Virtus Equity & Convertible Income Fund to Issue Quarterly Dividend of $0.50 (NYSE:NIE)

Virtus Equity & Convertible Income Fund (NYSE:NIE) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 0.50 per share on Friday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 8.31%. The ex-dividend date is Thursday, March 13th.

Virtus Equity & Convertible Income Fund has increased its dividend by an average of 9.6% per year over the last three years.

Virtus Equity & Convertible Income Fund Stock Up 0.8 %

NIE stock traded up $0.19 during midday trading on Thursday, hitting $24.07. 60,847 shares of the stock traded hands, compared to its average volume of 66,017. The stock’s fifty day simple moving average is $23.23 and its 200-day simple moving average is $22.85. Virtus Equity & Convertible Income Fund has a 1-year low of $20.10 and a 1-year high of $24.21.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity 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 the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.