HARTFORD, Conn., Oct. 3, 2018 /PRNewswire/ -- 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."
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 fiscal year-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 the 5-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's year-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 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 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 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 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 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 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. 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.
For Further Information:
Shareholder Services
(866) 270-7788
closedendfunds@virtus.com
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SOURCE Virtus Global Dividend & Income Fund Inc.