Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Shares Will Pay Monthly Dividend of $0.06

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) announced a monthly dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be given a dividend of $0.06 per share by the investment management company on Monday, November 2nd. This represents a $0.72 annualized dividend and a yield of 13.6%. The ex-dividend date is Thursday, October 15th.

Madison Covered Call & Equity Strategy Fund Price Performance

MCN stock opened at $5.28 on Friday. The company’s 50 day moving average price is $5.57 and its two-hundred day moving average price is $5.70. Madison Covered Call & Equity Strategy Fund has a one year low of $5.18 and a one year high of $6.39.

About Madison Covered Call & Equity Strategy Fund

Madison Covered Call & Equity Strategy Fund (NYSE: MCN) is a closed-end management investment company designed to provide investors with current income and long-term capital appreciation. The fund is managed by Madison Investments, an investment management firm offering a range of equity and fixed-income strategies.

The fund invests primarily in a diversified portfolio of common stocks, with an emphasis on companies that Madison believes offer the potential for income and growth. It also employs a covered call strategy, writing call options on selected portfolio holdings to generate additional income while retaining exposure to the underlying equities.

MCN focuses mainly on the U.S.