| | |
 | | 101 Munson Street Greenfield, MA 01301 |
| | |
| NEWS RELEASE | | FOR IMMEDIATE RELEASE |
For Further Information:
Shareholder Services
(866)270-7788
closedendfunds@virtus.com
Virtus Global Dividend & Income Fund
Dicloses Sources of Distribution — Section 19(a) Notice
Hartford, CT, June 7, 2018 — Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) previously announced the following monthly distribution on May 23, 2018:
| | | | | | |
Amount of Distribution | | Ex-Date | | Record Date | | Payable Date |
$0.113 | | June 8, 2018 | | June 11, 2018 | | June 18, 2018 |
Under the terms of its 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.”
Virtus Global Dividend & Income Fund Inc. - 2
The fund provided this estimate of the sources of the distribution:
| | | | | | | | | | | | | | | | |
Distribution Estimates | | May 2018 (MTD) | | | Year-to-date (YTD)(1) | |
(Sources) | | Per Share
Amount | | | Percentage
of Current
Distribution | | | Per Share
Amount | | | Percentage
of Current
Distribution | |
Net Investment Income | | $ | 0.026 | | | | 22.7 | % | | $ | 0.184 | | | | 32.5 | % |
Net Realized Foreign Currency Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Short-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Long-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Return of Capital (or other Capital Source) | | | 0.087 | | | | 77.3 | % | | | 0.381 | | | | 67.5 | % |
| | | | | | | | | | | | | | | | |
Total Distribution | | $ | 0.113 | | | | 100.0 | % | | $ | 0.565 | | | | 100.0 | % |
| | | | | | | | | | | | | | | | |
| (1) | YTD January 10, 2018 to January 9, 2019.(The distribution paid on January 9, 2018 was reportable for tax on Form 1099 in 2017) |
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.
| | | | |
May 31, 2018 | | | |
Average Annual Total Return on NAV for the5-year period(2) | | | 4.72 | % |
Current Fiscal YTD Annualized Distribution Rate(3) | | | 12.21 | % |
YTD Cumulative Total Return on NAV(4) | | | -10.57 | % |
YTD Cumulative Distribution Rate(5) | | | 5.09 | % |
| (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 or your broker will send shareholders a Form1099-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 Inc. is a diversifiedclosed-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.
Virtus Global Dividend & Income Fund Inc. - 3
The fixed income allocation is invested primarily in intermediate-term debt securities across 14 fixed income sectors. The fund also pursues an options overlay strategy that seeks to generate additional income.
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 a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss, and in periods of significant moves in the S&P 500® Index, has resulted in and, in the future, may result in, losses for investors. Shares ofclosed-end funds may trade at a discount to their net asset value. For more information about each fund’s investment objective and risks, please see the fund’s annual report. A copy of the fund’s most recent annual report may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.
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. For more information, visit www.kayne.com
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, andout-of-favor sectors.
Virtus Global Dividend & Income Fund Inc. - 4
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. The options overlay strategy is managed by a team at Newfleet distinct from the fixed income investment professionals. For more information, visit www.newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. For more information, visit www.virtus.com.
# # #
| | |
| | 101 Munson Street Greenfield, MA 01301 |
| | |
| NEWS RELEASE | | FOR IMMEDIATE RELEASE |
For Further Information:
Shareholder Services
(866)270-7788
closedendfunds@virtus.com
Virtus Global Dividend & Income Fund
Discloses Sources of Distribution — Section 19(a) Notice
Hartford, CT, July 9, 2018 — Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) previously announced the following monthly distribution on May 23, 2018:
| | | | | | |
Amount of Distribution | | Ex-Date | | Record Date | | Payable Date |
$0.113 | | July 11, 2018 | | July 12, 2018 | | July 19, 2018 |
Under the terms of its 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.”
