Madison Covered Call and Equity Strategy Fund (MCN) Declares Quarterly Dividend
March 01 2023 - 4:15PM
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 March 31, 2023 to shareholders of record
on March 16, 2023. The ex-dividend date will be March 15, 2023. 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 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 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.com800-368-3195
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