NAPERVILLE, Ill., June 15, 2021 /PRNewswire/ -- Calamos
Investments®* announced today the raising of the monthly
distribution amount of Calamos Long/Short Equity & Dynamic
Income Trust (Nasdaq: CPZ) from 13.00 cents per share to 14.00 cents per share payable on July 20, 2021. This raise represents an
approximate 7.7% increase from the prior distribution. The new
distribution amount of 14.00 cents
per share reflects on an annualized basis a current distribution
rate of 8.1% based upon the Fund's market price of $20.85 per share on June
14, 2021. This $0.01 monthly
distribution increase represents the third of such dividend raises
to shareholders since December 2020,
resulting in a 27% payout hike in the aggregate.
CPZ Dividend Details
Monthly Dividend
Declaration
|
Distribution
|
Payable
date
|
Record
date
|
Ex-dividend
date
|
June 15,
2021
|
$0.1400
|
07/20/21
|
07/13/21
|
07/12/21
|
Actively managed, CPZ is a global total return closed-end
fund that seeks to provide current income and risk-managed capital
appreciation by investing in a long/short equity strategy and a
broad array of income-producing assets comprising a global
approach. Key factors relating to the Fund's success and its
ability to raise its dividend at this time include:
- Active risk management of portfolio, focused on global stocks
and income producing securities, fostered the Fund's positive
performance in 2021 through June
14
- We believe 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 global equity markets in 2021
- Strong portfolio performance of 13.98% for NAV for the year to
date through June 14, 2021
Reflecting on the strength of the Fund's distributions,
John P. Calamos, Sr., Founder,
Chairman and Global Chief Investment Officer, stated, "This
increase in CPZ's distribution rate demonstrates our ongoing high
confidence that we have in the Fund and our portfolio management
team's ability to optimize both current and anticipated
opportunities as our shareholders continue to participate in the
Fund's portfolio performance. We are pleased that the Fund's
positioning and effective active management have resulted in strong
portfolio performance so far in 2021, and we look forward to
continuing to optimize opportunities for our shareholders going
forward."
"While we manage our CEFs to provide a steady income stream,
return of capital may occur from time to time. However, in
spite of volatile markets, I'm pleased to report that the Fund has
not sourced return of capital on either an actual or estimated
basis for its monthly distributions since inception in November 2019 through June
2021."
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 approximately
$9.7 billion as of 5/31/21 in seven closed end funds. Additional
information about the fund 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