NCV: Dividend Coverage Improved But High Interest Rates Threaten Growth

Virtus Convertible & Income Fund remains a hold as growth potential is limited by elevated interest rates and aggressive leverage. NCV trades at a 10.62% discount to NAV and offers a 10% yield, but persistent NAV erosion and spotty dividend history raise sustainability concerns. Net investment income has declined, making distributions reliant on net realized gains and return of capital, which undermines long-term NAV stability.

Seeking Alpha • Apr 18, 2026

Virtus Convertible & Income Fund Announces Quarterly Distribution: 5.625% Series A Cumulative Preferred Shares

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) announced today that it has declared a $0.3515625 per share cash distribution payable on March 31, 2026 to Series A cumulative preferred shareholders of record on March 24, 2026. The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCV PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.40625 per share. The 4,000,000 Series A Cumulative Pref.

Business Wire • Mar 4, 2026

Virtus Convertible & Income Fund and Virtus Convertible & Income Fund II Announce Monthly Distributions

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) today announced the following distributions on their respective common shares: Virtus Convertible & Income Fund: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NCV $0.136 March 16, 2026 March 30, 2026 NCV $0.136 April 13, 2026 April 29, 2026 NCV $0.136 May 11, 2026 May 28, 2026 Virtus Convertible & Income Fund II: Ticker Amount of Dis.

Business Wire • Mar 4, 2026

NCV: Declining Payouts And Limited NAV Growth

Virtus Convertible & Income Fund offers a high 10.6% yield and trades at a 10.7% discount to NAV but faces significant risks. NCV's dividend payouts have declined consistently over the past decade, with recent distributions increasingly funded by return of capital, raising sustainability concerns. The fund's high leverage (34.4%) and large exposure to below-investment-grade and unrated securities amplify risk, especially in a high interest rate environment.

Seeking Alpha • Oct 24, 2025

Stability And Profitability: What NCV.PR.A Hides With Over 6.5% Current Yield

NCV.PR.A offers a stable 6.5% yield with cumulative dividends, ideal for investors seeking reliable passive income with moderate risk. Backed by Virtus Convertible & Income Fund, NCV.PR.A benefits from a diversified, quality portfolio and a strong 'A' Fitch credit rating. The preferred stock trades at $21.61, with its call date passed, providing attractive value and potential price stability for income-focused investors.

Seeking Alpha • Aug 14, 2025

NCV: Appealing Discount But Weak Track Record To Peers

NCV trades at a historically wide discount, making the current valuation more attractive, but its long-term performance lags convertible CEF peers. The fund's high distribution yield appears unsustainable, with frequent past cuts and significant return of capital, signaling caution for income-focused investors. NAV erosion and a recent reverse split highlight challenges this fund has faced, and leverage remains high, increasing risk during market downturns.

Seeking Alpha • Jun 28, 2025

NCV: A Fully Covered 12% Yield That Is Hard To Ignore

Virtus Convertible & Income Fund offers a 12% yield, providing high income with equity-like protection against currency devaluation. There is a very high probability that the United States will struggle to avoid currency devaluation going forward. The NCV closed-end fund's distribution is fully covered by investment income and realized gains, supporting the sustainability of its high yield for now.

Seeking Alpha • Jun 16, 2025

Virtus Closed-End Funds Announce Results of Joint Annual Meeting of Shareholders

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), Virtus Convertible & Income Fund (NYSE: NCV), Virtus Convertible & Income Fund II (NYSE: NCZ), Virtus Diversified Income & Convertible Fund (NYSE: ACV), Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ), Virtus Equity & Convertible Income Fund (NYSE: NIE), Virtus Global Multi-Sector Income Fund (NYSE: VGI), Virtus Stone Harbor Emerging Markets Income.

Business Wire • Jun 3, 2025

NCV: High Yield And Fully Covered Distribution

The Virtus Convertible & Income Fund offers a high yield of 12.37%, but has struggled with negative real returns and distribution cuts over the past decade. The NCV closed-end fund invests primarily in convertible bonds, which have better inflation protection than traditional bonds, but its management has underperformed relative to indices. Recent performance has been volatile, with a slight gain of 1.46% over ten months, but distributions have helped offset share price declines.

Seeking Alpha • Mar 21, 2025

NCV, NCZ Announces Date of Reverse Stock Splits

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced that a 1-for-4 reverse stock split of the issued and outstanding shares of each Fund will be effective as of the start of trading on Monday, February 10, 2025 (“Effective Date”). The reverse stock splits were previously announced, approved by each Fund's board, and are intended to enhance shareholder value. As a result of the reverse stock splits,.

Business Wire • Feb 3, 2025