CALAMOS Closed-End Funds (CHI, CHY, CSQ) Announce Monthly Dividends
November 02 2005 - 4:26PM
PR Newswire (US)
NAPERVILLE, Ill., Nov. 2 /PRNewswire/ -- CALAMOS INVESTMENTS
announced today the declaration of monthly dividend distributions
on each common share for its three closed-end mutual funds. Fund
Dividend (Level Rate Payable Record Ex-dividend Distribution) date
date date CHI (inception 06/26/2002) Calamos Convertible
Opportunities and Income Fund $0.1500 11/25/05 11/16/05 11/14/05
CHY (inception 05/28/2003) Calamos Convertible and High Income Fund
$0.1219 11/25/05 11/16/05 11/14/05 CSQ (inception 03/26/2004)
Calamos Strategic Total Return Fund $0.0875 11/25/05 11/16/05
11/14/05 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,
distributions may include net realized long- term capital gains as
permitted by the Investment Company Act of 1940. 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;//http://www.calamos.com/
. 2020 Calamos Court, Naperville, IL, 60563-2787, 800-582-6959,
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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