CORRECTION: Calamos Investments Closed-End Funds (NASDAQ: CHI, CHY, CSQ, CGO, CHW, CCD and CPZ) Announce Monthly Distributions and Required Notifications of Sources of Distribution
METRO CHICAGO, Ill., June 4, 2024 /PRNewswire/ -- Calamos Investments?* has announced corrections to monthly distributions and sources of distributions paid in June 2024 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.
A news release issued under the same headline yesterday, June 3, 2024, incorrectly stated the ex-dividend date with respect to each Fund's monthly distribution. As reflected in the table below, the correct ex-dividend date for each Fund's monthly distribution paid in June 2024 is June 14, 2024.
Fund
Distribution
Payable date
Record date
Ex-dividend date
CHI (inception 06/26/2002)
Calamos Convertible Opportunities and Income Fund
$0.0950
6/20/24
6/14/24
6/14/24
CHY (inception 05/28/2003)
Calamos Convertible and High Income Fund
$0.1000
6/20/24
6/14/24
6/14/24
CSQ (inception 03/26/2004)
Calamos Strategic Total Return Fund
$0.1025
6/20/24
6/14/24
6/14/24
CGO (inception 10/27/2005)
Calamos Global Total Return Fund
$0.0800
6/20/24
6/14/24
6/14/24
CHW (inception 06/27/2007)
Calamos Global Dynamic Income Fund
$0.0500
6/20/24
6/14/24
6/14/24
CCD (inception 03/27/2015)
Calamos Dynamic Convertible and Income Fund
$0.1950
6/20/24
6/14/24
6/14/24
CPZ (inception 11/29/2019)
Calamos Long/Short Equity & Dynamic Income Trust
$0.1400
6/20/24
6/14/24
6/14/24
The following table provides estimates of Calamos Global Total Return Fund's and Calamos Global Dynamic Income Fund's distribution sources, reflecting YTD cumulative experience. The Funds attribute these estimates equally to each regular distribution throughout the year.
Distribution Components for June 2024's Payable Date
CGO
CHW
Ordinary Income
$0.0000
$0.0000
Short-Term Capital Gains
$0.0800
$0.0500
Long-Term Capital Gains
$0.0000
$0.0000
Return of Capital
$0.0000
$0.0000
Total Distribution (Level Rate)
$0.0800
$0.0500
2024 Fiscal YTD Data
CGO
CHW
Ordinary Income
$0.0000
$0.0000
Short-Term Capital Gains
$0.4000
$0.2500
Long-Term Capital Gains
$0.0000
$0.0000
Return of Capital
$0.2400
$0.1500
Total Fiscal YTD Distribution (Level Rate)
$0.6400
$0.4000
Regarding Calamos' remaining five closed-end funds, which operate under a managed distribution policy: The information below is required by an exemptive order granted to the Funds by the US Securities and Exchange Commission and includes the information sent to shareholders regarding the sources of the Funds' distributions.
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. The Funds estimate the following percentages, of their respective total distribution amount per common share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized longterm capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal YTD cumulative distribution amount per common share for the Funds. The following table provides estimates of each Fund's distribution sources, reflecting YTD cumulative experience. The Funds attribute these estimates equally to each regular distribution throughout the year.
Estimated Per Share Sources of Distribution
Estimated Percentage of Distribution
Per Share
Net
Short-Term
Long-Term
Return of
Net
Short-Term
Long-Term
Return of
Fund
Distribution
Income
Gains
Gains
Capital
Income
Gains
Gains
Capital
CHI
Current Month
0.0950
-
-
-
0.0950
0.0 %
0.0 %
0.0 %
100.0 %
Fiscal YTD
0.7600
-
0.0126
0.0677
0.6797
0.0 %
1.7 %
8.9 %
89.4 %
Net Asset Value
9.80
CHY
Current Month
0.1000
-
-
-
0.1000
0.0 %
0.0 %
0.0 %
100.0 %
Fiscal YTD
0.8000
-
0.0136
0.0385
0.7479
0.0 %
1.7 %
4.8 %
93.5 %
Net Asset Value
10.37
CSQ
Current Month
0.1025
-
-
-
0.1025
0.0 %
0.0 %
0.0 %
100.0 %
Fiscal YTD
0.8200
-
-
0.1025
0.7175
0.0 %
0.0 %
12.5 %
87.5 %
Net Asset Value
16.59
CCD
Current Month
0.1950
-
0.1950
-
-
0.0 %
100.0 %
0.0 %
0.0 %
Fiscal YTD
1.5600
-
0.1950
0.1950
1.1700
0.0 %
12.5 %
12.5 %
75.0 %
Net Asset Value
18.81
CPZ
Current Month
0.1400
0.0215
0.1185
-
-
15.4 %
84.6 %
0.0 %
0.0 %
Fiscal YTD
1.1200
0.1600
0.7200
-
0.2400
14.3 %
64.3 %
0.0 %
21.4 %
Net Asset Value
17.74
Note: NAV returns are as of May 31, 2024, and Distribution Returns include the distribution announced today.
You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's plan.
If the Fund(s) estimate(s) that it has distributed more than its income and capital gains, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.
The amounts and sources of distributions reported in this 19(a) notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099 DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Return figures provided below are based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last day of the month prior to distribution record date.
Annualized
Fund
5-Year
Fiscal YTD
Fiscal YTD
Fiscal YTD
NAV Return (1)
NAV Dist Rate
NAV Return
NAV Dist Rate
CHI
8.76 %
11.63 %
16.22 %
7.76 %
CHY
8.93 %
11.57 %
16.41 %
7.71 %
CSQ
15.42 %
7.41 %
29.57 %
4.94 %
CCD
9.93 %
12.44 %
16.78 %
8.29 %
CPZ
6.68 %
9.47 %
14.46 %
6.31 %
1Since inception for CPZ
Note: NAV returns are as of May 31, 2024, and Distribution Returns include the distribution announced today.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. Past performance does not guarantee future results.
Monthly distributions offer 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, distributions 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, distributions will be reinvested at the market price through an open market purchase program. 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.
Important Notes about Performance and Risk Past performance is no guarantee of future results. As with other investments, market price will fluctuate with the market and 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. Returns at NAV reflect the deduction of the Fund's management fee, debt leverage costs and other expenses. You can purchase or sell common shares daily. Like any other stock, 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. Shares of closed-end funds frequently trade at a discount which is a market price that is below their net asset value.
About Calamos Calamos Investments is a diversified global investment firm offering innovative investment strategies including alternatives, multi-asset, convertible, fixed income, equity, and sustainable equity. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an interval fund, ETFs, and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in New York City, San Francisco, Milwaukee, Portland (Oregon), and the Miami area. For more information, please visit us on LinkedIn, on Twitter @Calamos, Instagram @calamos_investments, or at www.calamos.com.
*Calamos Investments LLC, referred to herein as Calamos Investments?, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP and Calamos Financial Services LLC.
