AllianzGI Diversified Income & Convertible Fund Declares Initial Monthly Distribution of 0.167 Cents Per Common Share
July 08 2015 - 4:57PM
Business Wire
The Board of Trustees of the AllianzGI Diversified Income &
Convertible Fund (the "Fund") (NYSE: ACV) announced today that it
has declared the Fund's initial monthly distribution of $0.167 per
common share. At the Fund's initial offering price of $25.00 per
share, this monthly distribution rate represents an annualized
distribution yield of approximately 8.02%.
The distribution will be payable on August 3, 2015 to
shareholders of record on July 20, 2015 with an ex-dividend date of
July 16, 2015. Based on projections through the payable date, it is
expected that this distribution will be comprised of net investment
income and/or capital gains.
Going forward, it is anticipated that the Fund will declare
monthly distributions on the first business day of each month with
a payment date on the first business day of the following month.
The next monthly distribution is expected to be declared on or
about August 3, 2015 and be payable on or about September 1,
2015.
Although it does not currently intend to do so, as portfolio and
market conditions change, the distribution rate and the Fund's
policy to declare distributions monthly could be changed by the
Board of Trustees.
The Fund is a registered closed-end investment company. The
Fund's investment objective is to provide total return through a
combination of current income and capital appreciation, while
seeking to provide downside protection against capital loss. There
can be no assurance that the Fund will meet its stated
objective.
Allianz Global Investors Fund Management LLC ("AGIFM") is the
Fund's investment manager and is an indirect, wholly-owned
subsidiary of Allianz Asset Management of America L.P. and a member
of Munich-based Allianz Group. Allianz Global Investors U.S. LLC
("AGI U.S."), an AGIFM affiliate, serves as the Fund's
sub-adviser.
The Fund’s daily New York Stock Exchange closing prices, net
asset values per share, as well as other information, are available
at us.allianzgi.com/closedendfunds or by calling the Fund’s
shareholder servicing agent at (800) 254-5197.
This material may include statements that constitute
"forward-looking statements" under the U.S. securities laws.
Forward-looking statements include, among other things,
projections, estimates and information about possible or future
results related to the Fund, market or regulatory developments. The
views expressed herein are for informational purposes only and are
not guarantees of future performance or economic results and
involve certain risks, uncertainties and assumptions that could
cause actual outcomes and results to differ materially from the
views expressed herein. Such risks and uncertainties include,
without limitation, the adverse effect from a decline in the
securities markets or a decline in the Fund’s performance, a
general downturn in the economy, competition from other companies,
changes in government policy or regulation, inability to attract or
retain key employees, inability to implement its operating strategy
and/or acquisition strategy, and unforeseen costs and other effects
related to legal proceedings or investigations of governmental and
self-regulatory organizations. The views expressed herein are
subject to change at any time based upon economic, market, or other
conditions and the Fund undertakes no obligation to update the
views expressed herein. While we have gathered this information
from sources believed to be reliable, the Fund cannot guarantee the
accuracy of the information provided. The views expressed herein do
not constitute recommendations to buy, sell or hold any security.
The views expressed herein (including any forward-looking
statement) may not be relied upon as investment advice or as an
indication of the Fund's trading intent. Information included
herein is not an indication of the Fund's future portfolio
composition or the extent to which the Fund may utilize
leverage.
The actual composition and character of the distribution
described above and future distributions of the Fund may be
materially different from the composition or character of such
distributions that existed at the time of this press release.
Factors that may affect Fund distributions include the varied
nature of the Fund's investments and the performance of those
investments, and that the ultimate characterization of the Fund's
distributions cannot finally be determined until the end of the
Fund's fiscal year, resulting in the possibility of a return of
capital if the Fund makes total distributions during a fiscal year
in an amount that exceeds the Fund's net investment income and net
realized capital gains for the fiscal year. As a result of the
foregoing and other factors, no assurance can be given as to the
actual composition or character of Fund distributions at the time
of this press release by the Fund, AGIFM, AGI U.S., nor any of
their affiliates, trustees, directors, members, officers or
employees.
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version on businesswire.com: http://www.businesswire.com/news/home/20150708006406/en/
AllianzGI Diversified Income & Convertible FundShareholders:
800-254-5197
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