Virtus Equity & Convertible Income Fund
NIEFinancial Services · Asset Management · Stock · quarterly payer
Forward Yield
9.37%
Annual Dividend
$2.32
Payout Ratio
43%
5-Yr Growth
5.9%
Ex-Date
Sep 14, 2026
Frequency
Quarterly
Key facts about NIE's dividend
Data as of · Source: SmarterDividends data
- As of Oct 30, 2026, Virtus Equity & Convertible Income Fund (NIE) has a forward dividend yield of 9.37%, based on an annual dividend of $2.32 per share and a share price of $24.52.
- As of Oct 30, 2026, NIE's dividend safety grade from SmarterDividends is A (88 out of 100), which rates the dividend as very safe.
- NIE last cut its regular dividend in 2009.
- NIE's most recent ex-dividend date was Sep 14, 2026, for a dividend of $0.58 per share.
- As of Oct 30, 2026, NIE pays out 43% of its trailing 12-month earnings as dividends (its payout ratio).
- NIE's dividend has grown at an average rate of 5.9% a year over the past five years.
- As of Oct 30, 2026, NIE's 9.37% yield is 18% below its five-year average yield of 11.48%.
- As of Oct 30, 2026, SmarterDividends' blended fair-value estimate for NIE is $41.72 per share, 70% above the $24.52 share price, so NIE screens as undervalued.
- Virtus Equity & Convertible Income Fund (NIE) pays its dividend quarterly, 4 times a year.
- Virtus Equity & Convertible Income Fund (NIE) has raised its regular dividend 5 times and cut it 2 times across the 82 payments on record since 2007. Its most recent change was a 16.0% increase to $0.580 per share, going ex-dividend on Jun 15, 2026. The last cut went ex-dividend on Mar 16, 2026.
Cite this page
SmarterDividends, "NIE Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 30, 2026, https://smarterdividends.com/stocks/NIE
Summary
As of Oct 30, 2026, Virtus Equity & Convertible Income Fund (NIE) yields 9.37% ($2.32 a year per share) and has a dividend safety grade of A (88/100).
Is NIE a good dividend stock?
YesVirtus Equity & Convertible Income Fund (NIE) pays a quarterly dividend yielding 9.37% ($2.32/yr), with 1 year of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Comfortable payout ratio (43%)
- Strong 5.9% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Cut its dividend in 2009
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 9.37%
- Payout Ratio
- 43%
- Annual Dividend
- $2.32
- 5-Yr Avg Growth
- 5.9%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 1
- Frequency
- quarterly
- Beta
- —
- Market Cap
- $679.4M
- P/E Ratio
- 5.1
- 5-Yr Total Return
- -22%
- 52-Week Range
- $22.78 – $27.24
- Dividend Safety
- A · 88/100
- Ever Cut?
- Yes (2009)
NIE dividend raises and cuts
Virtus Equity & Convertible Income Fund (NIE) has raised its regular dividend 5 times and cut it 2 times across the 82 payments on record since 2007. Its most recent change was a 16.0% increase to $0.580 per share, going ex-dividend on Jun 15, 2026. The last cut went ex-dividend on Mar 16, 2026.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Jun 15, 2026 | Raise | $0.500 → $0.580 | +16.0% |
| Mar 16, 2026 | Cut | $0.526 → $0.500 | −4.9% |
| Dec 29, 2025 | Raise | $0.500 → $0.526 | +5.2% |
| Mar 11, 2022 | Raise | $0.380 → $0.500 | +31.6% |
| Sep 11, 2014 | Raise | $0.280 → $0.380 | +35.7% |
| Mar 19, 2009 | Cut | $0.625 → $0.280 | −55.2% |
| Dec 24, 2008 | Raise | $0.563 → $0.625 | +11.0% |
Frequently Asked Questions
Is NIE a good dividend stock?
Yes. Virtus Equity & Convertible Income Fund (NIE) pays a quarterly dividend yielding 9.37% ($2.32/yr), with 1 year of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is NIE undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, NIE's fair value is about $41.72 versus a $24.52 share price — so it looks undervalued (+70% vs. fair value).
Is NIE's dividend safe?
