Madison Covered Call and Equity Strategy Fund (MCN) Declares Quarterly Dividend

Rhea-AI Summary

The Madison Covered Call and Equity Strategy Fund (NYSE:MCN) has declared a quarterly dividend of $0.18 per share, payable on June 30, 2021. Shareholders of record as of June 16, 2021 will receive this dividend, with the ex-dividend date set for June 15, 2021. The Fund aims for high current income and capital gains while investing predominantly in common stocks and utilizing a covered call option strategy. Market fluctuations can influence future dividends.

Positive

• Quarterly dividend of $0.18/share enhances shareholder income.
• The Fund's strategy aims for high current income and capital gains.

Negative

• Market volatility may adversely impact future dividend distribution.
• The actual results may differ significantly from expectations due to market changes.

MADISON, Wis., June 01, 2021 (GLOBE NEWSWIRE) -- The Madison Covered Call and Equity Strategy Fund (NYSE:MCN) (the “Fund”) declares its quarterly dividend of $0.18/share. The dividends will be payable June 30, 2021 to shareholders of record on June 16, 2021. The ex-dividend date will be June 15, 2021. If it is determined that a notification is required pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Fund’s website after the close of business three business days before the payable date. If a distribution rate is largely comprised of sources other than income, it may not reflect Fund performance.

The Fund’s objective is to achieve a high level of current income and current capital gains, with long-term capital appreciation as a secondary objective. The Fund intends to pursue its objective by investing in a portfolio of common stocks and utilizing an option strategy, primarily by writing (selling) covered call options on a substantial portion of the common stocks in the portfolio in order to generate current income and gains from option writing premiums and, to a lesser extent, from dividends. Market action can impact dividend issuance as significant decreases or increases in the Fund’s total assets affect the Fund’s future dividend prospects. The Fund provides additional information on its website at www.madisonfunds.com.

Certain statements in this release are forward-looking. The Fund’s actual results may differ from current expectations or projections due to numerous factors, including but not limited to changes in the equity markets, changes in the portfolio’s value, economic and political conditions and other risks generally discussed in the Fund’s filings with the SEC. Neither the Fund nor Madison undertakes any obligation to publicly update or revise any forward-looking statements. 

“Madison” and/or “Madison Investments” is the unifying tradename of Madison Investment Holdings, Inc., Madison Asset Management, LLC (“MAM”), and Madison Investment Advisors, LLC (“MIA”), which also includes the Madison Scottsdale office. MAM and MIA are registered as investment advisers with the U.S. Securities and Exchange Commission. Madison Funds are distributed by MFD Distributor, LLC. MFD Distributor, LLC is registered with the U.S. Securities and Exchange Commission as a broker-dealer and is a member firm of the Financial Industry Regulatory Authority. The home office for each firm listed above is 550 Science Drive, Madison, WI 53711. Madison’s toll-free number is 800-767-0300.

CONTACT: 
Madison
Greg Hoppe:  gregh@madisonadv.com
800-368-3195

FAQ

What is the dividend amount for MCN in June 2021?

The dividend amount for the Madison Covered Call and Equity Strategy Fund (MCN) is $0.18 per share.

When is the ex-dividend date for MCN?

The ex-dividend date for MCN is June 15, 2021.

When will MCN shareholders receive their dividend payment?

Shareholders of MCN will receive their dividend payment on June 30, 2021.

What is the primary investment strategy of MCN?

MCN primarily invests in common stocks and employs a covered call option strategy to generate income.

How can market actions affect MCN's dividends?

Significant changes in the Fund's total assets due to market actions can impact the future dividend prospects.