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MCN - Madison Covered Call And Equity Strategy Closed Fund News Story

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Madison Covered Call and Equity Strategy Fund (MCN) Declares Quarterly Dividend

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MADISON, Wis., Dec. 01, 2020 (GLOBE NEWSWIRE) -- The Madison Covered Call and
Equity Strategy Fund (NYSE:MCN) (the “Fund”) declares its quarterly
dividend of $0.18/share. The dividends will be payable December 30, 2020 to
shareholders of record on December 16, 2020. The ex-dividend date will be
December 15, 2020. If it is determined that a notification is required
pursuant to Section 19(a) of the Investment Company Act of 1940, as amended,
such notice will be posted to the Fund’s website after the close of business
three business days before the payable date. If a distribution rate is largely
comprised of sources other than income, it may not reflect Fund performance.

The Fund’s objective 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 utilizing an option strategy, primarily by
writing (selling) covered call options on a substantial portion of the common
stocks in the portfolio in order to generate current income and gains from
option writing premiums and, to a lesser extent, from dividends. Market action
can impact dividend issuance as significant decreases or increases in the
Fund’s total assets affect the Fund’s future dividend prospects. The Fund
provides additional information on its website at

Certain statements in this release are forward-looking. The Fund’s actual
results may differ from current expectations or projections due to numerous
factors, including but not limited to changes in the equity markets, changes
in the portfolio’s value, economic and political conditions and other risks
generally discussed in the Fund’s filings with the SEC. Neither the Fund nor
Madison undertakes any obligation to publicly update or revise any
forward-looking statements. 

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

Greg Hoppe:


GlobeNewswire, Inc. 2020
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