Virtus Convertible & Income Fund II (NYSE:NCZ) Increases Dividend to $0.12 Per Share

Virtus Convertible & Income Fund II (NYSE:NCZ) declared 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 a boost from Virtus Convertible & Income Fund II’s previous monthly dividend of $0.03.

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

Virtus Convertible & Income Fund II Price Performance

NYSE:NCZ traded up $0.01 on Friday, reaching $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 12-month low of $2.70 and a 12-month high of $3.27. The stock has a 50 day moving average price of $3.11 and a 200 day moving average price of $2.99.

About Virtus Convertible & Income Fund II

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.