HARTFORD, Conn., Dec. 7, 2018 /PRNewswire/ -- Virtus Global
Dividend & Income Fund Inc. (NYSE: ZTR) previously announced
the following monthly distribution on November 14, 2018:
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
$0.113
|
December 12,
2018
|
December 13,
2018
|
December 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."
The fund provided this estimate of the sources of the
distribution:
Distribution
Estimates
|
November 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
|
$0.027
|
23.9%
|
$0.339
|
27.2%
|
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)
|
0.086
|
76.1%
|
0.904
|
72.8%
|
Total
Distribution
|
$0.113
|
100.0%
|
$1.243
|
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.
November 30,
2018
|
|
|
Average Annual
Total Return on NAV for the 5-year period
(2)
|
3.23%
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
11.79%
|
|
YTD Cumulative
Total Return on NAV (4)
|
-9.67%
|
|
YTD Cumulative
Distribution Rate (5)
|
11.79%
|
|
(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, 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 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. 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/virtus-global-dividend--income-fund-discloses-sources-of-distribution--section-19a-notice-300761986.html
SOURCE Virtus Global Dividend & Income Fund Inc.