Virtus Equity & Convertible Income Fund
NIEFinancial Services · Stock · quarterly payer
Forward Yield
8.96%
Annual Dividend
$2.32
Payout Ratio
48%
5-Yr Growth
5.9%
Ex-Date
Jun 15, 2026
Frequency
Quarterly
Summary
As of July 2026, Virtus Equity & Convertible Income Fund (NIE) yields 8.96% ($2.32 per share annually), with a blended fair-value estimate of $60.53 — +134% upside, so it screens as undervalued. Dividend safety grade: A (87/100). 1 years of dividend growth.
Is NIE a good dividend stock?
YesVirtus Equity & Convertible Income Fund (NIE) pays a quarterly dividend yielding 8.96% ($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 (48%)
- 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
- 8.96%
- Payout Ratio
- 48%
- Annual Dividend
- $2.32
- 5-Yr Avg Growth
- 5.9%
- Ex-Dividend Date
- Jun 15, 2026
- Years of Growth
- 1
- Frequency
- quarterly
- Beta
- —
- Market Cap
- $717.7M
- P/E Ratio
- 6.3
- 5-Yr Total Return
- -16%
- 52-Week Range
- $22.78 – $27.24
- Dividend Safety
- A · 87/100
- Ever Cut?
- Yes (2009)
Frequently Asked Questions
NIE Price — Last 12 Months
Daily close
Price Return
1 Year
+4%
3 Years
+21%
5 Years
-16%
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 $60.53 per share, versus a market price of $25.90. That implies 134% of upside — a margin of safety of about 57%.
Fair Value
$60.53
Current Price
$25.90
Upside
+134%
Margin of Safety
57%
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 5.6% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.3% discount rate (CAPM), 5.6% stage-1 growth, 2.5% terminal growth, $4.13 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jun 15, 2026 | — | $0.5800 | regular |
| Mar 16, 2026 | — | $0.5000 | regular |
| Dec 29, 2025 | — | $0.5260 | regular |
| Dec 11, 2025 | — | $0.5000 | regular |
| Sep 12, 2025 | — | $0.5000 | regular |
| Jun 12, 2025 | — | $0.5000 | regular |
| Mar 13, 2025 | — | $0.5000 | regular |
| Dec 12, 2024 | — | $0.5000 | regular |
| Sep 13, 2024 | — | $0.5000 | regular |
| Jun 13, 2024 | — | $0.5000 | regular |
| Mar 8, 2024 | — | $0.5000 | regular |
| Dec 8, 2023 | — | $0.5000 | regular |
| Sep 8, 2023 | — | $0.5000 | regular |
| Jun 9, 2023 | — | $0.5000 | regular |
Income Calculator
At $2.32 / yr per share
