PR Newswire | Dec 1, 2020 06:43PM EST

CPZ) Announce Monthly Distributions and Required Notifications of Sources of Distribution, CPZ Marks IPO Anniversary with Dividend Increase

12/01 17:42 CST

Calamos Investments Closed-End Funds (NASDAQ: CHI, CHY, CSQ, CGO, CHW, CCD and CPZ) Announce Monthly Distributions and Required Notifications of Sources of Distribution, CPZ Marks IPO Anniversary with Dividend Increase NAPERVILLE, Ill., Dec. 1, 2020

NAPERVILLE, Ill., Dec. 1, 2020 /PRNewswire/ -- Calamos Investments(r)* has announced monthly distributions and sources of distributions paid in December 2020 to shareholders of its seven closed-end funds (the Funds) pursuant to the Funds' respective distribution plans.

Fund DistributionPayable dateRecord dateEx-dividend date

CHI (inception 06/26/2002) $0.0800 12/18/20 12/14/20 12/11/20 Calamos Convertible Opportunities and Income Fund

CHY (inception 05/28/2003) $0.0850 12/18/20 12/14/20 12/11/20 Calamos Convertible and High Income Fund

CSQ (inception 03/26/2004) $0.0925 12/18/20 12/14/20 12/11/20 Calamos Strategic Total Return Fund

CGO (inception 10/27/2005) $0.1000 12/18/20 12/14/20 12/11/20 Calamos Global Total Return Fund

CHW (inception 06/27/2007) $0.0700 12/18/20 12/14/20 12/11/20 Calamos Global Dynamic Income Fund

CCD (inception 03/27/2015) $0.1670 12/18/20 12/14/20 12/11/20 Calamos Dynamic Convertible and Income Fund

CPZ (inception 11/29/2019) $0.1200 12/18/20 12/14/20 12/11/20 Calamos Long/Short Equity & Dynamic Income Trust

Regarding CPZ's distribution increase, John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer, stated: "CPZ's monthly distribution increase of $0.01 per share, representing more than a 9% increase in payout to common shareholders, commemorates the one-year anniversary of the issuance of CPZ. In spite of initially investing in, and later managing this new portfolio during one of the most volatile periods for financial markets in history, we improved our NAV while maintaining our distribution levels, delivering on our objective of providing risk-managed returns and income to our investors. The increase in CPZ's distribution rate is indicative of the high conviction that we have in the fund and our portfolio management team's ability to optimize both current and anticipated opportunities moving forward."

The following table provides estimates of Calamos Global Total Return Fund's and Calamos Global Dynamic Income Fund's distribution sources, reflecting YTD cumulative experience. The Funds attribute these estimates equally to each regular distribution throughout the year.

Distribution Components for December 2020's Payable DateCGO CHW

Ordinary Income $0.0644$0.0700

Long-Term Capital Gains $0.0000$0.0000

Return of Capital $0.0356$0.0000

Total Distribution (Level Rate) $0.1000$0.0700



2021 Fiscal YTD Data CGO CHW

Ordinary Income $0.0867$0.1400

Long-Term Capital Gains $0.0000$0.0000

Return of Capital $0.1133$0.0000

Total Fiscal YTD Distribution (Level Rate) $0.2000$0.1400

Regarding Calamos' remaining five closed-end funds, which operate under a managed distribution policy: The information below is required by an exemptive order granted to the Funds by the U.S. Securities and Exchange Commission and includes the information sent to shareholders regarding the sources of the Funds' distributions.

The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. The Funds estimate the following percentages, of their respective total distribution amount per common share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal YTD cumulative distribution amount per common share for the Funds. The following table provides estimates of each Fund's distribution sources, reflecting YTD cumulative experience. The Funds attribute these estimates equally to each regular distribution throughout the year.

Estimated Per Share Sources of Estimated Percentage of Distribution Distribution

Per Share Net Short-Term Long-Term Return Net Short-Term Long-Term ReturnFund Distribution Income Gains Gains of Income Gains Gains of Capital Capital

CHI Current 0.0800 0.0320 0.0480 - - 40.0% 60.0% 0.0% 0.0% Month

Fiscal 0.1600 0.0320 0.1280 - - 20.0% 80.0% 0.0% 0.0% YTD

Net Asset 14.22 Value

CHY Current 0.0850 0.0144 0.0706 - - 16.9% 83.1% 0.0% 0.0% Month

Fiscal 0.1700 0.0338 0.1362 - - 19.9% 80.1% 0.0% 0.0% YTD

Net Asset 14.99 Value

CSQ Current 0.0925 0.0289 0.0309 0.0327 - 31.2% 33.4% 35.4% 0.0% Month

Fiscal 0.1850 0.0289 0.0309 0.1252 - 15.6% 16.7% 67.7% 0.0% YTD

Net Asset 15.07 Value

CCD Current 0.1670 0.0215 0.1455 - - 12.9% 87.1% 0.0% 0.0% Month

Fiscal 0.3340 0.0215 0.3125 - - 6.4% 93.6% 0.0% 0.0% YTD

Net Asset 28.83 Value

CPZ Current 0.1200 0.0267 0.0027 0.0006 0.0900 22.3% 2.3% 0.5% 75.0% Month

Fiscal 0.2300 0.0525 0.0781 0.0006 0.0988 22.8% 34.0% 0.3% 43.0% YTD

Net Asset 20.13 Value

Note: NAV returns are as of November 30, 2020 and Distribution Returns include the distribution announced today.

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(s) estimate(s) 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 in this 19(a) notice 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.

Return figures provided below are based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last day of the month prior to distribution record date.

Annualized

5-Year Fiscal YTD Fiscal YTD Fiscal YTDFund NAV Return ^(1) NAV Dist Rate NAV Return NAV Dist Rate

CHI 15.77% 6.75% 14.12% 1.13%

CHY 15.61% 6.80% 14.11% 1.13%

CSQ 15.06% 7.37% 14.03% 1.23%

CCD 17.74% 6.95% 16.04% 1.16%

CPZ 8.31% 6.86% 16.16% 1.14%

^1 Since inception for CPZ

Note: NAV returns are as of November 30, 2020 and Distribution Returns includethe distribution announced today.

While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. Past performance does not guarantee future results.

Monthly distributions offer 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, distributions 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, distributions will be reinvested at the market price through an open market purchase program. 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.

Important Notes about Performance and RiskPast 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 CalamosCalamos 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(r), 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