CALAMOS Closed-End Funds (CHI, CHY, CSQ, CGO) Announce Monthly Dividends, Including a 16.67% Increase in Regular Monthly Distri
June 01 2006 - 5:00PM
PR Newswire (US)
NAPERVILLE, Ill., June 1 /PRNewswire-FirstCall/ -- CALAMOS
INVESTMENTS announced today the declaration of monthly dividend
distributions on each common share for its four closed-end mutual
funds. Fund Dividend Payable Record Ex-dividend date date date
(Level Rate Distribution) CHI (inception 06/26/2002) Calamos
Convertible Opportunities and Income Fund $0.1500 6/15/06 6/12/06
6/8/06 CHY (inception 05/28/2003) Calamos Convertible and High
Income Fund $0.1219 6/15/06 6/12/06 6/8/06 CSQ (inception
03/26/2004) Calamos Strategic Total Return Fund $0.0975 6/15/06
6/12/06 6/8/06 CGO (inception 10/27/2005) Calamos Global Total
Return Fund $0.0875 6/15/06 6/12/06 6/8/06 The Calamos Global Total
Return Fund has increased its distribution rate by $0.0125 per
common share as compared to the Fund's prior regular monthly
distribution, representing a 16.67% increase over the prior monthly
distribution rate. This distribution represents an annualized rate
of 7.42% based on the Fund's closing market price of $14.16 on May
31, 2006 and an annualized rate of 7.00% based on the Fund's
initial offering price of $15.00. "CGO's goal is to provide
investors with significant long-term total return, and we believe
that closed-end fund investors consider consistent, attractive
distributions to be an important component of their total-return
goals," said John P. Calamos, Sr., CEO and Co-Chief Investment
Officer of Calamos Investments. "Since the Fund's inception, we
have strived to design a portfolio that takes advantage of the
Fund's flexibility, providing a relatively defensive approach to
access global equity exposure while focusing on both income and
capital gain opportunities. We are pleased to be able to increase
the Fund's distribution rate, as it demonstrates our success in
fulfilling on our commitment to shareholders." For all of the
above-mentioned Funds, 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: Past performance is no guarantee of future results. Like
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. About CALAMOS CALAMOS INVESTMENTS is a
diversified investment firm offering equity, high yield,
convertible and alternative investment strategies through its
subsidiaries. The firm serves institutions and individuals via
separately managed accounts, open-end mutual funds and closed-end
funds, offering a risk-managed approach to capital appreciation and
income-producing strategies. For more information, visit
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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