NAPERVILLE, Ill., Jan. 21, 2021 /PRNewswire/ -- Calamos
Investments®* announced today the raising of the monthly
distribution rate of Calamos Convertible Opportunities and Income
Fund (Nasdaq: CHI) from 8.00
cents per share to 9.50 cents
per share payable on February 19,
2021. Representing an approximate 19% increase from the
prior distribution, the new distribution rate reflects on an
annualized basis a current distribution rate of 8.13% based upon
the Fund's market price of $14.03 per
share on January 20, 2021.
CHI Dividend Details
Monthly Dividend
Declaration
|
Distribution
|
Payable
date
|
Record
date
|
Ex-dividend
date
|
January 21,
2021
|
$0.0950
|
02/19/21
|
02/12/21
|
02/11/21
|
Actively managed, CHI is an enhanced fixed income offering that
seeks total return through a combination of capital appreciation
and current income by investing in a diversified portfolio of
convertible securities and below-investment-grade (high yield)
fixed income securities. Key factors relating to the Fund's
success and its ability to raise its dividend at this time
include:
- Active management fostered the Fund's ability to offer our
shareholders exceptional returns in the convertible and fixed
income markets in 2020
- Strong absolute and relative return profile enhanced by our
risk managed approach
- Very attractive leverage costs continue to be accretive to our
shareholders via a positive reinvestment rate of return
- Active portfolio positioning seeking to optimize attractive
investment opportunities in convertible bond and fixed income
markets in 2021
The Fund is one of five Calamos closed-end funds that announced
a dividend increase payable in February
2021. Reflecting on the strength of the Funds'
distributions, John P. Calamos, Sr.,
Founder, Chairman and Global Chief Investment Officer, stated, "We
are pleased these funds are well positioned to raise their monthly
dividends following our effective active management, resulting in
strong portfolio performance in 2020, as well as our market
positioning to optimize opportunities we see for our shareholders
in 2021. As demonstrated by the attractive dividends across our
closed-end fund lineup totaling nearly $9
billion in assets under management as of 12/31/20, we remain
committed to our closed-end fund shareholders to provide both
attractive and sustainable distributions so that they may better
participate in the portfolio's returns."
Additional information regarding the estimated amount of the
sources of the Fund's monthly distribution for purposes of Section
19 of the Investment Company Act of 1940, as amended ("1940 Act"),
and the related rules adopted thereunder, will be provided in a
separate release closer to the Fund's payable date.
You should not draw any conclusions about the Fund's investment
performance from the amount of this distribution or from the terms
of the Fund's plan. If the Fund estimates that it has distributed
more than its income and capital gains, a portion of your
distribution may be a return of capital. A return of capital may
occur, for example, when some or all of the money that you invested
in the Fund is paid back to you. A return of capital distribution
does not necessarily reflect the Fund's investment performance and
should not be confused with 'yield' or 'income'. The amounts and
sources of distributions reported are only estimates and are not
being provided for tax reporting purposes. The actual amounts and
sources of the amounts for accounting and tax purposes will depend
upon the Fund's investment experience during the remainder of its
fiscal year and may be subject to changes based on tax regulations.
The Fund will send you a Form 1099 DIV for the calendar year that
will tell you how to report these distributions for federal income
tax purposes.
An innovator in dynamically allocated closed end funds since
2002, Calamos Investments currently manages nearly $9 billion as of 12/31/20 in seven closed end funds. Additional
information about the funds can be found on 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. Returns at NAV reflect the deduction of the Fund's
management fee, debt leverage costs and other expenses. You can
purchase or sell common shares daily. Like any other stock, 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. Shares of
closed-end funds frequently trade at a discount which is a market
price that is below their net asset value.
About Calamos
Calamos Investments is a diversified global investment firm
offering innovative investment strategies including alternatives,
multi-asset, convertible, fixed income, and equity. The firm offers
strategies through separately managed portfolios, mutual funds,
closed-end funds, private funds, and UCITS funds. Clients include
major corporations, pension funds, endowments, foundations and
individuals, as well as the financial advisors and consultants who
serve them. Headquartered in the Chicago metropolitan area, the firm also has
offices in New York, San Francisco, Milwaukee and the Miami area. For more information, please visit
www.calamos.com.
*Calamos Investments LLC, referred to herein as Calamos
Investments®, is a financial services company offering such
services through its subsidiaries: Calamos Advisors LLC, Calamos
Wealth Management LLC, Calamos Investments LLP and Calamos
Financial Services LLC.
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SOURCE Calamos Investments