HARTFORD, Conn., Sept. 13, 2017 /PRNewswire/ -- Virtus Global
Dividend & Income Fund Inc. (NYSE: ZTR) announced the following
monthly distributions:
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
$0.113
|
October 11,
2017
|
October 12,
2017
|
October 19,
2017
|
$0.113
|
November 10,
2017
|
November 13,
2017
|
November 20,
2017
|
Under the terms of the fund's 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
distributions:
Distribution
Estimates
|
August 2017
(MTD)
|
Year-to-date
(YTD) (1)
|
(Sources)
|
Per
Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
Net Investment
Income
|
$
0.028
|
24.7%
|
$
0.310
|
34.3%
|
Net Realized Foreign
Currency Gains
|
-
|
0.0%
|
-
|
0.0%
|
Net Realized
Short-Term Capital Gains
|
0.026
|
22.6%
|
0.278
|
30.8%
|
Net Realized
Long-Term Capital Gains
|
0.052
|
46.3%
|
0.309
|
34.1%
|
Return of Capital (or
other Capital Source)
|
0.007
|
6.4%
|
0.007
|
0.8%
|
Total
Distribution
|
$
0.113
|
100.0%
|
$
0.904
|
100.0%
|
|
|
|
|
|
(1) YTD January 11,
2017 to January 9, 2018. (The distribution paid on January 10, 2017
was reportable for tax on Form 1099 in 2016)
|
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,
2017
|
|
|
Average Annual
Total Return on NAV for the 5-year period ended this quarter
(2)
|
7.83%
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
10.60%
|
|
YTD Cumulative
Total Return on NAV (4)
|
12.64%
|
|
YTD Cumulative
Distribution Rate (5)
|
7.07%
|
|
|
|
|
(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 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 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 income
strategy whereby it purchases and sells out-of-the money puts and
calls, creating an options spread.
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. 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.
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.
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SOURCE Virtus Global Dividend & Income Fund Inc.