HARTFORD, Conn., March 1, 2017 /PRNewswire/ -- Virtus Global Dividend
& Income Fund Inc. (NYSE: ZTR) announced the following monthly distributions:
|
Amount of Distribution
|
Ex-Date
|
Record Date
|
Payable Date
|
|
$0.113
|
March 9, 2017
|
March 13, 2017
|
March 20, 2017
|
|
$0.113
|
April 11, 2017
|
April 13, 2017
|
April 21, 2017
|
|
$0.113
|
May 9, 2017
|
May 11, 2017
|
May 18, 2017
|
|
$0.113
|
June 8, 2017
|
June 12, 2017
|
June 19, 2017
|
Under the terms of the fund's managed distribution plan, the fund will seek to maintain a consistent distribution level that
may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders
should note, however, that if the fund's aggregate net investment income and net realized capital gains are less than the amount
of the distribution level, the difference will be distributed from the fund's assets and will constitute a return of the
shareholder's capital. You should not draw any conclusions about the fund's investment performance from the amount of this
distribution or from the terms of the fund's managed distribution plan.
The fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution
may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the
fund is paid back to you. A return of capital distribution does not necessarily reflect the fund's investment performance and
should not be confused with "yield" or "income."
The fund provided this estimate of the sources of the distributions:
|
Distribution Estimates
|
February 2017 (MTD)
|
Year-to-date (YTD) (1)
|
|
(Sources)
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
|
Net Investment Income
|
$0.033
|
28.9%
|
$0.059
|
25.8%
|
|
Net Realized Foreign Currency Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized Short-Term Capital Gains
|
-
|
0.0%
|
0.003
|
1.4%
|
|
Net Realized Long-Term Capital Gains
|
-
|
0.0%
|
0.068
|
30.2%
|
|
Return of Capital (or other Capital Source)
|
0.080
|
71.1%
|
0.096
|
42.6%
|
|
Total Distribution
|
$0.113
|
100.0%
|
$0.226
|
100.0%
|
|
|
(1) YTD January 11, 2017 to January 9, 2018. (The distribution paid on
January 10, 2017 was reportable
for tax on Form 1099 in 2016)
|
Information regarding the fund's performance and distribution rates is set forth below. Please note that all performance
figures are based on the fund's NAV and not the market price of the fund's shares. Performance figures are not meant to represent
individual shareholder performance.
|
February 28, 2017
|
|
|
|
Average Annual Total Return on NAV for the 5-year period ended this
quarter (2)
|
6.40%
|
|
|
Current Fiscal YTD Annualized Distribution Rate
(3)
|
10.80%
|
|
|
YTD Cumulative Total Return on NAV (4)
|
4.65%
|
|
|
YTD Cumulative Distribution Rate (5)
|
1.80%
|
|
|
|
|
(2)
|
Average Annual Total Return on NAV is the annual compound return for the
five-year
period. It reflects the change in the fund's NAV and reinvestment of all distributions.
|
|
(3)
|
Current Fiscal YTD Annualized Distribution Rate is the current distribution
rate annualized
as a percentage of the fund's NAV at month end.
|
|
(4)
|
YTD Cumulative Total Return on NAV is the percentage change in the fund's
NAV from the
first day of the year to this month end, including distributions paid and assuming reinvestment of
those distributions.
|
|
(5)
|
YTD Cumulative Distribution Rate is the dollar value of distributions from
the first day of the year to
this month end as a percentage of the fund's NAV at month end.
|
The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax
reporting purposes. The actual amounts and sources of the distributions will depend on the fund's investment experience during
the remainder of its fiscal year and may be subject to changes based on tax regulations. The fund will send shareholders a Form
1099-DIV for the calendar year that will tell shareholders what distributions to report for federal income tax purposes.
About the Fund
The Virtus Global Dividend & Income Fund is a diversified closed-end fund that seeks to generate total return, consisting
of capital appreciation and income. It currently targets an allocation of 60 percent equity securities and 40 percent fixed
income. The equity allocation is invested exclusively in what the managers believe are high-quality companies within the high
yielding global equity universe. The fixed income allocation is invested primarily in intermediate-term debt securities across 14
fixed income sectors. The fund also pursues an options income strategy whereby it purchases and sells out-of-the money puts and
calls, creating an options spread.
Virtus Investment Advisers has been the investment adviser to the fund and Kayne Anderson
Rudnick and Newfleet Asset Management have been subadvisers since September 7, 2016.
Performance and characteristics prior to that date were attained by the previous adviser using a different investment
strategy.
For more information on the fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the closed end fund section on
the web at www.virtus.com.
Fund Risks
An investment in the fund is subject to risk. The fund's shares may be worth less than what an investor paid for them when
they are sold. The options strategy may not be successful in its objective of increasing distributable income while limiting the
risk of loss and could result in increased losses for investors.
About Kayne Anderson Rudnick
Kayne Anderson
Rudnick (KAR) believes that superior risk-adjusted returns may be achieved through investment in high-quality companies with
market dominance, excellent management, financial strength, and consistent growth, purchased at reasonable prices. KAR's
investment strategy is to build a portfolio of companies that have strong, consistent growth with low business and financial
risk, and hold these companies over the long term based on its conviction that the investment returns of the portfolio will
mirror the financial results of these companies.
About Newfleet Asset Management
Newfleet Asset
Management provides comprehensive fixed income portfolio management in multiple strategies. Newfleet leverages the knowledge
and skill of a team of investment professionals with expertise in every sector of the bond market, including evolving,
specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio
construction, avoiding interest rate bets, and remaining duration neutral to each strategy's stated benchmark.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/virtus-global-dividend--income-fund-inc-declares-distributions-and-discloses-sources-of-distributions--section-19a-notice-300416353.html
SOURCE Virtus Investment Partners, Inc.