Calamos Closed-End Funds (CHY and CHW) Announce Ordinary Monthly Distributions; CSQ and CGO Announce a Distribution Increase and
November 26 2007 - 6:15PM
PR Newswire (US)
NAPERVILLE, Ill., Nov. 26 /PRNewswire-FirstCall/ -- Calamos
Investments announced today the declaration of monthly
distributions on each common share for its five closed-end funds.
Fund Distribution Payable Record Ex-dividend (Level Rate) date date
date CHI (inception 06/26/2002) Calamos Convertible Opportunities
and Income Fund $0.1400 12/11/07 12/06/07 12/04/07 CHY (inception
05/28/2003) Calamos Convertible and High Income Fund $0.1219
12/11/07 12/06/07 12/04/07 CSQ (inception 03/26/2004) Calamos
Strategic Total Return Fund $0.1025 12/11/07 12/06/07 12/04/07 CGO
(inception 10/27/2005) Calamos Global Total Return Fund $0.1150
12/11/07 12/06/07 12/04/07 CHW (inception 06/27/2007) Calamos
Global Dynamic Income Fund $0.1100 12/11/07 12/06/07 12/04/07
Calamos Strategic Total Return Fund (CSQ) increased its monthly
distribution by $0.005 per share to $0.1025. The increase
represents a 5.13% increase over the prior monthly distribution
rate. This distribution represents an annualized distribution rate
of 9.22% based on the Fund's closing New York Stock Exchange market
price of $13.34 on November 23, 2007. Calamos Global Total Return
Fund (CGO) increased its monthly distribution by $0.005 per share
to $0.1150. The increase represents a 4.55% increase over the prior
monthly distribution rate. This distribution represents an
annualized distribution rate of 7.64% based on the Fund's closing
New York Stock Exchange market price of $18.07 on November 23,
2007. Calamos Convertible Opportunities and Income Fund (CHI)
decreased its monthly distribution by $0.01 per share to $0.1400.
The decrease represents a 6.67% decrease over the prior monthly
distribution rate. This distribution represents an annualized
distribution rate of 11.42% based on the Fund's closing New York
Stock Exchange market price of $14.71 on November 23, 2007.
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. 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 commentary, portfolio
holdings, and a description of the Funds' dividend reinvestment
plan is posted at Calamos Investments' Web site,
http://www.calamos.com/. 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. About Calamos Calamos Investments is a diversified
investment firm offering equity, fixed-income, convertible and
alternative investment strategies, among others. The firm serves
institutions and individuals via separately managed accounts and a
family of open-end and closed-end funds, providing a risk-managed
approach to capital appreciation and income-producing strategies.
For more information, visit http://www.calamos.com/. DATASOURCE:
Calamos Investments CONTACT: Ken Fincher, Vice President of Calamos
Advisors LLC, +1-630-245-1076, Web site: http://www.calamos.com/
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