Calamos Investments Announces Calamos Dynamic Convertible and Income Fund to Raise Monthly Distribution Payable in February 19, 2021
January 21, 2021 at 07:50 pm EST
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Calamos Investments announced the raising of the monthly distribution rate of Calamos Dynamic Convertible and Income Fund from 16.70 cents per share to 19.50 cents per share payable on February 19, 2021. Representing an approximate 17% increase from the prior distribution, the new distribution rate reflects on an annualized basis a current distribution rate of 7.87% based upon the Fund's market price of $29.75 per share on January 20, 2021. Record date February 12, 2021 and ex dividend date is February 11, 2021.
Calamos Dynamic Convertible and Income Fund (the Fund) is a diversified, closed-end management investment company. The Fundâs investment strategy is to provide total return through a combination of capital appreciation and current income. The Fund invests at least 80% of the Fundâs managed assets will be invested in convertible securities and income-producing securities, with at least 50% of the Fundâs managed assets invested in convertible securities. The Fund may invest up to 50% of its managed assets in securities of foreign issuers, with up to 15% of its managed assets in securities issued by foreign issuers in emerging markets. The Fund may invest up to 20% of its managed assets in high-yield non-convertible bonds. The Fund holds investments in various sectors, such as consumer discretionary, information technology, healthcare, communication services, industrials, financials, utilities, energy, materials, real estate and others. Its investment advisor is Calamos Advisors LLC.