Virtus Convertible & Income Fund II (NYSE:NCZ) Announces Dividend Increase – $0.12 Per Share

Virtus Convertible & Income Fund II (NYSE:NCZ) announced a monthly dividend on Friday, November 22nd,Wall Street Journal reports. Investors of record on Thursday, March 13th will be paid 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 yield of 44.04%. The ex-dividend date is Thursday, March 13th. This is an increase 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% per year over the last three years.

Virtus Convertible & Income Fund II Stock Performance

NCZ stock traded up $0.01 during midday trading on Friday, hitting $3.27. The company’s stock had a trading volume of 361,680 shares, compared to its average volume of 491,857. Virtus Convertible & Income Fund II has a 52-week low of $2.70 and a 52-week high of $3.27. The firm has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $2.99.

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.