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Virtus Dividend, Interest & Premium Strategy Fund Declares Distribution and Discloses Sources of Distribution -- Section 19(a) Notice

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Mar 07, 2022
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PR Newswire

HARTFORD, Conn., March 7, 2022 /PRNewswire/ -- Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ), today announced the following quarterly distribution:

Virtus_Funds_Logo.jpg

Ticker

Amount of Distribution

Ex-Date

Record Date

Payable Date

NFJ

$0.245

June 10, 2022

June 13, 2022

June 24, 2022

The Fund previously announced the following quarterly distribution on December 17, 2021:

Ticker

Amount of Distribution

Ex-Date

Record Date

Payable Date

NFJ

$0.245

March 11, 2022

March 14, 2022

March 25, 2022

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 provided this estimate of the sources of the distributions:

Distribution Estimates

March 2022 (QTD)

Fiscal Year-to-Date (YTD)(1)

(Sources)

Per Share

Amount

Percentage of Current Distribution

Per Share Amount

Percentage

of Current Distribution

Net Investment Income

$ 0.012

4.9%

$ 0.012

4.9%

Net Realized Short-Term Capital Gains

0.233

95.1%

0.233

95.1%

Net Realized Long-Term Capital Gains

-

0.0%

-

0.0%

Return of Capital (or other Capital Source)

-

0.0%

-

0.0%

Total Distribution

$ 0.245

100.0%

$ 0.245

100.0%







(1) Fiscal year started February 1, 2022

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.

February 28, 2022



Average Annual Total Return on NAV for the 5-year period (2)

7.84%


Current Fiscal YTD Annualized Distribution Rate (3)

6.25%


Fiscal YTD Cumulative Total Return on NAV (4)

-3.98%


Fiscal YTD Cumulative Distribution Rate (5)

1.56%


(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)

Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund's NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.

(5)

Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal 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 for tax purposes 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 you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

About the Fund

Virtus Dividend, Interest & Premium Strategy Fund is a diversified closed-end fund that seeks current income and gains, with long-term capital appreciation as a secondary objective. The Fund will generally invest approximately 75% of its total assets in equity securities and approximately 25% in convertible securities. The Fund will employ an option strategy of writing (selling) covered call options on equity securities held in the Fund. The equity portion of the Fund generally invests in U.S. equities and American depositary receipts (ADRs) with attractive quality characteristics, shareholder yield, and consistent financial output. Virtus Investment Advisers, Inc. is the investment adviser to the Fund and NFJ Investment Group is its subadviser.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at [email protected], or through the Closed-End Funds section of 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 premium or discount to their net asset value. For more information about the 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 NFJ Investment Group

NFJ Investment Group, an affiliated manager of Virtus Investment Partners, is a global value equity manager with a rich heritage and deep roots in Dallas, dating to 1989. NFJ is unwavering in its commitment to investing at the intersection of value, quality, and shareholder yield, seeking to identify companies with the strongest prospects for returning capital to shareholders and with low market expectations.

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 virtus.com.

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SOURCE Virtus Dividend, Interest & Premium Strategy Fund

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