Virtus Global Dividend & Income Fund Inc. - 2
The fund provided this estimate of the sources of the distribution:
| | | | | | | | | | | | | | | | |
Distribution Estimates | | June 2018 (MTD) | | | Year-to-date (YTD)(1) | |
(Sources) | | Per Share
Amount | | | Percentage
of Current
Distribution | | | Per Share
Amount | | | Percentage
of Current
Distribution | |
Net Investment Income | | $ | 0.025 | | | | 21.8 | % | | $ | 0.208 | | | | 30.7 | % |
Net Realized Foreign Currency Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Short-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Long-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Return of Capital (or other Capital Source) | | | 0.088 | | | | 78.2 | % | | | 0.470 | | | | 69.3 | % |
| | | | | | | | | | | | | | | | |
Total Distribution | | $ | 0.113 | | | | 100.0 | % | | $ | 0.678 | | | | 100.0 | % |
| | | | | | | | | | | | | | | | |
| (1) | YTD January 10, 2018 to January 9, 2019.(The distribution paid on January 9, 2018 was reportable for tax on Form 1099 in 2017) |
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.
| | | | |
June 29, 2018 | | | |
Average Annual Total Return on NAV for the5-year period(2) | | | 5.19 | % |
Current Fiscal YTD Annualized Distribution Rate(3) | | | 12.33 | % |
YTD Cumulative Total Return on NAV(4) | | | -10.55 | % |
YTD Cumulative Distribution Rate(5) | | | 6.16 | % |
| (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 or your broker will send shareholders a Form1099-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 Inc. is a diversifiedclosed-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.
Virtus Global Dividend & Income Fund Inc. - 3
The fixed income allocation is invested primarily in intermediate-term debt securities across 14 fixed income sectors. The fund also pursues an options overlay strategy that seeks to generate additional income.
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 a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss, and in periods of significant moves in the S&P 500® Index, has resulted in and, in the future, may result in, losses for investors. Shares ofclosed-end funds may trade at a discount to their net asset value. For more information about each fund’s investment objective and risks, please see the fund’s annual report. A copy of the fund’s most recent annual report may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.
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. For more information, visit www.kayne.com
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, andout-of-favor sectors.
Virtus Global Dividend & Income Fund Inc. - 4
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. The options overlay strategy is managed by a team at Newfleet distinct from the fixed income investment professionals. For more information, visit www.newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. For more information, visit www.virtus.com.
# # #
| | |
| | 101 Munson Street Greenfield, MA 01301 |
| | |
| NEWS RELEASE | | FOR IMMEDIATE RELEASE |
For Further Information:
Shareholder Services
(866)270-7788
closedendfunds@virtus.com
Virtus Global Dividend & Income Fund
Discloses Sources of Distribution — Section 19(a) Notice
Hartford, CT, August 2, 2018 — Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) previously announced the following monthly distribution on May 23, 2018:
| | | | | | |
Amount of Distribution | | Ex-Date | | Record Date | | Payable Date |
$0.113 | | August 10, 2018 | | August 13, 2018 | | August 20, 2018 |
Under the terms of its 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.”
Virtus Global Dividend & Income Fund Inc. - 2
The fund provided this estimate of the sources of the distribution:
| | | | | | | | | | | | | | | | |
Distribution Estimates | | July 2018 (MTD) | | | Year-to-date (YTD)(1) | |
(Sources) | | Per Share
Amount | | | Percentage
of Current
Distribution | | | Per Share
Amount | | | Percentage
of Current
Distribution | |
Net Investment Income | | $ | 0.009 | | | | 8.1 | % | | $ | 0.217 | | | | 27.5 | % |
Net Realized Foreign Currency Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Short-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Long-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Return of Capital (or other Capital Source) | | | 0.104 | | | | 91.9 | % | | | 0.574 | | | | 72.5 | % |
| | | | | | | | | | | | | | | | |
Total Distribution | | $ | 0.113 | | | | 100.0 | % | | $ | 0.791 | | | | 100.0 | % |
| | | | | | | | | | | | | | | | |
| (1) | YTD January 10, 2018 to November 30, 2018.(The distribution paid on January 9, 2018 was reportable for tax on Form 1099 in 2017. The Fund changed its fiscalyear-end to November 30 in 2018.) |
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.
