Madison Covered Call and Equity Strategy Fund (MCN) Declares Quarterly Dividend
June 01 2023 - 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 June 30, 2023 to shareholders of record
on June 16, 2023. The ex-dividend date will be June 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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