Looking at the universe of stocks we cover at Dividend Channel, on 12/13/13, Madison/Claymore Covered Call & Equity Strategy Fund (MCN) will trade ex-dividend, for its quarterly dividend of $0.18, payable on 12/27/13. As a percentage of MCN's recent stock price of $8.20, this dividend works out to approximately 2.20%, so look for shares of Madison/Claymore Covered Call & Equity Strategy Fund to trade 2.20% lower — all else being equal — when MCN shares open for trading on 12/13/13.
Below is a dividend history chart for MCN, showing historical dividends prior to the most recent $0.18 declared by Madison/Claymore Covered Call & Equity Strategy Fund:
In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from MCN is likely to continue, and whether the current estimated yield of 8.78% on annualized basis is a reasonable expectation of annual yield going forward. The chart below shows the one year performance of MCN shares, versus its 200 day moving average:Looking at the chart above, MCN's low point in its 52 week range is $7.46 per share, with $8.36 as the 52 week high point — that compares with a last trade of $8.20.
In Wednesday trading, Madison/Claymore Covered Call & Equity Strategy Fund shares are currently trading flat on the day.