| | | | |
July 31, 2018 | | | |
Average Annual Total Return on NAV for the5-year period(2) | | | 4.97 | % |
Current Fiscal YTD Annualized Distribution Rate(3) | | | 11.06 | % |
YTD Cumulative Total Return on NAV(4) | | | -7.67 | % |
YTD Cumulative Distribution Rate(5) | | | 7.04 | % |
| (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. The rate represents an 11 month period due to the Fund’syear-end change to 11/30. |
| (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 or your broker will send shareholders a Form1099-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 Inc. is a diversifiedclosed-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.
Virtus Global Dividend & Income Fund Inc. - 3
The fixed income allocation is invested primarily in intermediate-term debt securities across 14 fixed income sectors. The fund also pursues an options overlay strategy that seeks to generate additional income.
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 a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss, and in periods of significant moves in the S&P 500® Index, has resulted in and, in the future, may result in, losses for investors. Shares ofclosed-end funds may trade at a discount to their net asset value. For more information about each fund’s investment objective and risks, please see the fund’s annual report. A copy of the fund’s most recent annual report may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.
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. For more information, visit www.kayne.com
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, andout-of-favor sectors.
Virtus Global Dividend & Income Fund Inc. - 4
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. The options overlay strategy is managed by a team at Newfleet distinct from the fixed income investment professionals. For more information, visit www.newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. For more information, visit www.virtus.com.
# # #
| | |
| | 101 Munson Street Greenfield, MA 01301 |
| | |
| NEWS RELEASE | | FOR IMMEDIATE RELEASE |
For Further Information:
Shareholder Services
(866)270-7788
closedendfunds@virtus.com
Virtus Global Dividend & Income Fund
Discloses Sources of Distribution – Section 19(a) Notice
Hartford, CT, September 5, 2018 — Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) previously announced the following monthly distribution on May 23, 2018:
| | | | | | |
Amount of Distribution | | Ex-Date | | Record Date | | Payable Date |
$0.113 | | September 13, 2018 | | September 14, 2018 | | September 21, 2018 |
Under the terms of its 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.”
Virtus Global Dividend & Income Fund Inc. - 2
The fund provided this estimate of the sources of the distribution:
| | | | | | | | | | | | | | | | |
Distribution Estimates | | August 2018 (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 | | | | 29.6 | % | | $ | 0.251 | | | | 27.7 | % |
Net Realized Foreign Currency Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Short-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Long-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Return of Capital (or other Capital Source) | | | 0.080 | | | | 70.4 | % | | | 0.653 | | | | 72.3 | % |
| | | | | | | | | | | | | | | | |
Total Distribution | | $ | 0.113 | | | | 100.0 | % | | $ | 0.904 | | | | 100.0 | % |
| | | | | | | | | | | | | | | | |
| (1) | YTD January 10, 2018 to November 30, 2018.(The distribution paid on January 9, 2018 was reportable for tax on Form 1099 in 2017. The Fund changed its fiscalyear-end to November 30 in 2018.) |
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.
| | | | |
August 31, 2018 | | | |
Average Annual Total Return on NAV for the5-year period(2) | | | 5.38 | % |
Current Fiscal YTD Annualized Distribution Rate(3) | | | 11.18 | % |
YTD Cumulative Total Return on NAV(4) | | | -7.74 | % |
YTD Cumulative Distribution Rate(5) | | | 8.13 | % |
| (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. The rate represents an 11 month period due to the Fund’syear-end change to 11/30. |
| (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 or your broker will send shareholders a Form1099-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 Inc. is a diversifiedclosed-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.
