equity securities held in the Fund. Virtus
Investment Advisers, Inc. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230316005546/en/
For Further Information:
Shareholder Services (866) 270-7788 closedendfunds@virtus.com
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