Virtus Equity & Convertible Income Fund (NYSE:NIE) to Issue Quarterly Dividend of $0.50

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Investors of record on Thursday, June 12th will be given a dividend of 0.50 per share on Friday, June 27th. This represents a $2.00 annualized dividend and a dividend yield of 8.61%. The ex-dividend date is Thursday, June 12th.

Virtus Equity & Convertible Income Fund has raised its dividend by an average of 9.6% per year over the last three years.

Virtus Equity & Convertible Income Fund Stock Up 0.5 %

Shares of Virtus Equity & Convertible Income Fund stock traded up $0.11 during trading on Friday, hitting $23.22. The company’s stock had a trading volume of 60,166 shares, compared to its average volume of 64,516. The company has a fifty day simple moving average of $24.53 and a two-hundred day simple moving average of $23.82. Virtus Equity & Convertible Income Fund has a 52 week low of $20.75 and a 52 week high of $25.44.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.