Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD), Calamos Convertible Opportunities and Income Fund (NASDAQ: CHI), Calamos Convertible and High Income Fund (NASDAQ: CHY) to Adopt Level Distribution Policy
Transition to Level Distribution Plan: Calamos Investments will shift its three funds (CCD, CHI, CHY) from a managed distribution plan to a level distribution plan starting January 1, 2025, maintaining fixed monthly distributions of 19.5 cents, 9.5 cents, and 10 cents per share respectively.
Investment Performance and Risks: The funds may need to return capital to maintain distribution levels, which could affect total assets and expense ratios; investors are cautioned that past performance does not guarantee future results, and market prices may fluctuate significantly.
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- Significant Price Growth: Channel Infrastructure NZ's share price surged 453% over the past five years, demonstrating strong market performance that has attracted long-term investors and solidified its position in the industry.
- Profitability Transformation: The company transitioned from a loss to profitability over the past five years, achieving profitability three years ago, indicating the effectiveness of its business model and potential for future earnings growth, which could drive further share price increases.
- Earnings Per Share Growth: Over the last three years, Channel Infrastructure NZ's earnings per share (EPS) grew at an annual rate of 77%, surpassing the 27% average annual increase in share price during the same period, reflecting a cautious market sentiment that may indicate investor expectations for future growth.
- Enhanced Shareholder Returns: The total shareholder return (TSR) for Channel Infrastructure NZ reached 602% over the past five years, primarily due to its generous dividend payments, highlighting the company's success in creating value for shareholders and boosting investor confidence.

Dividend Declaration: Calamos Convertible Opportunities & Income Fund (CHI) has declared a monthly dividend of $0.095 per share.
Yield Information: The fund offers a forward yield of 3.61%, with the dividend payable on January 9 for shareholders of record on December 30, and an ex-dividend date also on December 30.
Performance Commentary: The fund's Q3 2025 commentary indicates a fully covered yield of 10.85%, suggesting it is trading at a reasonable price.
Rating Insights: Seeking Alpha has provided a Quant Rating for the Calamos Convertible Opportunities & Income Fund, along with a detailed dividend scorecard.

Transition to Level Distribution Plan: Calamos Investments will shift its three funds (CCD, CHI, CHY) from a managed distribution plan to a level distribution plan starting January 1, 2025, maintaining fixed monthly distributions of 19.5 cents, 9.5 cents, and 10 cents per share respectively.
Investment Performance and Risks: The funds may need to return capital to maintain distribution levels, which could affect total assets and expense ratios; investors are cautioned that past performance does not guarantee future results, and market prices may fluctuate significantly.
Stock Performance: CHI's stock has a 52-week low of $9.70 and a high of $12.1094, with the last trade recorded at $10.99.
Market Analysis: The article mentions other dividend stocks that have recently fallen below their 200-day moving average.
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