NIE has a dividend-safety grade of A (88/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2009, debt and yield-versus-history.
What is NIE's fair value?
Our blended fair-value estimate for NIE is about $41.72 per share, roughly 70% above the current $24.52 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is NIE a buy, hold, or sell?
We don't issue formal ratings, but on the data NIE screens as "yes" and undervalued. Virtus Equity & Convertible Income Fund (NIE) pays a quarterly dividend yielding 9.37% ($2.32/yr), with 1 year of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will NIE cut its dividend?
NIE earns a dividend-safety grade of A (88/100), and has cut its dividend before (last in 2009). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does NIE pay a dividend?
Yes. Virtus Equity & Convertible Income Fund pays a quarterly dividend of about $2.32 per share annually, a forward yield of roughly 9.37%.
What is NIE's dividend yield?
As of Oct 30, 2026, NIE's forward dividend yield is 9.37%, based on a $2.32 annual dividend and a $24.52 share price.
What is NIE's dividend per share?
As of Oct 30, 2026, NIE pays $2.32 per share per year, distributed on a quarterly basis.
What is NIE's dividend payout ratio?
As of Oct 30, 2026, NIE's payout ratio is 43% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has NIE grown its dividend?
As of Oct 30, 2026, NIE has increased its dividend for 1 consecutive years.
When is the next NIE ex-dividend date?
As of Oct 30, 2026, NIE's next ex-dividend date hasn't been announced. The most recent was Sep 14, 2026, for $0.58 per share.
NIE Price — Last 12 Months
Daily close
Price Return
1 Year
-6%
3 Years
+17%
5 Years
-22%
52-Week Range
$22.78 – $27.24
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NIE worth?
Undervaluedlow confidenceOur blended fair-value estimate for Virtus Equity & Convertible Income Fund is $41.72 per share, versus a market price of $24.52. That implies 70% of upside — a margin of safety of about 41%.
Fair Value
$41.72
Current Price
$24.52
Upside
+70%
Margin of Safety
41%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 9.3% discount rate (CAPM), 5.6% growth for five years fading to 2.5% over the next five, $4.79 EPS, $2.32 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NIE Dividend Safety Score
Very Safe
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
Full NIE dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 14, 2026 | Sep 29, 2026 | $0.5800 | regular |
| Jun 15, 2026 | Jun 29, 2026 | $0.5800 | regular |
| Mar 16, 2026 | Mar 30, 2026 | $0.5000 | regular |
| Dec 29, 2025 | Jan 9, 2026 | $0.5260 | regular |
| Dec 11, 2025 | Dec 30, 2025 | $0.5000 | regular |
| Sep 12, 2025 | Sep 29, 2025 | $0.5000 | regular |
| Jun 12, 2025 | Jun 27, 2025 | $0.5000 | regular |
| Mar 13, 2025 | Mar 28, 2025 | $0.5000 | regular |
| Dec 12, 2024 | Dec 30, 2024 | $0.5000 | regular |
| Sep 13, 2024 | Sep 26, 2024 | $0.5000 | regular |
| Jun 13, 2024 | Jun 27, 2024 | $0.5000 | regular |
| Mar 8, 2024 | Mar 28, 2024 | $0.5000 | regular |
| Dec 8, 2023 | Dec 22, 2023 | $0.5000 | regular |
| Sep 8, 2023 | Sep 22, 2023 | $0.5000 | regular |
Income Calculator
At $2.32 / yr per share
Similar Dividend Stocks
Compare NIE
Explore more
Lists and tools related to NIE
- Stocks that pay dividends in January →
- Undervalued dividend stocks →
- Safest dividend stocks →
- Financial Services dividend stocks →
- NIE dividend calculator →
- NIE DRIP calculator →
- NIE: last day to buy for the dividend →
- Embed NIE dividend data on your site →
- Dividend increases & cuts this week →
- Dividend calendar →
- Dividend calculator →
- Dividend income calculator →
- DRIP calculator →
- Latest dividend cuts →
- Dividend cuts this month (research note) →
- Dividend increases this month (research note) →
- Safety score track record →
- Dividend screener →
- Dividend history lookup →
- Guide: what is a good dividend yield? →
- Guide: how to value a dividend stock →