Virtus Global Dividend & Income Fund Inc. - 3
The fixed income allocation is invested primarily in intermediate-term debt securities across 14 fixed income sectors. The fund also pursues an options overlay strategy that seeks to generate additional income.
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 a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss, and in periods of significant moves in the S&P 500® Index, has resulted in and, in the future, may result in, losses for investors. Shares ofclosed-end funds may trade at a discount to their net asset value. For more information about each fund’s investment objective and risks, please see the fund’s annual report. A copy of the fund’s most recent annual report may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.
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. For more information, visit www.kayne.com
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, andout-of-favor sectors.
Virtus Global Dividend & Income Fund Inc. - 4
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. The options overlay strategy is managed by a team at Newfleet distinct from the fixed income investment professionals. For more information, visit www.newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. For more information, visit www.virtus.com.
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| | |
| | 101 Munson Street Greenfield, MA 01301 |
| | |
| NEWS RELEASE | | FOR IMMEDIATE RELEASE |
For Further Information:
Shareholder Services
(866)270-7788
closedendfunds@virtus.com
Virtus Global Dividend & Income Fund
Discloses Sources of Distribution – Section 19(a) Notice
Hartford, CT, October 3, 2018 — Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) previously announced the following monthly distribution on September 19, 2018:
| | | | | | |
Amount of Distribution | | Ex-Date | | Record Date | | Payable Date |
$0.113 | | October 10, 2018 | | October 11, 2018 | | October 18, 2018 |
Under the terms of its 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.”
Virtus Global Dividend & Income Fund Inc. - 2
The fund provided this estimate of the sources of the distribution:
| | | | | | | | | | | | | | | | |
Distribution Estimates | | September 2018 (MTD) | | | Year-to-date (YTD)(1) | |
(Sources) | | Per Share
Amount | | | Percentage
of Current
Distribution | | | Per Share
Amount | | | Percentage
of Current
Distribution | |
Net Investment Income | | $ | 0.048 | | | | 42.9 | % | | $ | 0.299 | | | | 29.4 | % |
Net Realized Foreign Currency Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Short-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Long-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Return of Capital (or other Capital Source) | | | 0.065 | | | | 57.1 | % | | | 0.718 | | | | 70.6 | % |
| | | | | | | | | | | | | | | | |
Total Distribution | | $ | 0.113 | | | | 100.0 | % | | $ | 1.017 | | | | 100.0 | % |
| | | | | | | | | | | | | | | | |
| (1) | YTD January 10, 2018 to November 30, 2018.(The distribution paid on January 9, 2018 was reportable for tax on Form 1099 in 2017. The Fund changed its fiscalyear-end to November 30 in 2018.) |
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.
| | | | |
September 28, 2018 | | | |
Average Annual Total Return on NAV for the5-year period(2) | | | 5.08 | % |
Current Fiscal YTD Annualized Distribution Rate(3) | | | 11.15 | % |
YTD Cumulative Total Return on NAV(4) | | | -6.56 | % |
YTD Cumulative Distribution Rate(5) | | | 9.12 | % |
| (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. The rate represents an 11 month period due to the Fund’syear-end change to 11/30. |
| (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 or your broker will send shareholders a Form1099-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 Inc. is a diversifiedclosed-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.
Virtus Global Dividend & Income Fund Inc. - 3
The fixed income allocation is invested primarily in intermediate-term debt securities across 14 fixed income sectors. The fund also pursues an options overlay strategy that seeks to generate additional income.
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 a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss, and in periods of significant moves in the S&P 500® Index, has resulted in and, in the future, may result in, losses for investors. Shares ofclosed-end funds may trade at a discount to their net asset value. For more information about each fund’s investment objective and risks, please see the fund’s annual report. A copy of the fund’s most recent annual report may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.
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. For more information, visit www.kayne.com
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, andout-of-favor sectors.
