SmarterDividends
NCZ

Virtus Convertible & Income Fund II (NCZ) Dividend

Virtus Convertible & Income Fund II · Financial Services · Asset Management · monthly payer

$13.66

Undervalued · +80% Add to Portfolio

As of Nov 5, 2026, Virtus Convertible & Income Fund II (NCZ) pays a monthly dividend of $0.12 per share, or $1.44 a year, a 10.35% yield at its $13.66 share price. The next ex-dividend date is Nov 12, 2026, paid Nov 26, 2026. It has a dividend safety grade of B.

Forward Yield

10.35%

Annual Dividend

$1.44

Payout Ratio

32%

5-Yr Growth

-5.5%

Ex-Date

Nov 12, 2026

Frequency

Monthly

Key facts about NCZ's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 5, 2026, Virtus Convertible & Income Fund II (NCZ) has a forward dividend yield of 10.35%, based on an annual dividend of $1.44 per share and a share price of $13.66.
  • As of Nov 5, 2026, NCZ's dividend safety grade from SmarterDividends is B (68 out of 100), which rates the dividend as safe.
  • NCZ last cut its regular dividend in 2023.
  • NCZ's next ex-dividend date is Nov 12, 2026, with payment on Nov 26, 2026. Shares must be owned before that date to receive the dividend.
  • As of Nov 5, 2026, NCZ pays out 32% of its trailing 12-month earnings as dividends (its payout ratio).
  • NCZ's dividend has shrunk at an average rate of 5.5% a year over the past five years.
  • As of Nov 5, 2026, NCZ's 10.35% yield is 10% below its five-year average yield of 11.54%.
  • As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for NCZ is $24.61 per share, 80% above the $13.66 share price, so NCZ screens as undervalued.
  • Virtus Convertible & Income Fund II (NCZ) pays its dividend monthly, 12 times a year.
  • Virtus Convertible & Income Fund II (NCZ) has raised its regular dividend 1 time and cut it 5 times across the 280 payments on record since 2003. Its most recent change was a 21.1% cut to $0.120 per share, going ex-dividend on Apr 12, 2023.
Cite this page

SmarterDividends, "NCZ Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/NCZ

Is NCZ a good dividend stock?

Yes, with caveats

Virtus Convertible & Income Fund II (NCZ) pays a monthly dividend yielding 10.35% ($1.44/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Advantages

  • Comfortable payout ratio (32%)

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
10.35%
Payout Ratio
32%
Annual Dividend
$1.44
5-Yr Avg Growth
-5.5%
Ex-Dividend Date
Nov 12, 2026
Years of Growth
0
Frequency
monthly
Beta
1.24
Market Cap
$259.9M
P/E Ratio
3.1
5-Yr Total Return
-31%
52-Week Range
$12.95 – $16.17
Dividend Safety
B · 68/100
Ever Cut?
Yes (2023)

NCZ dividend raises and cuts

Virtus Convertible & Income Fund II (NCZ) has raised its regular dividend 1 time and cut it 5 times across the 280 payments on record since 2003. Its most recent change was a 21.1% cut to $0.120 per share, going ex-dividend on Apr 12, 2023.

Ex-dateChangeOld → newMove
Apr 12, 2023Cut$0.152 → $0.120−21.1%
Apr 23, 2020Cut$0.180 → $0.152−15.6%
Apr 10, 2019Cut$0.232 → $0.180−22.4%
Sep 9, 2015Cut$0.340 → $0.232−31.8%
Feb 10, 2009Cut$0.476 → $0.340−28.6%
Sep 12, 2007Raise$0.464 → $0.476+2.6%
Every NCZ payment →Download every raise and cut (CSV)
NCZ ex-dividend date & scheduleNext ex-date Nov 12, 2026 · full ex-dividend historyView →NCZ dividend historyEvery payment, totals by year, raises and cutsView →NCZ dividend calculator100 shares pay $144.00 a year, $12.00 each monthCalculate →NCZ total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is NCZ a good dividend stock?

Yes, with caveats. Virtus Convertible & Income Fund II (NCZ) pays a monthly dividend yielding 10.35% ($1.44/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.

Is NCZ undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NCZ's fair value is about $24.61 versus a $13.66 share price — so it looks undervalued (+80% vs. fair value).

Is NCZ's dividend safe?

NCZ has a dividend-safety grade of B (68/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is NCZ's fair value?

Our blended fair-value estimate for NCZ is about $24.61 per share, roughly 80% above the current $13.66 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is NCZ a buy, hold, or sell?

We don't issue formal ratings, but on the data NCZ screens as "yes, with caveats" and undervalued. Virtus Convertible & Income Fund II (NCZ) pays a monthly dividend yielding 10.35% ($1.44/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will NCZ cut its dividend?

NCZ earns a dividend-safety grade of B (68/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does NCZ pay a dividend?

Yes. Virtus Convertible & Income Fund II pays a monthly dividend of about $1.44 per share annually, a forward yield of roughly 10.35%.

How much dividend does 100 shares of NCZ pay?

At $1.44 per share a year, 100 shares of NCZ pay $144.00 a year in dividends before tax, about $12.00 each month. Buying them costs about $1,366 at the Nov 5, 2026 price.

What is NCZ's dividend yield?

As of Nov 5, 2026, NCZ's forward dividend yield is 10.35%, based on a $1.44 annual dividend and a $13.66 share price.

What is NCZ's dividend per share?

As of Nov 5, 2026, NCZ pays $1.44 per share per year, distributed on a monthly basis.

What is NCZ's dividend payout ratio?

As of Nov 5, 2026, NCZ's payout ratio is 32% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has NCZ grown its dividend?

NCZ does not currently have a long dividend-growth streak on record.

When is the next NCZ ex-dividend date?

As of Nov 5, 2026, the next ex-dividend date on record for NCZ is Nov 12, 2026.

Income Calculator

At $1.44 / yr per share

Per payment (monthly)$12.00
Annual$144.00
Monthly avg$12.00
Full NCZ dividend calculator →

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