Madison Strategic Sector Premium Fund (MSP) Declares Quarterly Dividend
June 04 2010 - 11:18AM
Marketwired
The Madison Strategic Sector Premium Fund (the Fund or MSP) (NYSE:
MSP) declares its quarterly dividend of $0.26/share payable June
30, 2010 to shareholders of record as June 16, 2010. The
ex-dividend date will be June 14, 2010. 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 prior to the payable date. If a distribution rate is
largely comprised of sources other than income, it may not be
reflective of the Fund's 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 objectives 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 individual
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
affects the Fund's future dividend prospects.
The Fund provides a variety of information on its dedicated
website at www.madisonfunds.com. Madison Asset Management, LLC, a
wholly-owned subsidiary of Madison Investment Advisors, Inc., is
the Fund's investment adviser. Founded in 1974, the firm is
independently owned and based in Madison, Wisconsin. The Madison
organization manages the Madison Mosaic and MEMBERS Mutual Funds
families of mutual funds and its affiliates include Madison
Scottsdale, LC, specializing in insurance company asset management
and Concord Asset Management, focused on investing for high net
worth families and individuals in the Chicago, Illinois area.
Madison also is investment manager of another closed-end fund, the
Madison/Claymore Covered Call and Equity Strategy Fund (MCN).
Certain statements in this release are forward-looking
statements. 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.
CONTACT: Press & Analyst Inquiries Madison Investment
Advisors Larry Tabak Email Contact 550 Science Drive, Madison, WI
53711 800-368-3195
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