CALAMOS Closed-End Funds (CHI, CHY, CSQ) Announce Monthly Dividends
July 01 2005 - 5:34PM
PR Newswire (US)
CALAMOS Closed-End Funds (CHI, CHY, CSQ) Announce Monthly Dividends
NAPERVILLE, Ill., July 1 /PRNewswire-FirstCall/ -- CALAMOS
INVESTMENTS announced today the declaration of monthly dividend
distributions on each common share for its three closed-end mutual
funds. Fund Dividend Payable date Record date Ex-dividend date
(Level Rate Distribution) CHI (inception 06/26/2002) Calamos
Convertible Opportunities and Income Fund $0.1500 7/26/05 7/15/05
7/13/05 CHY (inception 05/28/2003) Calamos Convertible and High
Income Fund $0.1219 7/26/05 7/15/05 7/13/05 CSQ (inception
03/26/2004) Calamos Strategic Total Return Fund $0.0875 7/26/05
7/15/05 7/13/05 A dividend offers shareholders the opportunity to
accumulate more shares in a fund via the automatic dividend
reinvestment plan. For example, if a fund's shares are trading at a
premium, dividends will be automatically reinvested through the
plan at NAV or 95% of the market price, whichever is greater; if
shares are trading at a discount, dividends will be reinvested at
the market price. Thus, the plan offers current shareholders an
efficient method of accumulating additional shares with a potential
for cost savings. Please see the dividend reinvestment plan for
more information. The Funds have level rate distribution policies
paying monthly distributions at the stated rates. Distributions
paid may include net investment income, net realized short-term
capital gains and, if necessary, return of capital. In addition,
one distribution per calendar year may include net realized
long-term capital gains. There is no guarantee that the Funds will
realize capital gains in any given year. Distributions are subject
to re-characterization for tax purposes after the end of the fiscal
year. All shareholders with taxable accounts will receive written
notification regarding the components and tax treatment for
distributions via Form 1099-DIV. Distributions from the Funds are
generally subject to Federal income taxes. For purposes of
maintaining the level rate distribution policy, the Funds may
realize short-term capital gains on securities that, if sold at a
later date, would have resulted in long-term capital gains.
Maintenance of a level rate distribution policy may increase
transaction and tax costs associated with the Funds. Additional
information about the Funds, including a monthly commentary,
portfolio holdings, and a description of the Funds' dividend
reinvestment plan is posted at Calamos Investments' website,
http://www.calamos.com/ . Important Notes About Performance and
Risk: You can purchase or sell common shares daily. Like other
investments, market price will fluctuate with the market. Upon
sale, your shares may have a market price that is above or below
net asset value and may be worth more or less than your original
investment. Due to ongoing market volatility, performance is
subject to substantial short-term fluctuations. Investments by a
fund in lower rated securities involve substantial risk of loss and
present greater risks than investments in higher rated securities,
including less liquidity and increased price sensitivity to
changing interest rates and to a deteriorating economic
environment. Shares of closed-end funds frequently trade at a
market price that is below their net asset value. Fixed-income
securities are subject to interest rate risk; as interest rates go
up, the value of debt securities in a fund's portfolio generally
will decline. There are certain risks associated with an investment
in a convertible bond, such as default risk -- that the company
issuing a convertible security may be unable to repay principal and
interest -- and interest rate risk -- that the convertible may
decrease in value if interest rates increase. About CALAMOS CALAMOS
INVESTMENTS provides investment advisory services to institutions
and individuals seeking superior risk-adjusted returns over the
long term. With roots dating back to 1977, the company applies its
proprietary investment process across an expanding range of
investment strategies within the equity, global/international,
balanced, high yield, convertible and alternative investment
classes. For more information, visit http://www.calamos.com/ .
Calamos(R), CALAMOS INVESTMENTS(R), Strategies for Serious
Money(R), and the Calamos(R) logo are registered trademarks of
Calamos Holdings LLC. DATASOURCE: CALAMOS INVESTMENTS CONTACT: Jeff
Kelley of CALAMOS INVESTMENTS, +1-630-577-9687, Web site:
http://www.calamos.com/
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