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Calamos Strategic Total Return Fund Announces Monthly Dividend
NAPERVILLE, Ill., June 2 /PRNewswire-FirstCall/ -- CALAMOS INVESTMENTS
announced today the declaration of a monthly dividend distribution on each
common share for the Calamos Strategic Total Return Fund.
CSQ (inception
03/26/2004)
Calamos Strategic Dividend
Total Return Fund (Level Rate Payable Record Ex-dividend
Distribution) date date date
June Dividend $0.0875 06/27/2005 06/15/2005 06/13/2005
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 Fund has a level rate distribution policy paying monthly distributions at
the stated rate. Distributions paid may include net investment income, net
realized short-term capital gains and, if necessary, return of capital. In
addition, one distribution per calendar year may include net realized long-
term capital gains. There is no guarantee that the Fund 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 Fund are
generally subject to Federal income taxes. For purposes of maintaining the
level rate distribution policy, the Fund 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 Fund.
Additional information about the Fund, including a monthly commentary,
portfolio holdings, and a description of the Fund's dividend reinvestment plan
is posted at Calamos Investments' website, http://www.calamos.com/ .
Important Notes About Performance and Risk:
You can purchase or sell common shares daily. Like other investments, 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. Due to ongoing market volatility, performance is
subject to substantial short-term fluctuations.
Investments by a fund in lower rated securities involve substantial risk of
loss and present greater risks than investments in higher rated securities,
including less liquidity and increased price sensitivity to changing interest
rates and to a deteriorating economic environment. Shares of closed-end funds
frequently trade at a market price that is below their net asset value.
Fixed-income securities are subject to interest rate risk; as interest rates go
up, the value of debt securities in a fund's portfolio generally will decline.
There are certain risks associated with an investment in a convertible bond,
such as default risk - that the company issuing a convertible security may be
unable to repay principal and interest - and interest rate risk - that the
convertible may decrease in value if interest rates increase.
About CALAMOS
CALAMOS INVESTMENTS provides investment advisory services to institutions and
individuals seeking superior risk-adjusted returns over the long term. With
roots dating back to 1977, the company applies its proprietary investment
process across an expanding range of investment strategies within the equity,
global/international, balanced, high yield, convertible and alternative
investment classes. For more information, visit 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/