CALAMOS Closed-End Funds: Calamos Convertible Opportunities and Income Fund (CHI), Calamos Convertible and High Income Fund (CHY
May 03 2005 - 6:32PM
PR Newswire (US)
CALAMOS Closed-End Funds: Calamos Convertible Opportunities and
Income Fund (CHI), Calamos Convertible and High Income Fund (CHY)
and Calamos Strategic Total Return Fund (CSQ) Announce Monthly
Dividends NAPERVILLE, Ill., May 3 /PRNewswire-FirstCall/ -- CALAMOS
INVESTMENTS announced today the declaration of monthly dividend
distributions on each common share for its three closed-end mutual
funds. Payable Record Ex-dividend Fund Dividend date date date CHI
(inception 06/26/2002) Calamos Convertible Opportunities and Income
Fund $0.1500 05/25/2005 05/13/2005 05/11/2005 CHY (inception
05/28/2003) Calamos Convertible and High Income Fund $0.1219
05/25/2005 05/13/2005 05/11/2005 CSQ (inception 03/26/2004) Calamos
Strategic Total Return Fund $0.0875 05/25/2005 05/13/2005
05/11/2005 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. 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/ .
DATASOURCE: CALAMOS INVESTMENTS CONTACT: Jeff Kelley of CALAMOS
INVESTMENTS, +1-630-577-9687, Web site: http://www.calamos.com/
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