Virtus AllianzGI Equity & Convertible Income Fund announced that it will institute a managed distribution plan effective with the quarterly distribution payable March 25, 2022. Coincident with the adoption of the plan, the Fund will raise its quarterly distribution rate to $0.50 per share, a 32% increase from the quarterly distribution of $0.38 per share payable on January 7, 2022. The Record Date of March 14, 2022 with Ex-Date of March 11, 2022 and Payable on March 25, 2022.