Virtus Convertible & Income Fund II (NYSE:NCZ) to Issue Monthly Dividend of $0.12

Virtus Convertible & Income Fund II (NYSE:NCZ) 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 0.12 per share by the investment management company on Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 44.17%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Virtus Convertible & Income Fund II’s previous monthly dividend of $0.03.

Virtus Convertible & Income Fund II has decreased its dividend by an average of 3.6% annually over the last three years.

Virtus Convertible & Income Fund II Price Performance

NCZ opened at $3.26 on Friday. The firm has a 50 day moving average price of $3.11 and a 200-day moving average price of $2.99. Virtus Convertible & Income Fund II has a twelve month low of $2.70 and a twelve month high of $3.27.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II 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.