Madison Covered Call and Equity Strategy Fund (MCN)

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MADISON, Wisconsin, December 01, 2021 (GLOBE NEWSWIRE) – The Madison Covered Call and Equity Strategy Fund (NYSE: MCN) (the “Fund”) declares its quarterly dividend of $ 0.18 / share. Dividends will be payable on December 30, 2021 to shareholders of record on December 16, 2021. The ex-dividend date will be December 15, 2021. If it is determined that notification is required in accordance with Article 19 (a) of the Law on 1940 Investment Companies, as amended, this notice will be posted on the Fund’s website after close of business three business days before the payment date. While a distribution rate is largely made up of sources other than income, it may not reflect the performance of the Fund.

The objective of the Fund is to achieve a high level of current income and current capital gains, with long-term capital appreciation as a secondary objective. The Fund intends to pursue its objective by investing in a portfolio of common stocks and using an options strategy, primarily by writing (selling) covered call options on a substantial portion of the common stocks in the portfolio in order to generate income. current and earnings from option subscription premiums and, to a lesser extent, dividends. Market action may have an impact on the issuance of dividends, as large decreases or increases in the total assets of the Fund affect the prospects for future dividends of the Fund. The Fund provides additional information on its website at www.madisonfunds.com.

Certain statements contained in this press release are forward-looking. The actual results of the Fund may differ from current expectations or projections due to many factors including, but not limited to, changes in stock markets, changes in the value of the portfolio, economic and political conditions and ‘other risks generally discussed in documents filed by the Fund with the SEC. Neither the Fund nor Madison undertakes to publicly update or revise any forward-looking statements.

“Madison” and / or “Madison Investments” is the unifying trade name of Madison Investment Holdings, Inc., Madison Asset Management, LLC (“MAM”) and Madison Investment Advisors, LLC (“MIA”), which also includes Madison Scottsdale office. MAM and MIA are registered as investment advisers with the United States Securities and Exchange Commission. Madison funds are distributed by MFD Distributor, LLC. MFD Distributor, LLC is registered with the United States Securities and Exchange Commission as a brokerage firm and is a member of the Financial Industry Regulatory Authority. The head office of each company listed above is 550 Science Drive, Madison, WI 53711. Madison’s toll-free number is 800-767-0300.


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