Virtus Global Dividend & Income Fund Inc. - 4
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. The options overlay strategy is managed by a team at Newfleet distinct from the fixed income investment professionals. For more information, visit www.newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. For more information, visit www.virtus.com.
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| | |
| | 101 Munson Street Greenfield, MA 01301 |
| | |
| NEWS RELEASE | | FOR IMMEDIATE RELEASE |
For Further Information:
Shareholder Services
(866)270-7788
closedendfunds@virtus.com
Virtus Global Dividend & Income Fund
Discloses Sources of Distribution – Section 19(a) Notice
Hartford, CT, November 7, 2018 — Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) previously announced the following monthly distribution on September 19, 2018:
| | | | | | |
Amount of Distribution | | Ex-Date | | Record Date | | Payable Date |
$0.113 | | November 9, 2018 | | November 13, 2018 | | November 20, 2018 |
Under the terms of its 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.”
Virtus Global Dividend & Income Fund Inc. - 2
The fund provided this estimate of the sources of the distribution:
| | | | | | | | | | | | | | | | |
Distribution Estimates | | October 2018 (MTD) | | | Year-to-date (YTD)(1) | |
(Sources) | | Per Share
Amount | | | Percentage
of Current
Distribution | | | Per Share
Amount | | | Percentage
of Current
Distribution | |
Net Investment Income | | $ | 0.012 | | | | 10.9 | % | | $ | 0.312 | | | | 27.6 | % |
Net Realized Foreign Currency Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Short-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Net Realized Long-Term Capital Gains | | | — | | | | 0.0 | % | | | — | | | | 0.0 | % |
Return of Capital (or other Capital Source) | | | 0.101 | | | | 89.1 | % | | | 0.818 | | | | 72.4 | % |
| | | | | | | | | | | | | | | | |
Total Distribution | | $ | 0.113 | | | | 100.0 | % | | $ | 1.130 | | | | 100.0 | % |
| | | | | | | | | | | | | | | | |
| (1) | YTD January 10, 2018 to November 30, 2018.(The distribution paid on January 9, 2018 was reportable for tax on Form 1099 in 2017. The Fund changed its fiscalyear-end to November 30 in 2018.) |
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.
| | | | |
October 31, 2018 | | | |
Average Annual Total Return on NAV for the5-year period(2) | | | 2.98 | % |
Current Fiscal YTD Annualized Distribution Rate(3) | | | 12.07 | % |
YTD Cumulative Total Return on NAV(4) | | | -12.74 | % |
YTD Cumulative Distribution Rate(5) | | | 10.97 | % |
| (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. The rate represents an 11 month period due to the Fund’syear-end change to 11/30. |
| (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 or your broker will send shareholders a Form1099-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 Inc. is a diversifiedclosed-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.
Virtus Global Dividend & Income Fund Inc. - 3
The fixed income allocation is invested primarily in intermediate-term debt securities across 14 fixed income sectors. The fund also pursues an options overlay strategy that seeks to generate additional income.
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. Rampart Investment Management has been a subadviser since October 15, 2018. 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 a fund is subject to risk, including the risk of possible loss of principal. A fund’s shares may be worth less upon their sale than what an investor paid for them. The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss, and in periods of significant moves in the S&P 500® Index, has resulted in and, in the future, may result in, losses for investors. Shares ofclosed-end funds may trade at a discount to their net asset value. For more information about each fund’s investment objective and risks, please see the fund’s annual report. A copy of the fund’s most recent annual report may be obtained free of charge by contacting “Shareholder Services” as set forth at the end of this press release.
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. For more information, visit www.kayne.com
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, andout-of-favor sectors.
Virtus Global Dividend & Income Fund Inc. - 4
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. For more information, visit www.newfleet.com.
About Rampart Investment Management
Rampart Investment Management is an affiliated manager of Virtus Investment Partners specializing in option strategies. A registered investment adviser since 1983, Rampart manages client positions and portfolios using domestic and international index and equity options.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. For more information, visit www.virtus.com.
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