Madison Strategic Sector Premium Fund (MSP) and Madison Covered Call and Equity Strategy Fund (MCN) Declare Quarterly Dividen...
05 9월 2018 - 5:30AM
The Madison Strategic Sector Premium Fund (NYSE:MSP) declares its
quarterly dividend of $0.26/share and the Madison Covered Call and
Equity Strategy Fund (NYSE:MCN) declares its quarterly dividend of
$0.18/share. The dividends will be payable September 28, 2018 to
shareholders of record on September 18, 2018. The ex-dividend date
will be September 17, 2018. 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 funds’
respective 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.
As it relates to MSP only, the dividend for this quarterly
distribution will be paid only in cash and not reinvested in
additional shares, due to MSP’s proposed Merger with and into MCN,
which will be voted on at a Meeting of Shareholders to be held on
September 28, 2018. If the Merger is not approved by
Shareholders, MSP will continue its dividend reinvestment plan on
future quarterly distributions.
Each 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. Both funds intend to pursue
their objectives 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 their portfolios 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
significant decreases or increases in the funds’ total assets
affect the funds’ future dividend prospects.
The funds provide additional information on their
websites at www.madisonfunds.com. Madison Asset Management, LLC
(Madison), a subsidiary of Madison Investment Holdings, Inc., is
the funds’ investment adviser. Its affiliates include Madison
Investment Advisors, LLC, with which it shares all resources at our
Madison, Wisconsin headquarters and Hansberger Growth Investors,
LP, also in Madison, Wisconsin.
Certain statements in this release are forward-looking. The
funds’ 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 portfolios’ value,
economic and political conditions and other risks generally
discussed in the funds’ filings with the SEC. Neither of the funds
nor Madison undertakes any obligation to publicly update or revise
any forward-looking statements.
CONTACT: Madison Greg Hoppe:
gregh@madisonadv.com800-368-3195
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