Madison Covered Call and Equity Strategy Fund (MCN) Declares Quarterly Dividend
September 01 2020 - 4:30PM
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 September 30, 2020 to shareholders of
record on September 16, 2020. The ex-dividend date will be
September 15, 2020. 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.
Madison Asset Management, LLC (Madison), a subsidiary of Madison
Investment Holdings, Inc., is the Fund’s investment adviser. The
affiliates include Madison Investment Advisors, LLC, with which it
shares all resources at our Madison, Wisconsin headquarters and
Hansberger Growth Investors, LP, also in Madison, Wisconsin.
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.
CONTACT: Madison Greg
Hoppe: gregh@madisonadv.com800-368-3195
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