HARTFORD, Conn., Aug. 2,
2019 /PRNewswire/ -- Virtus Global Dividend & Income Fund
Inc. (NYSE: ZTR) previously announced the following monthly
distribution on May 22, 2019:
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
$0.113
|
August 9,
2019
|
August 12,
2019
|
August 19,
2019
|
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."
The Fund provided this estimate of the sources of the
distribution:
Distribution
Estimates
|
July 2019
(MTD)
|
Year-to-date
(YTD)(1)
|
(Sources)
|
Per
Share
Amount
|
Percentage
of Current
Distribution
|
Per
Share
Amount
|
Percentage
of Current
Distribution
|
Net Investment
Income
|
$0.008
|
7.0%
|
$0.189
|
20.9%
|
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)
|
0.105
|
93.0%
|
0.715
|
79.1%
|
Total
Distribution
|
$0.113
|
100.0%
|
$0.904
|
100.0%
|
(1)
|
YTD December 1, 2018
to November 30, 2019.
|
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,
2019
|
|
|
Average Annual
Total Return on NAV for the 5-year period
(2)
|
3.17%
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
13.15%
|
|
YTD Cumulative
Total Return on NAV (4)
|
6.92%
|
|
YTD Cumulative
Distribution Rate (5)
|
8.77%
|
|
(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
Form 1099-DIV for the calendar year that will tell shareholders
what distributions to report for federal income tax
purposes.
About the Fund
Virtus Global Dividend &
Income Fund Inc. 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, invested in what the managers believe are high-quality,
high yielding global companies, and 40 percent fixed income,
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 September 7, 2016 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 Funds section of 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 of closed-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, an affiliated manager of Virtus Investment
Partners, provides comprehensive fixed income portfolio management
in multiple strategies. The Newfleet Multi-Sector Strategies team
that manages the Virtus Global Dividend & Income Fund Inc.
leverages the knowledge and skill 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. 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. The
company provides investment management products and services
through its affiliated managers and select subadvisers, each with a
distinct investment style, autonomous investment process, and
individual brand. For
more information, visit www.virtus.com.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/virtus-global-dividend--income-fund-inc-discloses-sources-of-distribution--section-19a-notice-300895839.html
SOURCE Virtus Global Dividend & Income Fund Inc.