Virtus Convertible & Income Fund
NCVFinancial Services · Stock · monthly payer
Forward Yield
9.44%
Annual Dividend
$1.63
Payout Ratio
44%
5-Yr Growth
-5.7%
Ex-Date
Aug 13, 2026
Frequency
Monthly
Summary
As of August 2026, Virtus Convertible & Income Fund (NCV) yields 9.44% ($1.63 per share annually), with a blended fair-value estimate of $21.23 — +23% upside, so it screens as undervalued. Dividend safety grade: C (64/100).
Is NCV a good dividend stock?
Yes, with caveatsVirtus Convertible & Income Fund (NCV) pays a monthly dividend yielding 9.44% ($1.63/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
- Comfortable payout ratio (44%)
Risks
- Cut its dividend in 2023
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 9.44%
- Payout Ratio
- 44%
- Annual Dividend
- $1.63
- 5-Yr Avg Growth
- -5.7%
- Ex-Dividend Date
- Aug 13, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 1.19
- Market Cap
- —
- P/E Ratio
- 4.7
- 5-Yr Total Return
- -30%
- 52-Week Range
- $14.27 – $17.65
- Dividend Safety
- C · 64/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
NCV Price — Last 12 Months
Daily close
Price Return
1 Year
+17%
3 Years
+28%
5 Years
-30%
52-Week Range
$14.27 – $17.65
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NCV worth?
Undervaluedhigh confidenceOur blended fair-value estimate for Virtus Convertible & Income Fund is $21.23 per share, versus a market price of $17.25. That implies 23% of upside — a margin of safety of about 19%.
Fair Value
$21.23
Current Price
$17.25
Upside
+23%
Margin of Safety
19%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model -4.6% — below our estimate, leaving room for upside if the business executes.
Assumptions: 10.3% discount rate (CAPM), -4.6% stage-1 growth, 2.5% terminal growth, $3.72 EPS, $1.63 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NCV Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 13, 2026 | — | $0.1360 | regular |
| Jun 15, 2026 | — | $0.1360 | regular |
| May 11, 2026 | — | $0.1360 | regular |
| Apr 13, 2026 | — | $0.1360 | regular |
| Mar 16, 2026 | — | $0.1360 | regular |
| Feb 12, 2026 | — | $0.1360 | regular |
| Jan 12, 2026 | — | $0.1360 | regular |
| Dec 11, 2025 | — | $0.1360 | regular |
| Nov 13, 2025 | — | $0.1360 | regular |
| Oct 14, 2025 | — | $0.1360 | regular |
| Sep 12, 2025 | — | $0.1360 | regular |
| Aug 11, 2025 | — | $0.1360 | regular |
| Jul 11, 2025 | — | $0.1360 | regular |
| Jun 12, 2025 | — | $0.1360 | regular |
Income Calculator
At $1.63 / yr per share
